There was an article in yesterday's New York Times about the financial trouble Greece is in. Actually there were probably more than one articles about it since it has such an effect on Wall Street.
If I remember correctly they said that Wall Street was responsible for the troubles.
The president of Goldman Sachs and other major financial firms traveled to Greece several times in the past and helped that country mask its mounting debt by allowing them to borrow more and more money against future payments.
At the same time they were misleading the public by hiding the bad situation the country was in.
This sounds like giving a person a second and third mortgage in order to pay off the previous ones he owes but at the same time digging himself deeper and deeper into debt.
The banks said everything done was legal and everything was done according to the law.
That's a cop out!
Foreclosing a home and dispossessing its tenant is also according the law but it is inhumane.
Our financial institutions are totally without conscience. They don't care if they bankrupt a family or bankrupt a country as long as they make money on it.
This is the kind of attitude that got us into the mess we and the entire world is in. I agree that Wall Street is the cause of it. By Wall Street I mean the banks and all the major financial services firms like Goldman Sachs and others.
Most of them deserve the fate Lehman Brothers got. Go bankrupt and see what kind of bonuses will be coming.
I wonder how much bonus an executive gets for bankrupting his company. They seem to get a lot for just screwing up the economy.
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My comment is, what transperency,what overseeing how the goverment works,where are the jobs.Everyone is bullcrapping us especially our feerless leader,I'm so sorry I voted for him. He's is so busy uniting the idiots in D.C. Which did not work before.People should get together, and yell in unison we had enough. We should not have to reinvent ourselfs, the goverment and the leaders should come to their senses, stop the bickering, and do not drag the country down the toilet.
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