It looks like you're using an Ad Blocker.
Please white-list or disable AboveTopSecret.com in your ad-blocking tool.
Some features of ATS will be disabled while you continue to use an ad-blocker.
Originally posted by Cabaret Voltaire
reply to post by TheCoffinman
Bunch of stupid pot heads.
How is it possible for them to have the largest court system and not write enough tickets to make money?
Is everything legal in California now? They should start outlawing something and make some money.
US President Barack Obama has added his concerns over possible contagion.
But concerns remain over how much money Germany will pledge as Europe's biggest economy, and what conditions it will attach to the funds.
Investor confidence took yet another knock on Wednesday when rating agency Standard & Poor's downgraded Spain's debt - reflecting a loss of confidence in another eurozone country.
Committee Chairman Carl Levin (D-MI), however, said that the hearing was not about criminal charges but instead about unethical business practices that not only allowed Goldman Sachs to make millions but also caused millions of Americans to lose their homes, portions of their retirement savings and their jobs.
"The SEC and the courts will resolve the legal question of whether Goldman's actions broke the law. The question for us is one of ethics and policy," said Levin (D-Mich.). "Were Goldman's actions in 2007 appropriate? And if not, should we act to bar similar actions in the future?"
Goldman’s witnesses, for their part, evaded questions, rambled on with long-winded non-answers to kill time, asked questions repeated over and over again, killed precious time by searching through a giant binder in front of them for information the committee was referring to, and generally frustrated members of both parties. The stalling tactics were part of concerted strategy to minimize the company’s damage from the hearing, according to The Washington Post.
Just reported: Greece will not cut public salaries or there wll be civil war.
There's the gauntlet folks. It means that no "assistance" can actually succeed, because it is not possible to get the fiscal situation under control without significant cuts in public spending.
This, incidentally, is the same problem we have in the US, and why attempts to deal with our fiscal situation at both state and federal levels is going to end up in the same place eventually. The majority of our budget is comprised of handouts of one form or another, whether they be Social Security, Medicare, or public-sector salaries.
The "unified opposition" by public-sector employee unions (just look at what Florida teachers ran when their pension handouts and tenure were threatened) says everything you need to know.
Greece has to be cut loose. The best way to do it is for Germany to walk away from the Euro and return to the Mark for its currency, leaving the rest of Europe to twist in the wind.
I see no other solution. Threats of civil war, which are effectively what the public sector unions here in the US have also threatened repeatedly since 2008 (and to which we have responded by refusing to cut their salaries and benefits) mean that we have the irresistible force meeting the immovable object.
All such governments who refuse to take on these bullies and meet that threat with immediate charges of inciting overthrow of the government by force (in the US this charge is known as seditious conspiracy) will fail.
We have refused to make clear that such threats will result in charges of this sort - and so have other nations such as Greece. Yet unless this is made crystal clear and this sort of approach by these unions is put down immediately all nations beset by this sort of action will fail both politically and economically.
Simply put the artificial support proffered to the financial sector should have never been put forward, but having done so, the public must now bear the cost, here, today, and immediately.
Those are the only choices folks. Greece, and indeed the entire European Union, will ultimately disintegrate (as will America) if this is not done.
Originally posted by GreenBicMan
reply to post by marg6043
No, trust me.
They will not go lower than they are now.
The US just proved their incompetence.
I could be rich on these options.. watch GS to 200 within 2 months max.
It won't go a dime lower than 150. If it didn't yesterday, it never will. This is another call I would almost risk deletion of my account on. I feel that strongly about it as other calls in the past.
The US political system is a sham and I watched every minute of that supposed grilling just to learn these Senators are more interested in getting reelected and not interested in the facts. Just their diluted bull# opinions that are based on fiction.
Total bull#, anyway.. I already said all that haha.
I just can't shake these feelings.
Greek Prime Minister George Papandreou said Friday the debt-stricken country's survival was at stake as social tensions mounted over the price to be paid for an international bailout.
Police battled protesters in Athens as government negotiators sought to clinch a deal with the European Union and International Monetary Fund said to be worth 120 billion euros (160 billion dollars) over three years.
The international institutions are seeking tough spending cuts, but Papandreou told the Greek parliament: "Today what is most important is the survival of the nation, that is our red line.
"The measures which we must take, economic measures, are necessary for the protection of our country, for our survival, for our future so that we can stand firmly on our feet," he said.
"It's a patriotic responsibility which we undertake no matter what the political cost."