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Strategies & Market Trends : The coming US dollar crisis -- Ignore unavailable to you. Want to Upgrade?

To: Pogeu Mahone who wrote (56875)	1/28/2015 8:20:14 PM
From: sense	Read Replies (2) \| Respond to of 71456

Due diligence isn't a magic elixir that enables clairvoyance... Greek austerity was achieved... and, as far as the banks were concerned, you'd have to say it was working... Rates plummeted. Now, of course, they're rising, again, as the risk is growing again... The issue with economic failure that is occurring isn't really properly limited to pointing fingers at banks, or the rest of what the mantra's suggest it must be about (and, thats another instance in which what it true of Greece is also true of Europe, generally, and the U.S.): Read this, for instance... Europe after QE and the Greek Elections: Time for Growth? atlanticcouncil.org Should the due diligence the banks did when loans were made have considered the risk sharing limits that were implemented... when the EU finally acted ? Due diligence is risk analysis... not risk elimination. The REAL problem is... the public discussion is all and only about the monetary issues... when the problem Greece has with unemployment and a staggering economy... aren't all and only about the monetary issues... but are in fact mostly STRUCTURAL... but, Greece (and everyone else) is doing all they can to protect the status quo from CHANGE that is necessary... to enable competition... without which the economy of Greece (and others) will continue to flounder, no matter what the banks do. The debt itself isn't near as large a problem... as the mal-investment that the debt enabled... Greece could have an economy rivaling Hong Kong... if they only bothered to fix their broken rules to enable it... Of course, I'm not going to loose sleep over the banks taking hits on Greek loans... We're all Greek, if in lesser degree... and the relevance of Greece, to us, should be... "let's not be Greece".