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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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Wed, 06/29/2011 - 09:59 | 1411587 TruthInSunshine
TruthInSunshine's picture

OT:

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

Latest News From RAN Squawk

 

Wed, 06/29/2011 - 11:44 | 1412030 bernorange
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.
..."

http://www.reuters.com/article/2011/06/29/usa-fed-ecb-swap-idUSN1E75S04120110629

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

Wed, 06/29/2011 - 10:01 | 1411593 G-R-U-N-T
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".

Wed, 06/29/2011 - 09:57 | 1411594 Version 7
Version 7's picture

Notice the eye shape? What a freaks.

Wed, 06/29/2011 - 10:09 | 1411620 CPL
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.

Wed, 06/29/2011 - 10:36 | 1411734 john39
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.

Wed, 06/29/2011 - 10:02 | 1411596 duo
duo's picture

In Greece, stealing manhole covers or copper from light poles is no longer a crime against the state...it'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.

Wed, 06/29/2011 - 09:58 | 1411597 Cdad
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.

Wed, 06/29/2011 - 10:13 | 1411638 wandstrasse
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.

Wed, 06/29/2011 - 10:19 | 1411623 Bay of Pigs
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.

Wed, 06/29/2011 - 10:07 | 1411628 oogs66
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.

Wed, 06/29/2011 - 10:11 | 1411629 Lone Mad Minute...
Lone Mad Minute Medic's picture

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

Wed, 06/29/2011 - 10:07 | 1411632 Caviar Emptor
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. 

Wed, 06/29/2011 - 10:17 | 1411635 PaperBear
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.

Wed, 06/29/2011 - 10:10 | 1411640 alien-IQ
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?

Wed, 06/29/2011 - 10:18 | 1411679 ebworthen
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.

Wed, 06/29/2011 - 10:19 | 1411681 Crack-up Boom
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."

Wed, 06/29/2011 - 13:15 | 1412514 Tuco Benedicto ...
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.

 

Tuco

Wed, 06/29/2011 - 10:11 | 1411650 King_of_simpletons
King_of_simpletons's picture

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

Wed, 06/29/2011 - 10:17 | 1411653 BennyBoy
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."?

 

Sincerely,

A Bagholder AKA a greek taxpayer

Wed, 06/29/2011 - 10:15 | 1411662 ebworthen
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. 

 

Wed, 06/29/2011 - 10:14 | 1411665 carbonmutant
carbonmutant's picture

Hunger Bitchez...

Wed, 06/29/2011 - 10:16 | 1411673 eurusdog
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

Wed, 06/29/2011 - 10:27 | 1411704 mendigo
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

Wed, 06/29/2011 - 10:49 | 1411753 buzzsaw99
buzzsaw99's picture

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

http://www.youtube.com/watch?v=lTJj4wbmAhk

Wed, 06/29/2011 - 10:55 | 1411764 Cole Younger
Cole Younger's picture

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

Wed, 06/29/2011 - 11:05 | 1411807 PulauHantu29
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!

Wed, 06/29/2011 - 11:15 | 1411827 slewie the pi-rat
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?

Wed, 06/29/2011 - 11:12 | 1411836 spanish inquisition
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...

Wed, 06/29/2011 - 11:30 | 1411928 ArrestBobRubin
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.

Wed, 06/29/2011 - 11:44 | 1412026 dexter_morgan
dexter_morgan's picture

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

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