Insolvent National Bank of Greece To Buy Insolvent Alpha Bank

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Fri, 02/18/2011 - 10:04 | 973770 Misean
Misean's picture

It's all greek to me.


Fri, 02/18/2011 - 10:15 | 973808 Sudden Debt
Sudden Debt's picture

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

Fri, 02/18/2011 - 10:43 | 973896 MarketTruth
MarketTruth's picture

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?

Fri, 02/18/2011 - 10:47 | 973909 Sudden Debt
Sudden Debt's picture

The new banks name will be APHA & OMEGA

The perfect name for a weapon  of mass destruction


Fri, 02/18/2011 - 11:04 | 973963 Pure Evil
Pure Evil's picture

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.

Fri, 02/18/2011 - 11:41 | 974162 Monday1929
Monday1929's picture

I am sure all you ZHers are familiar with the meaning of "Greek style" :)

Fri, 02/18/2011 - 10:05 | 973772 papaswamp
papaswamp's picture

All is normal.

Fri, 02/18/2011 - 10:50 | 973914 Snidley Whipsnae
Snidley Whipsnae's picture

More desperation acts. Reality has been suspended along with accounting standards.

One more display of what happens when capitalism is not allowed to be; 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.

Fri, 02/18/2011 - 11:25 | 974073 Pure Evil
Pure Evil's picture

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.

Fri, 02/18/2011 - 10:06 | 973777 Misean
Misean's picture

When you merge holes, does the whole hole exceed the nothingness of the 2 holes separately?

Fri, 02/18/2011 - 10:13 | 973798 Oh regional Indian
Oh regional Indian's picture

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?


Fri, 02/18/2011 - 10:19 | 973819 Oh regional Indian
Oh regional Indian's picture

"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.

Fri, 02/18/2011 - 11:37 | 974142 Almost Solvent
Almost Solvent's picture

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)

Fri, 02/18/2011 - 10:34 | 973870 tonyw
tonyw's picture

no such thing as a hole, just a minor dip and we all know what to do with dips don't we:-)

Fri, 02/18/2011 - 10:13 | 973800 snowball777
snowball777's picture

Our bodies are given life from the midst of nothingness. Existing where there is nothing is the meaning of the phrase, ‘Form is emptiness.’ That all things are provided for by nothingness is the meaning of the phrase, ‘Emptiness is form.’ One should not think that these are two separate things. - Hagakure


Hagakure --> Hidden by the leaves (that sounds!)

Fri, 02/18/2011 - 10:17 | 973811 Zero Govt
Zero Govt's picture

...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! 

Fri, 02/18/2011 - 10:23 | 973834 Caviar Emptor
Caviar Emptor's picture

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

Fri, 02/18/2011 - 10:27 | 973842 Zero Govt
Zero Govt's picture

think 'Fiat Theory' and the Feds hypothesis of an inkjet printer that has infinite ink

Fri, 02/18/2011 - 10:27 | 973850 Misean
Misean's picture

So, there's a worm hole in the Eccles building? Is the parallel universe Benank beardless?

Fri, 02/18/2011 - 10:43 | 973892 Zero Govt
Zero Govt's picture

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)

Fri, 02/18/2011 - 11:09 | 973976 Rodent Freikorps
Rodent Freikorps's picture

It is the Higgs-Bernank debt boson.

Fri, 02/18/2011 - 11:43 | 974177 Monday1929
Monday1929's picture

His penis has the beard there.

Fri, 02/18/2011 - 11:09 | 973985 Herman Strandsc...
Herman Strandschnecke's picture

 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'.

Fri, 02/18/2011 - 10:06 | 973779 eigenvalue
eigenvalue's picture

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.

Fri, 02/18/2011 - 10:16 | 973807 EscapeKey
EscapeKey's picture

Yeah, you can crank the printing press up to full speed, thereby solving the problem once and for all.

Fri, 02/18/2011 - 10:19 | 973820 eigenvalue
eigenvalue's picture

Yeah. But total chaos will come soon or later. Guess we may have to go back to barter in 2-3 years.

Fri, 02/18/2011 - 10:20 | 973824 EscapeKey
EscapeKey's picture

Gold and silver, fiatchez!

Fri, 02/18/2011 - 10:28 | 973853 Snidley Whipsnae
Snidley Whipsnae's picture

Name change... Alpha Bank now to be Omega Bank...

Fri, 02/18/2011 - 11:12 | 974001 Herman Strandsc...
Herman Strandschnecke's picture


'Name change... Alpha Bank now to be Omega Bank...'  To be shortened to the OMG Bank.


Herman Strand Schnecke

Fri, 02/18/2011 - 10:29 | 973857 eigenvalue
eigenvalue's picture

Well, I only have gold and silver bars so it will be difficult for them to give me the change...

Fri, 02/18/2011 - 10:34 | 973868 Sudden Debt
Sudden Debt's picture

At silvertown, you can let your silver bars be melted into 1 oz bars/coins for 1.2$ per oz.


Fri, 02/18/2011 - 10:50 | 973912 Zero Govt
Zero Govt's picture

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!! 

Fri, 02/18/2011 - 10:51 | 973921 Snidley Whipsnae
Snidley Whipsnae's picture

Definitely! Can we shorten it to 'Japan Syndrome'?

Fri, 02/18/2011 - 11:13 | 974002 Zero Govt
Zero Govt's picture

'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?

Fri, 02/18/2011 - 10:07 | 973780 Sophist Economicus
Sophist Economicus's picture

Maybe Portugal will buy Spain

Fri, 02/18/2011 - 10:23 | 973837 Misean
Misean's picture



With Irish bridge loans!

Fri, 02/18/2011 - 10:08 | 973785 Dick Darlington
Dick Darlington's picture

Priceless! lol

Fri, 02/18/2011 - 10:18 | 973790 plocequ1
plocequ1's picture

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.

Fri, 02/18/2011 - 10:12 | 973796 Zero Govt
Zero Govt's picture

double up on dumb's a winning strategy

Fri, 02/18/2011 - 10:12 | 973799 SpeakerFTD
SpeakerFTD's picture

Can't you guys even handle basic math?   This is genius.

-1 * -1 = 1



Fri, 02/18/2011 - 10:20 | 973821 Zero Govt
Zero Govt's picture

yes that's what Bernank and Trichet had too

Fri, 02/18/2011 - 10:21 | 973827 Dapper Dan
Dapper Dan's picture

I believe that was one of yesterdays captcha's

Fri, 02/18/2011 - 10:22 | 973829 snowball777
snowball777's picture

-1 + -1 > 0 ?!

Fri, 02/18/2011 - 10:12 | 973801 Josh Randall
Josh Randall's picture

National Bank of Mo Green:  you don't buy me out Alpha Bank, I buy you out

Fri, 02/18/2011 - 10:13 | 973802 Thunder Dome
Thunder Dome's picture

NBG paying in fairy dust.

Fri, 02/18/2011 - 10:14 | 973804 Cognitive Dissonance
Cognitive Dissonance's picture

It's what's for dinner.

Fri, 02/18/2011 - 10:56 | 973866 Caviar Emptor
Caviar Emptor's picture

Fri, 02/18/2011 - 11:11 | 973994 Rodent Freikorps
Rodent Freikorps's picture

May you find water and shade.

Fri, 02/18/2011 - 19:34 | 976012 Buck Johnson
Buck Johnson's picture

You are correct, all they are doing is eating their tail because they are hungry.

Fri, 02/18/2011 - 10:13 | 973805 curbyourrisk
curbyourrisk's picture

Soon to be coming to Ireland. 

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