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1 thoughts of our recovery on Sun May 16, 2010 10:31 pm

gypsy


Moderator
I read/heard on news that we are recovering/what I can't understand,is how can Europe/Greece hurt us?

2 Re: thoughts of our recovery on Sun May 16, 2010 10:52 pm

runawayhorses


Owner
gypsy wrote:I read/heard on news that we are recovering/what I can't understand,is how can Europe/Greece hurt us?
They can't military, we have the most powerful military in the world. We could literally take over the world if we were so inclined. The fact is we have the power and tech on our side and no country can beat us in a battle. However, terrorists are still aiming at us and we have to be ready for it. Its a chess match between countries.

The US wins because its more powerful and that's because we do the right thing. Most people support the US because they want to live here too. lol

3 Re: thoughts of our recovery on Mon May 17, 2010 12:13 am

rosco 357


Veteran
gypsy wrote:I read/heard on news that we are recovering/what I can't understand,is how can Europe/Greece hurt us?

she is talking about the economy problems in greece and europe, hurting us that way, i had saw some articles on how it can and may very well hurt the united states, i will see if the articles are still there and if so post after this post here on this topic,

4 Re: thoughts of our recovery on Mon May 17, 2010 12:33 am

runawayhorses


Owner
rosco 357 wrote:
gypsy wrote:I read/heard on news that we are recovering/what I can't understand,is how can Europe/Greece hurt us?

she is talking about the economy problems in greece and europe, hurting us that way, i had saw some articles on how it can and may very well hurt the united states, i will see if the articles are still there and if so post after this post here on this topic,
Oh OK.

rosco 357


Veteran
my words, this is not the article , it is not there now, but i remember it saying the united states need to brace that the probs in europe, will effect the USA, i will not post, but i think Germany gave Greece a bail out, mercel the lady over germany, was complaining that greece does not produce things., but i will not post that article, she is in political trouble for the i think one trillion buck greece bailout,germany did, i dont understand it all, but i will post this article, its hard for me to understand.

Greece Considering Legal Action Against U.S. Banks for Crisis

By Timothy R. Homan
http://www.bloomberg.com/apps/news?pid=20601087&sid=aDxF1YfeViEc#

May 16 (Bloomberg) -- Greece is considering taking legal action against U.S. investment banks that might have contributed to the country’s debt crisis, Prime Minister George Papandreou said.

“I wouldn’t rule out that this may be a recourse,” Papandreou said, in response to questions about the role of U.S. banks in the crisis, in an interview on CNN’s “Fareed Zakaria GPS.” The program, scheduled for broadcast today, was taped on May 13. Neither Papandreou nor Zakaria mentioned any banks by name.

U.S. stocks fell and the euro slumped on concern that Europe wouldn’t be able to contain the debt crisis stemming from Greece. The Standard & Poor’s 500 Index declined 1.9 percent May 14, while the euro fell below $1.24 for the first time since November 2008.

Papandreou said the decision on whether to go after U.S. banks will be made after a Greek parliamentary investigation into the cause of the crisis.

“Greece will look into the past and see how things went,” Papandreou said. “There are similar investigations going on in other countries and in the United States. This is where I think, yes, the financial sector, I hear the words fraud and lack of transparency. So yes, yes, there is great responsibility here.”

Speculators

In the days leading up to the May 10 announcement of a loan package worth almost $1 trillion to halt the spread of Greece’s fiscal woes, European Union regulators were examining whether speculators manipulated the prices of bonds and equities and contributed to the crisis.

The Committee of European Securities Regulators said on May 7 it was investigating “exceptional volatility” in the markets and would work with other regulators, including the U.S. Securities and Exchange Commission, as part of a coordinated clampdown.

European Central Bank President Jean-Claude Trichet said May 6 that he was concerned about speculation in bond markets using credit default swaps. “By first buying the CDS and then trying to affect market sentiment by going short on the underlying bond, investors can make large profits,” he said.

Credit-default swaps are derivatives that pay the buyer face value if a borrower -- a country or a company -- defaults. In exchange, the swap seller gets the underlying securities or the cash equivalent. Traders in naked credit-default swaps buy insurance on bonds they don’t own.

In the CNN interview, Papandreou said many in the international community have engaged in “Greek bashing” and find it easy “to scapegoat Greece.” He said Greeks “are a hard-working people. We are a proud people.”

“We have made our mistakes,” Papandreou said. “We are living up to this responsibility. But at the same time, give us a chance. We’ll show you.”

6 Re: thoughts of our recovery on Mon May 17, 2010 12:54 am

gypsy


Moderator
I remember a few months ag/Greece being strong.no problems/// economy/now there is

7 Re: thoughts of our recovery on Mon May 17, 2010 12:58 am

rosco 357


Veteran
gypsy wrote:I remember a few months ag/Greece being strong.no problems/// economy/now there is

i think greeces problems is bringing down the euro, but this is very confusing, so i will wait and watch, i think by hurting us is it may bring the stock market here problems, but im not sure im correct but i think i am,

8 Re: thoughts of our recovery Today at 7:23 am

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