Insolvent National Bank of Greece To Buy Insolvent Alpha Bank

Tyler Durden's picture

When one insolvent bank buys another insolvent bank, you know things are swell. National Bank of Greece, best known for being bankrupt, has just announced it will buy Greek Alpha Bank best known for also being bankrupt. Remember: when in doubt, use taxpayer capital to become TBTF, even as you have determined billions in bonus payouts (but not in a public filing of  ourse). Worked great for John Thain...