To: Cheap_Hessian
Based on a reliable source in the recent past, foreign banks have applied to withdraw repo with Greek banks even offer powerful bonus. Google doesn't have a Bankerese-to-English translation. Does anyone have a good website that can tell me what this means?
6 posted on
04/07/2010 9:33:46 AM PDT by
KarlInOhio
(Obamacare: The 2010 version of the Intolerable Acts.)
To: KarlInOhio
I think it means foreign banks now thing Greece’s debt is “unsafe at any price”
8 posted on
04/07/2010 9:36:44 AM PDT by
NeoCaveman
("workers of the world unite, it's not just a slogan anymore" SEIU's Andy Stern)
To: KarlInOhio
Wikipedia’s got one.
http://en.wikipedia.org/wiki/Repos
I couldn’t follow it either. It looks to be a scam in which desperate borrowers manage to borrow without it showing up on the books anywhere.
In this case, it appears the “foreign banks” have decided they don’t want to play that game anymore.
9 posted on
04/07/2010 9:37:56 AM PDT by
DuncanWaring
(The Lord uses the good ones; the bad ones use the Lord.)
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