2nd German banker doubts Greece's ability to repay (kiss $140 B goodbye!)

AP ^ | 5/15/2010 | AP

[mainsail that]

BERLIN (AP) -- The chief economist of a German bank is quoted as saying that he doubts Greece's ability to repay its huge debts in an orderly fashion.

German news website Handelsblatt on Sunday reported that the Dekabank's chief economist shares the doubts voiced by Deutsche Bank AG's Chief Executive Josef Ackermann on Thursday.

Ulrich Kater was quoted as saying: "It will be very, very difficult for Greece to orderly repay its debt."

[mainsail that]

This Greek communists, doesn't even thank you, he's entitled to it and then some!

So why did they do it, just to buy some time? By the way, our money is there too, we borrow to provide about 20% of IMF money.

[allmost]

Might want to check the link.

[mainsail that]

Thanks, not sure what happened but :
http://news.yahoo.com/s/ap/20100516/ap_on_bi_ge/eu_greece_financial_crisis
http://www.ajc.com/business/2nd-german-banker-doubts-528173.html

[Diogenesis]

Obama, Geithner and the US Congress are not interested
in repayment. Their goal is to support Sharia because
a fraction of the the money goes to al Qaeda for more
attacks on the US homeland.

[allmost]

Things happen. Greece has become the new EU perpetual welfare state for one. :)

[mainsail that]

I hope IMF gets our money back, I heard they are likened to a mafia in a suit and tie so there’s hope.

With $8 billion that we gave to Greece we can give a $8000 bonus to 1 million US soldiers.

[allmost]

It’s gone. Poof. They’ve probably sold the debt 8 times by the time they announce it. Aggravating, disgusting, etc. I like your idea BTW.

[McGavin999]

Germany is about to find out what WE found out decades ago. “Loaning” money to anyone is actually “giving” money. Don’t expect it to be paid back. Just swallow hard.

[Liz]

....US taxpayers can kiss $140B goodbye......

Who is pocketing the $140B?

Corruption is Greece is so rampant ........when the current government came to power in October, it found a $2.6 million order for repairs to a place where Greek pols parked their cars.

They ended up doing the repairs for $26,000.

Clearly corrupt Greek pols were planning to suckup the $2.6 million.

=========================================

Goldman Sachs confesses it is being investigated for helping Greece hide its debts
UK DailyMail | 11 May 2010 | Lucy Farndon
FR Posted on Tuesday, May 11, 2010 by EBH

Goldman Sachs has admitted that it is under investigation for helping Greece to hide its vast debts. The controversial Wall Street bank - nicknamed the Vampire Squid because its tentacles stretch far and wide - is accused of having profiteered out of a complex currency deal that helped Greece massage its finances.

In a regulatory filing in the US, Goldman disclosed that is 'subject to a number of investigations and reviews by various governmental and regulatory authorities' in connection with its financial transactions with Greece.

The European Commission has already been probing the bank's relationship with Athens. It is unclear from the disclosure, how many other countries might be looking into its dealings with the Mediterranean state.

The Wall Street giant is claimed to have received as much as £192m in fees by entering a complex currency transaction in 2001 that helped Athens borrow cash without putting it on the books as a loan. (Excerpt) Read more at dailymail.co.uk ..

[bronxville]

Thanks for that..very informative.

[Liz]

Are all of these WH financial shenanigans more than just fraud and greed? Maybe sedition? Are they using taxpayers money for bailouts, the TARP, etc, etc, etc, ad infinitum, to protect their elite status......and Dem reelections?

SCAM-A-RAMA--GANGSTER GOVERNMENT AT WORK G-20 Finance Ministers and Central Bank Governors asked the United States----the IMF’s largest contributor----for a whopping $108 billion to rescue bankers around the world.

G/S toadie Rahm Emanuel said OKAY, just as long as the usual cut was wire-transferred offshore to the usual money laundering havens: Lebanon, Liechtenstein, Russia, India, Israel, Panama, the Bahamas, the Cayman Islands, the Cook Islands, Dominica, the Marshall Islands, Nauru, Niue, Panama, the Philippines, St. Kitts and the Grenadines, Cyprus, Gibraltar, Monaco, Antigua, Tortola, BVI.

Emanuel told Obama to act quickly----so the puppet prez asked Congress to fold the $108 billion into a war-spending bill, originally crafted to send money to US troops.

Sen Jim DeMint (R-SC) offered an amendment to take it out of the war bill b/c he knew this was an "international version of the domestic TARP" (containing the same billion dollar kickbacks).

But the Democrat Senate voted to keep the IMF bailout in the war-spending bill (thus guaranteeing Democrats that their percentage was intact).

[Condor51]

I know this isn't supposed to be funny, as what's going on in Greece can be 'us' in a couple years, but when I clicked the link to the article, this is what popped up..

Need a Loan?
Find The Right Loan For You At A Low Interest Rate. Click Here.
Loans-Inc.com

I guess God has a funny side too.

[Liz]

WE NEED TO EXAMINE HOW OUR GANGSTER GOVERNMENT MOVED $14 TRILLION (THE REAL AMOUNT OF THE BAILOUTS)

Here's one possible scenario: While acting the succesful investor, philanthropist, and Wall Street advisor, Ponzi thief Madoff created a labyrinth of interrelated international funds, institutions and financial entities of almost unparalleled complexity and breadth...... with assets and businesses in 11 places overseas that hid his thievery.

Stealing billions out of the $14 trillion honeypot would be relatively easy for Gangster Government.

==========================================

Madoff was running multiple scams with the knowledge and consent of wealthy businessman:

(1) a Ponzi fraud that made him personally wealthy;

(2) laundering tax-free money for wealthy businessmen with "foundations and charities" posing as philanthropists,

(3) IRS fraud facilitation for wealthy businessmen;

(4) a protection racket (shielding his investors from federal scrutiny);

(5) laundering tax-free money that was donated to Democrat candidates (campaign fraud).

===========================================

It appears the wealthy Madoffian investors were businessmen funneling income to Madoff to avoid US taxes and banking laws. In fact they were all tax cheats and money launderers, but they acted in public as do-gooder "philanthropists."

Madoff traveled overseas frequently, ostensibly to his villa on the Riviera----the suitcases he carried were probably full of cash .....not leisure wear.

Madoff needed lots of sucker money. He was able to dupe less wealthy people into subsidizing his operations......the several operations that aided wealthy businessman who were in on the scam.

=============================================

PLANNED PARENTHOOD ENABLERS One tax-exempt "charity" The Picower Foundation pocketed an astounding 950% profit from its Madoff investment. Picower deposited $1.6 billion with Madoff, and withdrew more than $6.7 billion, for a net profit of $5.1 billion. Picower had arranged the rate of return beforehand. The Picowers were big PP backers.

THIS JUST IN Picower Estate to Pay Billions to Madoff Investors, BY AMIR EFRATI, WCJ online

The estate of Jeffry Picower, an investor in Madoff's Ponzi scheme is expected to pay at least $2B to other Madoff investors that got burned. The potential recovery would more than the double the $1.5B gathered by the court-appointed trustee. Picower was found dead in his swimming pool last fall.

[stephenjohnbanker]

“The Wall Street giant is claimed to have received as much as £192m in fees by entering a complex currency transaction in 2001 that helped Athens borrow cash without putting it on the books as a loan. “

I wonder if Goldman will do that for me? ;-)

[Condor51]

This whole Madoff and his 'victims' thing astounds me.

As I said when Bernie got busted I have a friend/Business associate who was involved in one of these ponzi schems -- unbeknown to him. But because he was an 'early investor' and did recieve 'profit money', HE was also sued by the goobermint and had to pay the monery back AND a penalty to the 'G'.

As such he lost everything he owned -- his business, his house and all his money. He wound up working again as a Salesman (on Commission) for the Company he once owned. Now he wasn't getting paid in peanuts as a salesman, but he had to live in a small condo and his only 'luxury', was a leased Caddy for business purposes. That's a HUGH change of lifestyle when you're into your sixties. And al through no fault of your own.

So I don't see how ANY of Bernie's 'victims' can skate. If they made any profit -- aka: Return on Investment -- they're in on it.

[chainsaw]

(kiss $140 B goodbye!)

Join the crowd Germany. We Americans have just kissed 800 billion and then another 1.3 trillion goodbye. Thank your lucky stars you don't Obama as president.

[Liz]

....I don't see how ANY of Bernie's 'victims' can skate.

One broker (who was Jewish) was demeaned, called an anti-Semite, b/c she dared to tell some of the Palm beach affinity crowd that Bernie was scamming them.

One of the reasons Bernie could pull off his scam for decades----he knew he could operate an affinity scam.

In our corrupt politically correct culture, it is a career-killer for L/E to suggest someone of Jewish heritage is doing something illegal. No one at the SEC would dare speak up b/c they would have to deal with Big Abe The Enforcer over at the ADL.

Bernie was running a protection racket to keep them safe from L/E, with Abe's help.

[bmwcyle]

The world is sinking fast and man keeps looking to the wrong people to solve this problem. It is 1930 all over again but worse.

[hal ogen]

“Repay” and “accountability” do not exist in the socialist lexicon.

[bmwcyle]

Socialism paving the road to hell every day.