As Molotov cocktails are being thrown in the streets of Greece, the three-headed monster of Papandreou, Sarkozy and Merkel clings to the belief that the road they travel is the solution to the crisis.
Over the past decade it has been the bankersâ€™ understanding that if they are successful in their transactions, they keep the spoils and thus large bonuses for everyone- everyone who is bankers that is.
However, if a financial engineered product goes awry or unsustainable debt is created, then of course, the banker is not held responsible.
The loss is laid off on either the depositor or the taxpayer.
A nice system for the select few and itâ€™s this system that has become entrenched worldwide, until now.
The Greek solution is really quite simple. First, default on all bonds.
Read More: http://finance.townhall.com/columnists/billtatro/2011/10/21/bankers_without_risk_lead_to_disorder_without_end