Galt's Gulch

Was Greece Crisis Caused By Goldman Sachs Chicanery?

Posted by freedomforall 9 years, 9 months ago to Business
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No, the title does not say Goldman was solely responsible for Greece's debt.
It says that there likely would be no crisis in Greece without the unethical actions of Goldman Sachs.
SOURCE URL: http://wallstreetonparade.com/2015/06/goldman-sachs-doesnt-have-clean-hands-in-greece-crisis/

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  • Posted by richrobinson 9 years, 9 months ago
    I just started reading about Goldmans involvement recently. I talked to someone whose husband is from Greece and she explained about the large number of moochers the country has. Goldman simply fast forwarded Greece to it's inevitable outcome. The real question is how to deal with it. I have yet to see any of the powers that be put forth a reasonable solution.
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    • Posted by $ MichaelAarethun 9 years, 9 months ago
      Gold in Sacks has been doing this for years - taking advantage of the moocher syndrome coupled with the forgiveness syndrome. Right here when Bubba was President with the Mexican Tesoro Bono scandal Mexico borrows a huge sum then defaults. One of the lenders just happens to have an 'on leave' member of the firm in the Sec Treas position. Social Security and Railroad Retirement Trust Fund amongst others are raided As I recall Gold In Sacks had forty percent of that position. The Sec Treas did not recuse. The media did not report. The country was never repaid. That's us. Secretary Rubens goes back to Gold In Sacks and wow look what happened to my blind trust investments!!! Retires a multi gazillionaire. GS funds Hillary's run for the Senate. Among others.

      Where's the appearance of impropriety? Substitute Greece who did it to themselves for Mexico Gold In Sacks still knows where the lender of last resort may be found. DC? No. Those on the tax rolls of the USA.

      Let's see oh yes and Hillary is raising funds for.....

      Ever look at the IMF website and see who the lender of last resort is for their problem loans?
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    • Posted by freedomforall 9 years, 9 months ago
      Maybe, but Goldman has a history of these deals. Greece may have hit a wall sooner without Goldman, but if there was no other sleazy deal offered, the debt could not have doubled and triped as it did with the Goldman con. That would have left Greece with no other source of funds but sanity or starvation. The situation today could not have occurred without an unethical motive on the part of bankers (in addition to the "free lunch" attitude of Greek political looters.) Just my opinion.
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  • Posted by $ sjatkins 9 years, 9 months ago
    No outside chicanery is necessary when a country's government borrows and spends like mad to stay popular with its people.
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    • Posted by freedomforall 9 years, 9 months ago
      No it isn't necessary, but the effect of it is to give the addict an injection that is terminal to individual liberty and effectively enslaves people, whether they consented to the government actions or not.
      I won't take blame/responsibility for the acts of the US government and the banksters who pull their strings, why should the Greek people get the blame for the Greek government, EU, and central banksters actions that were done without their consent?
      The US government makes most Americans powerless to stop the idiocy in DC. The Greeks are just as stuck with bad government as we are.
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  • Posted by j_IR1776wg 9 years, 9 months ago
    Next Puerto Rico http://www.cnbc.com/2015/07/31/reuter...
    Can dominoes be stopped once they start to topple?
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    • Posted by $ MichaelAarethun 9 years, 9 months ago
      PR is easy. Cut them loose as an Independent responsible for it's own self nation. Short of the NYC vote they have no influence.
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      • Posted by j_IR1776wg 9 years, 9 months ago
        No not that easy. The only people who can change PR's status is the majority of the voters in PR. Three or four times in my lifetime Congress has allowed a status vote in PR. The three choices were Commonwealth, Statehood, or Nationhood and the majority always voted for Commonwealth. How do you think Obama will handle a PR bankruptcy?
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        • Posted by $ MichaelAarethun 9 years, 9 months ago
          By our choice it's making it a part of the public debate letting them state their case, and from the nation support or the other side. Even if PR votes to become a state it's still (two choices here) an acceptance on the part of Congress and the President or whatever the next dictator says.) That is if we are even partially still in that mode. The second choice is whatever the dictatorship decrees. Money will not enter the picture except as a vote buying scheme.
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      • Posted by $ MichaelAarethun 9 years, 9 months ago
        I should have added. It's not just their choice. It's our choice as well. Given a vote of the whole nation how many would choose to jettison dead weight? How many to give them their freedom? Either way you go it means Hasta la bye bye.
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      • Posted by freedomforall 9 years, 9 months ago
        Good point, the US has cut loose other properties that were likely more valuable than PR. (Panama, Phillippines) Not sure that the socialists would do so today if PR adds to the decline of the people and gives fedgov more power short term.
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