Speculators, Credit Derivatives, and Government

The shamelessness of government really knows no bounds. The people of Greece spent money they don't have to send their leader to see the leader of the United States the other day. The leader of the US has been known to, how do we say this politely, do and say some "unconventional" things during his short time in office. From what it sounds like, the Greek guy wanted the American guy to stop his speculators from betting against Greece in the financial markets. Because, I gather, things would be all good in Greece if it just wasn't for those evil speculators (there's that word again). Even the "different kind" of American leader had to tell the guy to politely "beat it". I wonder if it came up that maybe one of those evil speculators was one Goldman Sachs. You know the company that helped Greece "hide the salami" (technical term) a few years back to prevent them from looking like the Third World economy that they were?

So you have the European Union calling for the end of credit derivatives. Or at least the end of "naked" speculation using credit derivatives. I guess this works to get the voters on their side. I'd love to talk to these leaders behind closed doors. Speculation is what makes the world go round. Are there evil speculators on the Chicago Board of Trade? You know the place where ANYONE can set up a trading company with the proper funding? The place where like 90 PERCENT of the companies go BUST in their 1st year of trading. Yep. So sometimes speculators lose and some even go bust. Haven't seen the Bankrupt Speculator Charity being talked about and nor should it be talked about. You take risk with your capital and you lose? Sorry Charlie. If you hit it big, god bless.

I think its high time these countries, municipalities, governments, etc. stop complaining and pointing fingers and CUT a lot of their own costs. The communist TV news channels will no doubt have all the coverage of the Greek unions protesting and rioting in the streets, ANGRY at the budget cuts that are coming. I would start by making an announcement that anyody who attends these riots is fired.

Comments

[RPB]

If you ban naked CDS, who takes the side of the trade? What is a naked CDS? If I spread Greece CDS versus German Bunds, is that naked?

Richie, the socialists are winning and we can't do a damn thing about it. The Republicans aren't doing much better. Richard Shelby and Bob Corker want to bail out Madoff/Stanford victims with our money.

Time for a 3rd party that lasts