Thursday, July 21, 2011
The Daily Snark 7/21
Yeah, I don't see this working either. The fundamental problem isn't changed: Greece, and all welfare states, are spending too much money. Any promise of "this will be the only time investors lose, we swear" is going to drive people away from investing in these nations. Greece wasn't saved with the last bailout; they won't be saved with this bailout; and any future bailouts will be equally as useless. All of that money in the pot is basically gone. Throwing in more cash on your 2/7 off suit isn't helping the situation.