Photo credit: @julesdwit.
A not-for-profit media organization supported by people like you.
Felix Salmon, finance blogger for Reuters, talks about the agreement, reached overnight, to resolve the Greek debt crisis.
It is not the banks bailing out the governments but the other way around. See the rise in the European banks' stock prices today. In return to writing off 50% of the debt, the EU will provide Greece with money to pay back the rest. The alternative could have been that the banks lose more if the EU governments did not provide the support.
Entities that take on risky investments (and receive mostly correspondingly high rewards) should pay the price when some investments go sour. It was their mistake. They should pay the price.
This just points to the corruption in Washington. We payed 100% on our pay off to Goldman Sachs. They should have taken a haircut and Tim Geithner should be FIRED!
Email addresses are required but never displayed.
Brian Lehrer leads the conversation about what matters most now in local and national politics, our own communities and our lives.
Subscribe on iTunes
Brian Lehrer Weekend: The Nation Magazine, Des Bishop & Eva Moskowitz
WNYC 93.9 FM and AM 820 are New York's flagship public radio
stations, broadcasting the finest programs from NPR, PRI and American Public Media, as well as a wide range of award-winning local
programming. WNYC is a division of
New York Public Radio.