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Insolvent National Bank of Greece To Buy Insolvent Alpha Bank
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...
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It's all greek to me.
It's actually a US logic:
1. Become a TBTF Bank, 1 idiot is a idiot, a lot of idiots are a interest group.
2. Get free cash
3. Fuck the rest
Fuck the rest? Would that be normal or 'Greek' (for those unfamiliar, doing it Greek style means 'rear-entry' (anal).
The question is, do banksters use lube or not?
The new banks name will be APHA & OMEGA
The perfect name for a weapon of mass destruction
Actually, I thought rear-entry was called "Muslim Style".
Just ask the Egyptians, they've been taking it up the ass from Hosni and friends for over thirty years.
Of course, the Americans have been learning to like it since Treasury Secretary Hank Paulson's, if we don't get TARP we'll have financial Armageddon and martial law tripe.
I am sure all you ZHers are familiar with the meaning of "Greek style" :)
All is normal.
More desperation acts. Reality has been suspended along with accounting standards.
One more display of what happens when capitalism is not allowed to be capitalism...ie; no bank is allowed to fail so they become a forever drag on the economy of the soverign and the entire world.
Mr Market always wins so this will continue till it doesn't. All the worlds central bankers will not overcome Mr Market.
It's worked for over 20 years in Japan, so maybe good ole ChairSatan can extend and pretend for the next 20 years in America.
When you merge holes, does the whole hole exceed the nothingness of the 2 holes separately?
Black Scholes, Black Holes, same difference.
But, on topic, I just realized that insolvent entities can never go back into the mix.
See? In-solvent. And two in-solvent entities can never merge, they can just stick it to each other as they both go down.
In other news, India plans to raise gold import duties as they feel they did not scam the public enough with all their other shennanigans. Nice to have a government that thinks about it's people, so....welll.... macroprudentially, eh?
ORI
http://aadivaahan.wordpress.com/2011/02/16/truth-about-america-truth-about-us/
"μα?ρη scholes, μα?ρες τρ?πες, ?δια διαφορ?. Αλλ?, στο θ?μα, μπορ? μ?νο συνειδητοπο?ησαν ?τι αφερ?γγυα φορε?ς δεν μπορο?ν ποτ? να επιστρ?ψουμε στο μ?γμα. Βλ?πε; σε διαλ?τη. και δ?ο σε διαλ?τη φορε?ς δεν μπορο?ν ποτ? συγχωνευθο?ν, μπορο?ν να εμμ?νει απλ?ς σε κ?θε ?λλο ?πως και οι δ?ο ακολουθ?σουμε. Σε ?λλες ειδ?σεις, η Ινδ?α προτ?θεται να θ?σει χρυσο? εισαγωγικ?ν δασμ?ν, ?πως θεωρο?ν ?τι δεν σκ?νδαλο το Δημ?σιο αρκετ? με ?λες τις ?λλες shennanigans.
But, see, if you say that you are "almost solvent" (insolvent), then it sounds OK and there would be no "insolvency".
Kinda like the glass is half-full instead of half-empty.
Semantics, it's the last line defense when all else fails. Argue over meaning of words. (See Clinton, Bill or any attorney)
no such thing as a hole, just a minor dip and we all know what to do with dips don't we:-)
Hagakure --> Hidden by the leaves (that sounds like...fiat!)
...does the whole hole exceed the nothingness of the 2 holes separately?
that's a Quantum Physics question i think which sorry can't help and by the looks of it nor can Bernanke!
Depends how you channel the anti-matter.
In Bernankenstein's new monetary paradigm, all debts are negated by the creation of an equal and opposite amount of anti-debt in the parallel universal central bank. Net net, there is no real debt if you can incite enough inflation
think 'Fiat Theory' and the Feds hypothesis of an inkjet printer that has infinite ink
So, there's a worm hole in the Eccles building? Is the parallel universe Benank beardless?
the worm hole leads to US citizens... it's another Fed Theory that taxpayers are an infinite source of money for Earth Worms (parasites) ...they're testing their 100 Yr T-Bill Space & Time vehicle down the tube soon to see how far they can take the theory of infinite bailouts (socialism for USG and WS worms)
It is the Higgs-Bernank debt boson.
His penis has the beard there.
When they merge they take on each other like in a marriage, so all they need to do is share their debt obligations halving the problem. 'A problem shared is a problem halved'.
This reminds of Japan in the 1990s. But does Greece have any alternative? Almost every Greek bank is insolvent. If you let all of them fail, there would be chaos.
Yeah, you can crank the printing press up to full speed, thereby solving the problem once and for all.
Yeah. But total chaos will come soon or later. Guess we may have to go back to barter in 2-3 years.
Gold and silver, fiatchez!
Name change... Alpha Bank now to be Omega Bank...
'Name change... Alpha Bank now to be Omega Bank...' To be shortened to the OMG Bank.
Herman Strand Schnecke
Well, I only have gold and silver bars so it will be difficult for them to give me the change...
At silvertown, you can let your silver bars be melted into 1 oz bars/coins for 1.2$ per oz.
see Iceland for your Chaos Theory ...banks go bankrupt (brief chaos)... then order of new green shoot banks begin to grow... it beats chaos followed by bailouts followed by more chaos followed by more bailouts followed by ...well you get it by now!!
Definitely! Can we shorten it to 'Japan Syndrome'?
'The Icelandic Lesson' is let the bwankers fail. It clears all the shit out in a year flat. The UK, EU and US methology has dragged this shit across the entire economic landscape for years with constant bailouts.... and as you mention Japan has been 'zombied' in the socialist disease for 20 years. The West has a brain no bigger than a peanut (socialists in a nutshell) ....move to Iceland anyone?
Maybe Portugal will buy Spain
ROFL
+1
With Irish bridge loans!
Priceless! lol
Its working. Futures turned green. Thanks ZH ( and Cramer ) for your encouragement to buy more stocks. All that talk about destabilization , Earnings and debt does get a bit conflicting sometimes. Thank god for the Bernanke to clear things up.
double up on dumb ...it's a winning strategy
Can't you guys even handle basic math? This is genius.
-1 * -1 = 1
yes that's what Bernank and Trichet had too
I believe that was one of yesterdays captcha's
-1 + -1 > 0 ?!
National Bank of Mo Green: you don't buy me out Alpha Bank, I buy you out
NBG paying in fairy dust.
It's what's for dinner.
May you find water and shade.
You are correct, all they are doing is eating their tail because they are hungry.
Soon to be coming to Ireland.
On a completely different subject...
TUNIS – Ousted Tunisian president Zine El Abidine Ben Ali suffered a stroke and was "in a coma" in a Saudi hospital, a family friend said Thursday, as more details of corruption under his rule came to light.
The 74-year-old former leader slipped into a coma "two days ago" while being treated in a Jeddah hospital after a stroke, according to the friend.
Doctors are also exploring the possibility that he ingested 1.5 tons of gold, leading to what is known as gold fever.
I don't believe in coincidences at this level.
'Smelting fumes probably.
Just another 'Ken Lay' event... When the going gets tough, the tough have a severe medical problem.
At least it wasn't a heart attack in a jacuzzi...again.
With a dead hooker included.
it would be great if it was 0 + 0 since you would end up with what you started with. the problem is -x + -y = -z where -x>-y then -z<-y<-x.
Φερ'τα αγγουρι,να φερω τη ντοματα,να τα κανουμε ΣΑΛΑΤΑ
Cucumbers, tomateos and salad?
You got it .... it's .... slang reference .... akin to [scuzi] tossed salad. LOOOL
Also,
Tyler, it says NBG/Alpha share ratio 8/11 &ownrshp 79/21%,3Q10: Tier1 10.7%,loan/deposits 109% [both v high4 EU]-27th largest EU Bank
Το zerohedge γινεται Ελληνικο!!!!!!!!!!
Για σου φιλαρακο, ελα βρες με στο τγιτερ ;)
What is amazing is that as emerging market lending conditions deteriorate, consumer stocks go up even faster!
Two years ago, nobody even heard of PIIGS, Tunesia, Egypt, etc.
Two years ago, LULU was trading at $5, CMG at $50, PNRA at $40
Today, LULU is at $80, CMG at $260, PNRA at $120
LOL.....the perma-gloomers must be pulling their hair out.
actually no the perma-bears are ordering bubbly and setting bear-traps ...this MF is about to blow, trust in the bear
Why would they be pulling their hair out? It is quite known what is causing stocks to go up like they have. Especially since none of those bad derviatives have unwound, mearly shifted to the Fed or marked to unicorn.
American/European PM buyers are having little effect on PMs...except JPM/HSBC in a negative sense. The Indians and Chinese are the movers in PMs. And, any increase in interest rates in the US will be accompanied by a stock market decline, real estate tanking further, and a rising dollar which will not help exports. Rock meet hard place.
"You've got to go a long way to over-state the strength of physical gold demand in 2010. The Dollar price rose 26%, but total global demand still grew 9% by volume, hitting its highest tonnage since the long bear market of the 1980s and '90s hit rock-bottom in 2000."
...and...
"Looking at today's Gold Demand Trends report, you can forget about central banks (net gold buyers in 2010 though they were, as a group, for the first time in two decades). Don't dwell on "safe-haven" Western demand either (other than to note how new ETF demand and "unallocated" trading in the wholesale, off-exchange market both slipped 45% from 2009's record highs, while coin and bar demand surged worldwide). Indian and Chinese private households are the knock-out story from 2010's data. The Indian figures in particular beggar belief.
The world's two most populous nations, its fastest-growing major economies, and numbers one and two for physical gold buying, both India and China set new records for private gold demand by value and volume in full-year 2010. On our reading of the new World Gold Council data, per capita consumption also set fresh records in the top two demand countries."
http://news.goldseek.com/BullionVault/1297952444.php
and of course old catfish mouth robo uber bull bear wanna be was writing in these very pages two weeks ago that he was looking to time the top, and make his year. but not to worry the old catfish mouth has it on good authority, through careful research and analysis, that the jpm silver short is a myth. and he plans on minting money off the silver fools with an "all in" silver short. because as is evident from his writing the old catfish mouth puts his money where his mouth is.
btw: anybody got a quote on theglobe.com?
This is why the captcha's always get me. Doesn't a negative + a negative = a positive? That’s the idea right?
It used to... Perhaps math was discarded along with accounting standards and no one bothered to tell us...Perhaps Tyler IS telling us in a subtle way?
-x * -y = xy
-x + (-y) = -x-y
Some hot zombie on zombie porn always gives mr. market a big green boner.
This is like Llloyds buying HBOS in the UK, it was madness then, its till mad now!
When you use government math anything is possible including a bankrupt bank buying out another bankrupt bank
http://www.youtube.com/watch?v=XjvLrmmXm-0
5 divided by 25 = 14.............................BITCHEZ!
how does a bankrupt bank buy (where's your f'n money?) another bankrupt bank? Do they swap debt, liquidation notices or something!
Good question.
Maybe they just swap a tea cup with their banks logo printed on it and then shake on it.
In BenBernakistan anything is possible.
Its like a Romero film where the zombies are attacking the zombies and the living are just standing around, scratching their heads with a big "WTF" expression on their faces.
The citizens are taking it "greek", whether they like it or not.
Deal canceled
Seems that even insolvent bank can be picky on who they go into bed with.
02-18 12:44: Greece's Alpha Bank rejects National Bank of Greece's takeover bid, saying it wasn't in the interest of shareholdersThey learned that trick about getting big really fast from Wells Fargo.