When the Greeks joined the Euro in 2001, it was known that the Greek Government "Cooked the Books", and yet they were allowed to join anyways. And then, the International Banks engaged Greece in a decade-long lending spree.
http://ift.tt/1RVnbXX
Why did all this Bank lending happen when everyone - even the stray Dogs in Athens - knew the Greek Government was corrupt and borrowing this money would surely doom it to bankruptcy?
Not one Major Media Outlet asks this question.
Imagine a man (i.e., Joe-Blow Citizen) walks into a Bank and asks for a loan. After examining the man's financial wherewithal, the Loan Officer asks the Man how much he would like to borrow. The Man then responds, "I would like to Borrow so much money that I can't possibly pay it back." Consequently, the Man is refused a loan and asked to leave. Are you surprised? Of course not.
However, let the Greek Government go before the World's Investment Banks and ask for a loan with the same terms as the man had asked from the Bank Loan Officer above, and Investment Banks around the World were just too happy to lend the Greek Government the money and watch them go Bankrupt.
Why is that do you suppose? Who ultimately benefited from such a loan?
http://ift.tt/1RVnbXX
Why did all this Bank lending happen when everyone - even the stray Dogs in Athens - knew the Greek Government was corrupt and borrowing this money would surely doom it to bankruptcy?
Not one Major Media Outlet asks this question.
Imagine a man (i.e., Joe-Blow Citizen) walks into a Bank and asks for a loan. After examining the man's financial wherewithal, the Loan Officer asks the Man how much he would like to borrow. The Man then responds, "I would like to Borrow so much money that I can't possibly pay it back." Consequently, the Man is refused a loan and asked to leave. Are you surprised? Of course not.
However, let the Greek Government go before the World's Investment Banks and ask for a loan with the same terms as the man had asked from the Bank Loan Officer above, and Investment Banks around the World were just too happy to lend the Greek Government the money and watch them go Bankrupt.
Why is that do you suppose? Who ultimately benefited from such a loan?
via International Skeptics Forum http://ift.tt/1NsneHs
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