Monday, May 21, 2012

calling the sovereign moral hazard bluff

greece as a sovereign lehman brothers



smashing their credit might  teach a lesson to other sovereigns

but then there's loses all over ..from place to  place ....private profit pool places
but there's been years to adjust by now

insiders may know the play long term ..so what..its idle meandering
 we'll never discover their plays

what's to do ?

call the bluff voters of greece
make em show their cards

this new left gimboler strikes me as likely to take the short end of the deal
the old stalinists are prolly correct
total rejection

leave the zone