This Message Saluting The Latest Banker Bailout Via The Greek Conduit, Brought To You By Dexia

Tyler Durden's picture

The world's most insolvent bank, Belgium's Dexia of course, is happy to bring this message of solidarity with the disenfranchised people of Greece who will be a fund flow conduit to keep Dexia alive for 3-6 months, via its subsidiary, the European Council: "With today's approval by the Greek Parliament of the revised economic programme, the country has taken an important step forward along the necessary path of fiscal consolidation and growth-enhancing structural reform. But it has also taken a vital step back – from the very grave scenario of default. This was a vote of national responsibility." No point in even pointing out the unbearable hypocrisy there.

Europe on Greece

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TruthInSunshine's picture


In the right column as of now (9:51 am est) is the RAN Squawk headline of the day:

Latest News From RAN Squawk


bernorange's picture

I've got one more appropos for the topic:

"The Federal Reserve extended its program to provide emergency currency swap lines to the European Central Bank last week as the euro zone's sovereign debt crisis deepened, the Wall Street Journal reported on Wednesday.

The swap lines allow foreign central banks, including the ECB, the Bank of England and the Canadian, Japanese and Swiss central banks to borrow an unlimited amount of dollars for a fee and lend them out to banks in their home countries.

The program was set to expire Aug 1. Its extension was approved by a vote during last week's Federal Open Market Committee meeting, the Journal said.

US Taxpayers are going to pay for the PIIGS bailouts.  Yeah!

G-R-U-N-T's picture

An obsession is defined as an idea that rules out all other ideas to the contrary.

It will take impoverishment and destitution for those to recover from the world's "Bailout Obsession".

Version 7's picture

Notice the eye shape? What a freaks.

CPL's picture

notice the bailout is for the Belgium banks that back the EU.  Wouldn't want that useless codpiece to go without it's own printed capital it just bailed out Greece with to cover it's own IOU's.


Can someone tell me in what universe people get to pay off themselves with their own captial on money that they owed in the first place.


We need a Metaphysics Doctorate in here to explain this nonsense...or a priest...or a deranged hobo.

john39's picture

they leave their calling cards everywhere.  not sure if its their vanity or some sort of psy-op.  the eye represents their "god", who has gone by many names through history.  looking at his followers behavior, its not hard to know who we are talking about.

duo's picture

In Greece, stealing manhole covers or copper from light poles is no longer a crime against the's stealing bank-owned property.  The banks better get some Xe goons down there fast before everything that's not nailed down is stolen or vandalized.

Cdad's picture

 "With today's approval by the Greek Parliament of the revised economic programme, the country has taken an important step forward along the necessary path of fiscal consolidation and growth-enhancing structural reform."

Someone at Dexia actually said this?  I defy ANYONE to support that bolded portion with ANY facts whatever.  If the plan passed today is actually implemented, Greece will be in a 100 year recession.

wandstrasse's picture

100 year recession.

what about 1000 years? In his very early speeches, still in front of just some dozens of listeners, Hitler did nothing but read out the Versailles Treaty. Let us see, if some Greek postcard-artist starts to read out the 'revised economic programme' passed today.

Bay of Pigs's picture

"Well, fiscal responsibility isn't exactly pro growth and we all know you have to spend your way out of hard times".

Linda Nazareth (BNN, Canadian financial news analyst)

I guess having a housing bubble and running consumer debt to GDP @ 147% solves those kinds of "problems"? Just keep borrowing and spending.

oogs66's picture

Hi, my name is Dexia, it has been 26 months since I've been insolvent but I pledge to continue to use every trick possible to remain insolvent.  I couldn't have done this without your support.

Lone Mad Minute Medic's picture

Don't fight the tape. BTFD! NFLX to the moon!

Caviar Emptor's picture

...And we have tear gas and clubs if you nice Greek people won't comply with our bailout. We expect full and respectful cooperation. 

PaperBear's picture

"growth-enhancing" ? Give me a break, the Greek economy will crash further thanks to the tax hikes and the spending cuts. Oh and the pennies-on-the-dollar asset sales will leave the state with an empty cupboard.

alien-IQ's picture

just caught a glimpse of CNBC and just about fell down laughing. The latin chick with the big boobs just said "The vast majority of the people here are anarchists. You can tell that they are by the way they are dressed". I shit you not. So...the question is: What is todays fashion conscious anarchist wearing and how does it differ from the fashion conscious fascist?

ebworthen's picture

Saw that too, had her goggles on.

The Greeks will be slaves to the banks and politicians until they bang some heads.

Peaceful protests aren't going to do a damn thing.

The politicians won't vote to support the will of the people until they fear for their lives.

Crack-up Boom's picture

Ha!  Good to have something to laugh at in this tragedy.  "Ooh, Honey, you can't wear that today, that's for anarchy and we're fascists today."

Tuco Benedicto Pacifico Juan Maria Ramirez's picture

Most anarchists in demonstrations are local police dressed up like anarchists.  These agent provocateurs usually don't have enough sense to wear other than their police style shoes.



King_of_simpletons's picture

Bigger, better and more spectacular financial crisis coming soon.... *clap clap clap* Lots of popcorn and beer this time.

BennyBoy's picture

Dear Dexia,

How is going deeper into debt "...restoring hope to the greek people."?

Isn't it really "...restoring hope to the Dexia bond and share holders."?



A Bagholder AKA a greek taxpayer

ebworthen's picture


Head equity fund manager for J.P. Morgue on CNBC being an arrogant ass talking about equities being "oversold" and that Medicare and SS need to be cut and the U.S. populace needs "austerity."

I've got some austerity for those assholes and it is physical.

B of A pays pocket change for breaking the rule of law and no one goes to jail?

I cannot believe these warlocks and harpies - I CAN'T WAIT to riot - I am so sick of this BULLSHIT. 


eurusdog's picture

First timein years I have heard this song, Jump for Joy - Warrior Soul.


populations multiply, there are holes in the sky
tv man shit on you, you love to be screwed
packaging maniac, guarenteed money back
a no-money superstar, the u.s. on credit cards

jump for joy oh jump for joy
worlds end
jump for joy oh jump for joy
worlds end

mendigo's picture

so basically the whole "greece is going to sink into the mediteranian and drag europe with it" hypothesis was bullshit

you crack-pots underestimate the machine

you are not worthy

John Galt

buzzsaw99's picture

dr. evil was raised by belgians, that's why he became so damned evil.

Cole Younger's picture

They may have technically aproved austerity however, it appears the Greek people don't agree.

PulauHantu29's picture

Shortly after the vote I read GS may try to file to secure its collateral---the Acropolis--and triple the entrance fees or even worse....move the whole ancient ruin to Long Island and charge quadruple the price!

slewie the pi-rat's picture

i'll bet disney loved belgium, b/c gorgeous young women from spain and italy would go there and become royal queeens and princesses.  you can imagine the money that needed borrowing, just for the sashes.  poirot is in charge there now, is he not?

spanish inquisition's picture

"This was a vote of national responsibility."

If G-Pap were king during the battle of Themopylae, they would all be speaking Persian right now...

ArrestBobRubin's picture

Greek friends, lots of you will want to want to be sure to get together for a visit to any and all Dexia branches in Greece today. In order to show these Belgian gentlemen just how how strongly you approve and all.

dexter_morgan's picture

cradle to grave socialism fading slowly away...........