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Head Of Greek Debt Office Replaced By Former Goldman Investment Banker

Tyler Durden's picture





 

And so the tragicomic becomes surreal. Yesterday's news about the departure of the head of the debt management agency, Spyros Papanicolaou, was somewhat of a yawner, until we realized that his replacement would be none other than Petros Christodoulou, who until today was head of Private Banking and Group Treasury at the National Bank of Greece (reporting directly to the CEO of the NBG Tamvakakis), as can be seen on the org chart below. Yet was is oddest, is that Mr. Christodoulou worked not only as head of derivatives at JP Morgan but also held comparable posts at Credit Suisse, and... wait for it, Goldman Sachs... Uh, say what?

Petros' profile from Forbes:

Petros Christodoulou, born 1960, is the General Manager of Treasury,
Global Markets and Private Banking. Before joining the Bank in 1998, he
worked in various positions in Global Markets for Credit Suisse First
Boston and for Goldman Sachs. Additionally, at JPMorgan he led the
derivatives desk, followed by the short-term interest-rate trading and
emerging markets division in London as Managing Director. He is a
member of the Investment Committee of EH and the Foundation for
Economic and Industrial Research. He holds a BSc from the Athens School
of Commerce and Economics and an MBA in International Financial Markets
from Columbia University.

But, but, we thought it was all Goldman Sachs' fault for annihilating Greece? Wasn't it all Goldman's fault for fully (not) disclosing the terms of its nearly decade worth of swaps, which apparently were obvious to Risk magazine but oh so incomprehensible to Eurostat. Although it may all be good - it appears that Greece has found a new enemy. Reuters now reports that Greek opposition lawmakers said on Thursday that Germans should pay reparations for their World War Two occupation of Greece before criticising the country over its yawning fiscal deficits.

The fact that Greece's survival is now reliant on Germany's goodwill, seems to be lost on everyone.

We can not wait for the next installment in this ever more fascinating soap opera.

 


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Fri, 02/19/2010 - 12:19 | Link to Comment Not A Pundit
Not A Pundit's picture

CLASSIC!!

Fri, 02/19/2010 - 13:27 | Link to Comment Cognitive Dissonance
Cognitive Dissonance's picture

After the peasant revolts ended in the late 1600's, the powers that be knew they needed to switch to a more covert form of control, which was implemented under the cover of freedom and liberty. Over the next two hundred years, the rest of the "developed" world slowly adopted the much more effective method of allowing the passengers to believe they were running the boat, thought the captain never relinquished control of the ship of state.

This period of covert control is rapidly coming to an end, thou the first experiments in fascism (more accurately corporatism) and modern central control were experimented with in the late 1930's in Europe. Now the wheel is coming around full circle and it's becoming obvious that covert control has run it's course and overt in-your-face control is the new fashion statement of the powers that be.

Welcome to the change Obama promised. He's simply the puppet in charge of change in America.

Fri, 02/19/2010 - 13:43 | Link to Comment DaveyJones
DaveyJones's picture

It is turning isn't it. As it gets worse, they are getting bolder. No more pretending

Fri, 02/19/2010 - 14:14 | Link to Comment assembler
assembler's picture

Practically a biblical fight club:

For we wrestle not against flesh and blood, but against principalities, against powers, against the rulers of the darkness of this world, against spiritual wickedness in high places.

Fri, 02/19/2010 - 15:38 | Link to Comment Cistercian
Cistercian's picture

 Yes.The operation of evil is very clear here.

Fri, 02/19/2010 - 16:20 | Link to Comment B9K9
B9K9's picture

I've caught some flack by stating that the Bible is the most importance reference document we possess. For some reason, a few people apparently mistook my obvious atheistic principles for ecclesiastical belief. Wrong; however, if one is interested in any historical precedent of how this situation plays out, simply open a page in the Bible and start reading.

Seven years of feast & famine? Check. Powers-that-be pre-emptively attempting to wipe out the opposition? Check. Lectures on the evils of money-lending? Check. The one constant throughout history is that on a fairly regular cycle, the PTB get whacked.

Fri, 02/19/2010 - 20:49 | Link to Comment Cognitive Dissonance
Cognitive Dissonance's picture

I also regularly pick up the Bible for reference. It's a wonderful historical document that has been thoroughly documented itself. Meaning all the changes that have been made have been made in plain sight. Once you get past the religious aspects, it's amazing how accurate it can be at times, particularly when you cross reference.

However, one of the things most people take for granted is that each version (the King James version is widely used today in America) has been faithfully (sorry, pun intended) translated and recorded. It has not. Still, it's a great place to start and finish.

Sat, 02/20/2010 - 20:21 | Link to Comment JohnG
JohnG's picture

Interestingly enough, the many English language versions of the Bible were translated from Aramaic (and other ancient languages) into GREEK.

Things that make me say hmmmm.....

Sat, 02/20/2010 - 23:17 | Link to Comment Rusty Shorts
Rusty Shorts's picture

I'm not the religious type, but ran across this speech by Barry Smith, in 1995, very spooky, in the sense of how much of what he said 15 years ago, has happened.

 

http://www.youtube.com/watch?v=D1R_jtK03NQ&feature=related

Sat, 02/20/2010 - 23:08 | Link to Comment Anonymous
Fri, 02/19/2010 - 13:48 | Link to Comment Anonymous
Fri, 02/19/2010 - 21:29 | Link to Comment albion402
albion402's picture

always wondered what happened to my favorite Greek ag econ professor?

Fri, 02/19/2010 - 15:27 | Link to Comment Going Down
Going Down's picture

 

First A Greek Tragedy and Now An Italian Comedy

 

“The transaction with Greece ‘was executed prior to the arrival of Draghi at Goldman Sachs,’ added sources from the [Banca d'Italia*], recalling that the governor [Draghi], who has headed the Banca d’Italia since the beginning of 2006, was vice president and managing director of Goldman Sachs in London from 2002 to 2005.

http://baselinescenario.com/

 

The story never ends.

 

Fri, 02/19/2010 - 21:30 | Link to Comment albion402
albion402's picture

Econometrics.... fun stuff for Greek lefty professors.

Fri, 02/19/2010 - 12:20 | Link to Comment Ragnarok
Ragnarok's picture

Real life really is more interesting than fantasy.

Fri, 02/19/2010 - 13:05 | Link to Comment Anonymous
Fri, 02/19/2010 - 15:56 | Link to Comment WaterWings
WaterWings's picture

...and spend 7 hours a day on ZH instead. Sometimes I skip lunch.

Thu, 03/17/2011 - 07:45 | Link to Comment rubsgen12
rubsgen12's picture

Thanks for taking this opportunity to discuss this, I feel fervently about this and I like learning about this subject. If possible, as you gain information, please update this blog with more information. I have found it really useful.
Ruby Genders,
motor trade insurance

Fri, 02/19/2010 - 12:22 | Link to Comment Stuart
Stuart's picture

wow, talk about a real Greek tragedy. 

Fri, 02/19/2010 - 16:29 | Link to Comment Anonymous
Fri, 02/19/2010 - 12:22 | Link to Comment Ragnarok
Ragnarok's picture

When all else fails blame the Nazis, as it is now the only group which you are aloud to discriminate against.

Fri, 02/19/2010 - 12:48 | Link to Comment Misthos
Misthos's picture

I'm beginning to see this a lot.  Remember, it is the *opposition* party that is bringing up the Nazi Germany thing. It's pure politics and demagoguery.  Too many people are accusing the entire country as wanting reparations from Germany.

But I will say this - that it is very strong demagoguery - I have heard horror stories about the German occupation from people alive today.  Those things are not easily forgotten - but again, it is the OPPOSITION party that is bringing this up - it's the only "solution" they can come up with and they are playing a xenophobia card.

Fri, 02/19/2010 - 13:12 | Link to Comment Ragnarok
Ragnarok's picture

Agreed.

 

I was also bringing up a broader point that Nazis were and are still always the bad guy, never terrorists, Stalin, Che, Castro or Mao as they garner sympathy from the liberal media.

Fri, 02/19/2010 - 13:13 | Link to Comment Ragnarok
Ragnarok's picture

Not defending Nazis in anyway, shape or form.  Just making that clear.

Fri, 02/19/2010 - 15:03 | Link to Comment Kitler
Kitler's picture

Even us Kazis hate the Nazis.

Fri, 02/19/2010 - 15:11 | Link to Comment MsCreant
MsCreant's picture

I am subordinated to my cat, Kitler. Your avatar and screen name make me smile everytime I see it. Very creative.

Fri, 02/19/2010 - 15:36 | Link to Comment Kitler
Kitler's picture

Danke Schon!

Fri, 02/19/2010 - 15:50 | Link to Comment _Biggs_
_Biggs_'s picture

>>

Fri, 02/19/2010 - 16:10 | Link to Comment Ragnarok
Ragnarok's picture

Do Kazis have a final solution for the Kews? How does one distinguish a Kew from a Karian?

Fri, 02/19/2010 - 16:21 | Link to Comment Ragnarok
Ragnarok's picture

I know, the Kazis run the SPCA and send their storm troopers out to round up the undesirables.

Sat, 02/20/2010 - 08:05 | Link to Comment Anonymous
Sat, 02/20/2010 - 12:53 | Link to Comment Art Vandelay
Art Vandelay's picture

Here's what I don't get about people like you: why not just come right out and say "FUCK THE JEWS"? I mean, you're posting anonymously, and it's clearly how you feel, so why not just go for it? Why try to be clever and skirt the issue? What's the downside - social opprobrium from other anonymous posters on the Internet? Do you really care? You goddamned pussy!

Fri, 02/19/2010 - 12:25 | Link to Comment Traianus Augustus
Traianus Augustus's picture

Who cares about this stuff...the really cool stuff is about Tiger, and it's on all the business channels.  Yea! 

Long live the VS...NOT!!!!

Fri, 02/19/2010 - 13:40 | Link to Comment Going Down
Going Down's picture

 

"the really cool stuff is about Tiger"

 

Yup...especially if Wall Street pigmen saw it.

 

http://jessescrossroadscafe.blogspot.com/2010/02/how-could-i-be-so-selfi...

 

Fri, 02/19/2010 - 13:46 | Link to Comment Ripped Chunk
Ripped Chunk's picture

Tiger should just retire and become an ordained minister. Then his actions will appear common place.

Fri, 02/19/2010 - 16:01 | Link to Comment WaterWings
WaterWings's picture

As a corporate mouthpiece a lack of "mea culpa" would have been seen by the zombie public as arrogant. The likes of Blankfein and Geithner get away with it because only those paying attention even know who they are.

Fri, 02/19/2010 - 20:39 | Link to Comment Rainman
Rainman's picture

+ 100 , resoundingly !!

Fri, 02/19/2010 - 12:27 | Link to Comment I am a Man I am...
I am a Man I am Forty's picture

Greece playing the Nazi card....hilarious.

Fri, 02/19/2010 - 12:29 | Link to Comment bugs_
bugs_'s picture

Wholly owned subsidiary.  Leave the E.U. and join the G.U.

 

Fri, 02/19/2010 - 13:42 | Link to Comment Sabibaby
Sabibaby's picture

Don't tou mean the G.S?

Fri, 02/19/2010 - 12:31 | Link to Comment Postal
Postal's picture

So the fox guards the henhouse?

Fri, 02/19/2010 - 14:21 | Link to Comment 35Pete
35Pete's picture

Is that why the pen is full of half eaten chicken carcasses? 

Hint: We're the poultry. 

Fri, 02/19/2010 - 12:31 | Link to Comment ReallySparky
ReallySparky's picture

I knew the squid was running the world. 

Fri, 02/19/2010 - 12:32 | Link to Comment williambanzai7
williambanzai7's picture

Traders and hedge fund employees are advised to avoid Greek diners.

Fri, 02/19/2010 - 12:54 | Link to Comment hedgeless_horseman
hedgeless_horseman's picture

For fun, I tried to pay for lunch at Niko Niko's with some German Euros last week.  The lady said, in a thick Greek accent, we don't accept that money, only US dollars. 

I laughed, then cried, when I realized the joke was on me.

Fri, 02/19/2010 - 12:32 | Link to Comment crosey
crosey's picture

When the game is up, the logic unravels into threads of unbelievable yarn.   In this case, woolen yarn woven quickly into a covering with which Greece will further attempt to cover our eyes.

Is that hysterical laughter that I hear?

Fri, 02/19/2010 - 12:33 | Link to Comment buzzsaw99
buzzsaw99's picture

If you can't beat 'em, join 'em!

Fri, 02/19/2010 - 12:34 | Link to Comment zenon
zenon's picture

Guys cool it. 10% of the Greek population died during the nazi occupation either by being killed or by famine - the result of all the food & produce being confiscated to feed the nazi war machine. Post WWII, Greek demands for war reparations were fended off on the legal argument that W. Germany was not the whole Germany. Following Germany's unification, similar reparation demands were kept in the closet on account of European unity and transfer payments towards EU's weaker memebers (ala Greece). Should such payments (and financial assistance when it is needed) not be forthcoming, these demands could well re-surface as a bargaining tool. Said differently, if the EU just enforces tough conditions on Greece with no dinero at the end of the process, maybe the IMF is a better & friendlier solution.

Fri, 02/19/2010 - 12:46 | Link to Comment Cow
Cow's picture

"maybe the IMF is a better & friendlier solution"

Better for whom?  Why should the US taxpayer bail out the overspending Greek socialist government?

Fri, 02/19/2010 - 12:55 | Link to Comment Anonymous
Fri, 02/19/2010 - 14:24 | Link to Comment 35Pete
35Pete's picture

+50

The first thing the IMF will do is make Greece privatize it's atmosphere. 

Oxygen is a marketable resource and the World Bank demands collateral. 

Sat, 02/20/2010 - 08:10 | Link to Comment Anonymous
Fri, 02/19/2010 - 13:18 | Link to Comment Anonymous
Fri, 02/19/2010 - 14:05 | Link to Comment zenon
zenon's picture

They are as unrelated as the claims against the Swiss banks by Jews who had savings confiscated during WWII. If you recall these claims were settled at a rather hefty price. To the degree that there are voices in national parliaments in favor of expelling Greece from the single-currency, you get reactions like these from the Greek side. Whether or not they are detrimental is another issue. They probably are so to the concept of an enlarged Euro-area. Probably why the IMF is falling over backwards to lend money to Greece. So in answer to the previous poster, don't worry your tax dollars are being put to good use - the prolongation of the reserve curency stauts of the $.

Fri, 02/19/2010 - 14:44 | Link to Comment Anonymous
Fri, 02/19/2010 - 14:08 | Link to Comment I am a Man I am...
I am a Man I am Forty's picture

Good idea, make people that had nothing to do with it pay for it.  Better yet, just start arresting and fining all people of german descent that had a relative in Germany at the time of WWII.  

While we are at it, let's do that for all countries in wars past going back to the stone ages.

 

Fri, 02/19/2010 - 12:40 | Link to Comment Anonymous
Fri, 02/19/2010 - 12:41 | Link to Comment Anonymous
Fri, 02/19/2010 - 14:26 | Link to Comment 35Pete
35Pete's picture

Great interview from Mr. Gold. 

I listened to it twice this weekend. I didn't know that Sinclair was a Seligman. 

What's a privileged establishment guy doing ratting out his own? 

Fri, 02/19/2010 - 12:42 | Link to Comment alexdg
alexdg's picture

Reparations! I'm rich biotch!

http://www.youtube.com/watch?v=98958txVSrE

How about that Reuters url? Where it at?

Fri, 02/19/2010 - 12:43 | Link to Comment Anonymous
Fri, 02/19/2010 - 12:51 | Link to Comment Harbourcity
Harbourcity's picture

Petros Christodoulou is uncle-dad.

Fri, 02/19/2010 - 12:51 | Link to Comment Anonymous
Fri, 02/19/2010 - 12:52 | Link to Comment SDRII
SDRII's picture

http://www.reuters.com/article/idUSL0882180020070608

JPM/Greece

Wasn't it greece that triggered the Truman doctrine

Fri, 02/19/2010 - 12:53 | Link to Comment GoldmanBaggins
GoldmanBaggins's picture

annnnd PUNT!!

Fri, 02/19/2010 - 12:54 | Link to Comment Leo Kolivakis
Leo Kolivakis's picture

So they stuff another ex-Goldman guy as the Chief Klaparhidi! Malakies!

Fri, 02/19/2010 - 13:03 | Link to Comment hedgeless_horseman
hedgeless_horseman's picture

Here you go, Leo.  Knock yourself out!

...a major global solar panel manufacturer headquartered in Athens, Greece...

http://solarenergypublication.com/greek-solar-panel-maker-now-branded

Fri, 02/19/2010 - 13:55 | Link to Comment Nout Wellink
Nout Wellink's picture

Sounds like a Trojan Horse to me ;-)

Fri, 02/19/2010 - 14:12 | Link to Comment DaveyJones
DaveyJones's picture

a horse and a prophylactic

Fri, 02/19/2010 - 15:13 | Link to Comment MsCreant
MsCreant's picture

Are you saying the greeks are just getting ready for a screwing?

Fri, 02/19/2010 - 12:59 | Link to Comment JR
JR's picture

How long will it be before the accusations and the ill will against the German people comes to an end? Have not the German people suffered enough from prejudice? 

Can the peoples of nations be collectively condemned without condemning human nature itself?

Is there no appeal to democratic faith in the simple honesty of soundness of the broad masses of people, no appeal to sympathy with those millions of suffering and starving victims of total war?

Consider developments after WWII:

In 1947, a defeated, divided, truncated, occupied Germany was a mass of rubble, its economy a desperate scratching for subsistence.

Although the Marshall Plan enabled Germany’s people to rebuild a free society and a free economy, a predecessor blueprint for genocide became the on-going principal occupation policy directive – a policy that aimed at the destruction of a nation’s people. It was the Morganthau Plan, drawn up by America’s wartime Secretary of the Treasury, Henry Morganthau and his closest advisor, Harry Dexter White, later discovered to be a high ranking Communist.

It aimed at the permanent destruction of Germany’s industrial heart and the consequent death through starvation and disease of millions and tens of millions of Germans.

“Time” magazine has aptly called it “history’s most terrifying peace”.

The conservative newsletter, “Review of World Affairs,” quotes as follows from a confidential memorandum prepared by an eminent European economist:

“Since the end of the war about 3,000,000 people, mostly women and children and overaged men, have been killed in eastern Germany and south-eastern Europe; about 15,000,000 people have been deported or had to flee from their homesteads and are on the road.  About 25 per cent of these people, over 3,000,000, have perished.  About 4,000,000 men and women have been deported to eastern Europe and Russia as slaves….” Quoted by Sen. Homer Capehart in speech before U.S. Senate, Feb. 5, 1946.

Dr. Lawrence Meyer, executive secretary of the Lutheran Church, Missouri Synod, after a tour of Germany at the time stated:

“About 16,000,000 German refugees east of the Oder are being deported from their homes.  It has been estimated that already 10,000,000 have been driven out.  The human tragedy and suffering caused by this ’Volkswanderung’ are unparalleled in history…”

An authentic eye-witness report…

“A large barge is slowly being towed across the Oder River.  In it, lying on straw, are 300 children ranging from 2 to 14 years of age.  There is hardly a sign of life in the whole group.  Their hollow eyes, their swollen bellies, knees, and feet are telltale signs of starvation.  These are merely the vanguard of hundreds of thousands—millions of homeless, shattered, hungry, sick, helpless, hopeless human beings fleeing westward – west of the Oder and Neisse rivers.

“A trust in God—in his goodness and mercy—these are the only hope of Germany today.  And thank God in many there is still faith in God against which the gates of hell have stormed in vain during the past decade.” (Capehart)

Fri, 02/19/2010 - 13:31 | Link to Comment JohnXXX
JohnXXX's picture

Get a grip ffs. Next thing you know you'll be asking us to apologize for shutting down their gas chambers.

Fri, 02/19/2010 - 15:04 | Link to Comment JR
JR's picture

The greed and destruction of a people legitimized in the Treaty of Versailles led to Germany’s 1923 hyperinflation and an entrapped impoverishment that led, ultimately, to WWII.

Of Versailles, Francisco Nitti, the prime minister of Italy, wrote:


”It will remain forever a terrible precedent in modern history that, against all pledges, all precedents and all traditions, the representatives of Germany were never even heard, nothing was left to them but to sign a treaty at a moment when famine and exhaustion and threat of revolution made it impossible not to sign ... In the old canon law of the church it was laid down that everyone must have a hearing, even the devil ... the new society of nations did not even obey the precepts which the dark Middle Ages held sacred on behalf of the accused.

”The cost of the war of all participants totaled three times the value of all property in Germany. She was ordered to pay an impossible 1.7 billion marks a year (in foreign exchange) for 59 years, until 1988. Even worse, according to the normally circumspect banker, Hjalmar Schacht:: ‘The Treaty of Versailles is a model of ingenious measures for the economic destruction of Germany’, adding:

Every natural economic advance, every step toward the restoration of economic confidence was made impossible by the influence of the foreign political factor.'"

The Treaty of Versailles turned out to be an instrument of continuing aggression. Even at the time, it drew strong condemnation. The American Secretary of State Robert Lansing wrote:

The impression made by it is one of disappointment, of regret, and of depression. The terms of the peace appear immeasurably harsh and humiliating, while many of them seem to me impossible of performance ... The League [of Nations] as now constituted will be the prey of greed and intrigue.

Writes Stephen Zarlenga, researcher in monetary history and theory,  “The great German hyperinflation of 1922 and 1923 is one of the most widely cited examples by those who insist that private bankers, not governments, should control the money system. What is practically unknown about that sordid affair is that it occurred under control of a privately owned and controlled central bank.”

http://billtotten.blogspot.com/2009/05/germanys-1923-hyperinflation.html

“Since its sucker-punch inception in 1913, the central planners have devalued the dollar down to roughly $0.04 (”inflation” actually means the devaluation of the dollar). It also serves as the engine of the American Imperialism perpetual war machine, which is currently devouring roughly $1 trillion per year. As a result, you can thank “the Fed” for the rest of societies woes such as poverty and the crime that spawns from it, the recent housing bubble, much of the current economic woes and criminal gas price gouging…”  – 08/21/2008  ignoranceisntbliss AT hotmail.com

Fri, 02/19/2010 - 15:33 | Link to Comment Kitler
Kitler's picture

If there is one thing I hate worse than Nazis it's Banksters! (Well the Nazis are gone so who ya gonna hate?)

Fri, 02/19/2010 - 18:01 | Link to Comment WaterWings
WaterWings's picture

Sad stuff. Good post.

Sat, 02/20/2010 - 00:56 | Link to Comment Anonymous
Fri, 02/19/2010 - 13:09 | Link to Comment Gordon_Gekko
Gordon_Gekko's picture

Why won't Greece just die already? The POS just keeps dragging on and on and on.

Fri, 02/19/2010 - 13:19 | Link to Comment Leo Kolivakis
Leo Kolivakis's picture

Why don't you jump off a cliff already? Η Ελλαδα Ποτε Δεν Πεθαινει (Greece Never Dies). Go read some history, you ignorant asswipe!

Fri, 02/19/2010 - 13:36 | Link to Comment Gordon_Gekko
Gordon_Gekko's picture

At least I am not ignorant enough to think we are in a "recovery". How are them solar stocks doing? Right. Are you greek? Why are you so hot and bothered? There has been so much noise about that POS yet I don't think how it would even minutely impact the world economy if it ceased to exist tomorrow. What is its percentage of Global GDP - like 0.0000000001%?

Fri, 02/19/2010 - 13:49 | Link to Comment Leo Kolivakis
Leo Kolivakis's picture

You are an ignoramus...quite pathetic actually.

Fri, 02/19/2010 - 14:12 | Link to Comment tenaciousj
tenaciousj's picture

Not quite, something like 0.0006%. 

Of course, their financials are probably all lies and most of it is debt.  So on second thought you are probably right.

Fri, 02/19/2010 - 13:49 | Link to Comment Ripped Chunk
Ripped Chunk's picture

How about that jobs report!!???  Recovery is here!!!!!!

Ignorant was the word you used Leo????

 

Fri, 02/19/2010 - 13:50 | Link to Comment Leo Kolivakis
Leo Kolivakis's picture

Jobs will come back but the snow storms probably hit Feb. payrolls.

Fri, 02/19/2010 - 13:56 | Link to Comment Ripped Chunk
Ripped Chunk's picture

As long as municipal, county and state employees are excluded from the numbers though right?

Fri, 02/19/2010 - 14:00 | Link to Comment tenaciousj
tenaciousj's picture

And yearly seasonaly adjusted, revised, and the sample data is altered to be all new and improved

Fri, 02/19/2010 - 14:13 | Link to Comment Ripped Chunk
Ripped Chunk's picture

If you have a state refund coming you better get it filed before the windows start shutting.

Fri, 02/19/2010 - 14:15 | Link to Comment girl money
girl money's picture

*** MEEEEP MEEEEP **** We interrupt this broadcast for an Apples vs Oranges BS Alert.

Leo, Leo, Leo... tsk, tsk.  You can talk about snow hitting payrolls OR rising unemployment, but they are not the same,  so don't mix them up for convenience.

Snow generally does not cause a LAYOFF, it causes fewer hours for hourly employees.  Lower withholding, not higher initial claims.

Plus, the Dept of Labor itself said that the snow was not a factor in the filing of initial claims, as most are done online or by phone. 

Anyone else watching dailyjobcuts.com?  Is this site ZH vetted, or is there a better one?

Fri, 02/19/2010 - 14:40 | Link to Comment Mr Lennon Hendrix
Mr Lennon Hendrix's picture

nah.

Fri, 02/19/2010 - 16:34 | Link to Comment Rick64
Rick64's picture

snowstorms, do you mean that literally or figuratively?

Fri, 02/19/2010 - 14:29 | Link to Comment 35Pete
35Pete's picture

Hey, I know those letters from my calculus and physics classes! 

Epsilon is permittivity, lamda is wavelength, ect..ect.. 

Fri, 02/19/2010 - 13:11 | Link to Comment Joe Sixpack
Joe Sixpack's picture

Hey what's good in the USA is good in Greece!

Fri, 02/19/2010 - 13:21 | Link to Comment Anonymous
Fri, 02/19/2010 - 14:15 | Link to Comment Ripped Chunk
Ripped Chunk's picture

Wait  6 or 8 more months if you think this is insanity.

Fri, 02/19/2010 - 13:26 | Link to Comment Biff Malibu
Biff Malibu's picture

Well, I'LL BEE DIPPPED!   (In my best Joe Dirt's dad impression)...  Mohammed Atta hit the wrong F'n building.....  you gotta be kidding me...unbelievable....

Fri, 02/19/2010 - 13:41 | Link to Comment Anonymous
Fri, 02/19/2010 - 13:44 | Link to Comment mark mchugh
mark mchugh's picture

I think the Greeks should first pay reparations to the Trojans for that ugly "Horse" incident....

Fri, 02/19/2010 - 14:21 | Link to Comment Mr Lennon Hendrix
Mr Lennon Hendrix's picture

.

Fri, 02/19/2010 - 14:01 | Link to Comment JR
JR's picture

I would agree that Goldman Sachs’ power is omnipotent but for the fact that it now has to use only an insider to keep the cover lid on all its machinations—or face a worldwide outcry. To me, that’s pure proof the squid’s power is slipping; that its internal bookkeeping problems are so big, it can’t trust anybody but one of its own to look at them, follow orders and keep his mouth shut. That, to me, is the look of an eroding power, not an increasing power. When the people finally are able to identify the problem, they begin turning against it, and the erosion of power begins.

Even the president emeritus of the Council on Foreign Relations, Leslie H. Gelb, is getting nervous.  In a February 15 article by Gelb,  Replace Rahm, The Daily Beast sums up Gelb’s article as follows:

President Obama desperately needs a sweeping staff shakeup to save his presidency. Leslie H. Gelb on why he must reassign Rahm, dump Larry Summers, and get rid of National Security adviser Jim Jones.  .

http://www.thedailybeast.com/blogs-and-stories/2010-02-15/replace-rahm/

Fri, 02/19/2010 - 14:07 | Link to Comment Anonymous
Fri, 02/19/2010 - 14:09 | Link to Comment Anonymous
Fri, 02/19/2010 - 14:10 | Link to Comment Rusty_Shackleford
Rusty_Shackleford's picture

Yow! Greece May Have $75 Billion More Of Debt Hidden Off Its Books

http://www.businessinsider.com/yow-greece-may-have-75-billion-more-of-de...

John Carney| Feb. 19, 2010, 12:27 PM

Fri, 02/19/2010 - 14:14 | Link to Comment MsCreant
MsCreant's picture

To me, the important question is, "How did they do that?" How do you get your squid in there, just as they are going to have to be accountable for what is going on? How do you make Papanicolaou step down (threat? blackmail?) and get your tentacle up in there?

WTF!

Fri, 02/19/2010 - 16:13 | Link to Comment carbonmutant
carbonmutant's picture

Blackmail is such a crude word for simply discussing the alternatives...

Fri, 02/19/2010 - 16:38 | Link to Comment Rick64
Rick64's picture

You get the IMF involved of which the U.S. is the CEO then a few promises in return for control.you get whatever you want. Read Economic Hitman by John Perkins.

Fri, 02/19/2010 - 17:55 | Link to Comment Anonymous
Fri, 02/19/2010 - 14:17 | Link to Comment Mr Lennon Hendrix
Mr Lennon Hendrix's picture

All things musical chairs.

Fri, 02/19/2010 - 14:29 | Link to Comment MsCreant
MsCreant's picture

I know you know this, but I saw you and thought I'd say it, I think you will understand:

Gold bitches!!  Woooooahhhhhhwoaaaah! Hahahahahaha!

Fri, 02/19/2010 - 14:38 | Link to Comment Mr Lennon Hendrix
Mr Lennon Hendrix's picture

;)

Fri, 02/19/2010 - 14:33 | Link to Comment Stranger
Fri, 02/19/2010 - 14:38 | Link to Comment MarketTruth
MarketTruth's picture

The Fox Is In The Hen House

Repeat, The Fox IS IN The Hen House

Fri, 02/19/2010 - 14:39 | Link to Comment Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Copy.

Fri, 02/19/2010 - 14:40 | Link to Comment Anonymous
Sat, 02/20/2010 - 08:15 | Link to Comment Anonymous
Fri, 02/19/2010 - 14:40 | Link to Comment Anonymous
Fri, 02/19/2010 - 17:58 | Link to Comment Anonymous
Fri, 02/19/2010 - 15:00 | Link to Comment Anonymous
Fri, 02/19/2010 - 15:12 | Link to Comment Jim in MN
Jim in MN's picture

 

Do you ever get the feeling

That the story's too damn real

And in the present

Tense

 

--Jethro Tull

Fri, 02/19/2010 - 15:17 | Link to Comment MsCreant
MsCreant's picture

...you're a rabbit on the run.

Fri, 02/19/2010 - 15:14 | Link to Comment Leo Kolivakis
Leo Kolivakis's picture

Did you guys ever stop to think that squids just prefer swimming near the Greek islands?

Fri, 02/19/2010 - 15:14 | Link to Comment BlackBeard
BlackBeard's picture

wow.  Greek politicos are so dumb, they're giving the fireman the middle finger while they're sitting in a burning top floor suite.

Fri, 02/19/2010 - 15:18 | Link to Comment buzzsaw99
buzzsaw99's picture

The Greeks don't want no freaks.

Fri, 02/19/2010 - 15:30 | Link to Comment Anonymous
Fri, 02/19/2010 - 15:54 | Link to Comment Anonymous
Fri, 02/19/2010 - 21:40 | Link to Comment Anonymous
Fri, 02/19/2010 - 16:14 | Link to Comment carbonmutant
carbonmutant's picture

 Good work as usual Tyler and Co.

Fri, 02/19/2010 - 21:20 | Link to Comment Anonymous
Sat, 02/20/2010 - 00:21 | Link to Comment Lionhead
Lionhead's picture

Time to get out the squid "bazooka" & blow off a few tentacles. Don't worry, new ones will grow back...

Sat, 02/20/2010 - 05:34 | Link to Comment Anonymous
Sat, 02/20/2010 - 07:30 | Link to Comment Anonymous
Mon, 02/22/2010 - 14:59 | Link to Comment Anonymous
Mon, 04/19/2010 - 08:05 | Link to Comment Tom123456
Tom123456's picture

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Tue, 11/02/2010 - 16:21 | Link to Comment smwatson
smwatson's picture

It sounds like the guy has a lot of experience. He could potentially help straighten out the economy a little bit. Another alternative is to *not* have a national bank, which makes the entire country's economy vulnerable...

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Sat, 11/06/2010 - 03:48 | Link to Comment Karston1234
Karston1234's picture

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Wed, 02/23/2011 - 02:51 | Link to Comment shawnlee
shawnlee's picture

"Now the wheel is coming around full circle and it's becoming obvious that covert control has run it's course and overt in-your-face control is the new fashion statement of the powers that be."

You are a wise man and marching towards becoming a Zen Master. I value your comments a lot.

btw. Thanks for your insightful article you posted earlier.
I was thinking to ask you a few questions, but I was caught up in a few things. Now I forget what I want to ask. :)

Whe I see your part II, I will remember to ask.

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Thu, 03/24/2011 - 01:42 | Link to Comment george22
george22's picture

"The real scene of the Iliad and the Odyssey can be identified not in the Mediterranean Sea, where it proves to be weakened by many incongruities, but in the north of Europe. The sagas that gave rise to the two poems came from the Baltic regions, where the Bronze Age flourished in the 2nd millennium B. C. and many Homeric places, such as Troy and Ithaca, can still be identified. The blond seafarers who founded the Mycenaean civilization in the 16th century B. C. brought these tales from Scandinavia to Greece after the decline of the "climatic optimum". Then they rebuilt their original world, where the Trojan War and many other mythological events had taken place, in the Mediterranean; through many generations the memory of the heroic age and the feats performed by their ancestors in their lost homeland was preserved, and handed down to the following ages. This key allows us to easily open many doors that have been shut tight until now, as well as to consider the age-old question of the Indo-European diaspora and the origin of the Greek civilization from a new perspective."
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Wed, 04/20/2011 - 06:15 | Link to Comment shawnlee
shawnlee's picture

Trojan War and many other mythological events had taken place, in the Mediterranean; through many generations the memory of the heroic age and the feats performed by their ancestors in their lost homeland was preserved, and handed down to the following ages. This key allows us to easily open many doors that have been shut tight until now, as well as to consider the age-old question of the Indo-European diaspora and the origin of the Greek civilization from a new perspective."

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Mon, 05/23/2011 - 00:16 | Link to Comment kummar
kummar's picture

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Tue, 05/31/2011 - 00:36 | Link to Comment kummar
kummar's picture

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sun1's picture

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Tue, 06/28/2011 - 15:25 | Link to Comment rockey
rockey's picture

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Tue, 07/12/2011 - 00:14 | Link to Comment newdeals2
newdeals2's picture

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Tue, 07/26/2011 - 00:58 | Link to Comment newdeals2
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