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The ink wasn’t even dry yet on the European bailout fund, the EFSF when it paid $1.3 billion to bail out Proton Bank in Greece. Turns out, Proton had siphoned off $1 billion in a scheme of fraud, embezzlement, money laundering, and offshore front companies, according to the Süddeutsche Zeitung. And then a bomb exploded.
The bomb, fabricated of dynamite, demolished four cars in front of a building in Halandri, a suburb of Athens. Not a coincidence: in the building lived a senior employee of the Bank of Greece, whose meticulous investigation of Proton Bank had exposed the massive criminal sc
The whole affair raises the question why a Greek bank that engaged in criminal activity should get bailed out by international taxpayers, including those in the US (via the US contribution to the IMF). Particularly galling: the Greek government knew of the criminal activity before it asked for the bailout funds. Another line item on a long list of financial institutions whose reprehensible activities took the taxpayers to the cleaners