Greeks Sought Irish Central Bank Counsel. No, Seriously!

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Wed, 09/28/2011 - 03:31 | 1717607 dlmaniac
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Wonder when OweBummer will call Bernie Madoff for advice.

Wed, 09/28/2011 - 05:18 | 1717684 Cynical Sidney
Cynical Sidney's picture

'to share experiences gained' lolz

'to share alcoholic drank' makes more sense

Wed, 09/28/2011 - 09:58 | 1718196 covert
covert's picture

when people in love with failure get together and they always do, the results are fascinating.


Wed, 09/28/2011 - 00:53 | 1717436 Gubbmint Cheese
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Wed, 09/28/2011 - 01:20 | 1717465 chindit13
chindit13's picture

Pardon the interruption, but that would be Pappy Leprechaunopolos

Wed, 09/28/2011 - 00:54 | 1717439 dellbalboa
dellbalboa's picture

The blind leading the blind indeed.

Wed, 09/28/2011 - 00:55 | 1717441 zorba THE GREEK
zorba THE GREEK's picture

The Greeks need to get advice from Iceland not Ireland.

Wed, 09/28/2011 - 01:22 | 1717468 chindit13
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No Spellcheck at the Greek Central Bank.  Austerity, you know.

Wed, 09/28/2011 - 01:24 | 1717474 Peter K
Peter K's picture

Yes, but in this crazy ole world we live in, or rather the one that our progressive socialist leftists elites have constructed for us, it's the Icelanders who are getting advice from the ECB. And their gov is seriosly thinking about jumping into the Euromess. You just can't make this up:(

Wed, 09/28/2011 - 00:57 | 1717443 Fips_OnTheSpot
Fips_OnTheSpot's picture

LMAO! This is hilarious. -- and a nice gain for the "conslutants", 30m for stating the obvious.

Wed, 09/28/2011 - 01:11 | 1717457 UP Forester
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ICB:  "So, how bad is it, laddy?"

BR:  "You need to add a lot more Euros to make your banks solvent.  Want us to take care of it?"

ICB:  "Sure, here's a cheque from Dr. Bernanke."

BR:  "Depositing it now.  Aaaannnnddd......

      's gone."

Wed, 09/28/2011 - 01:59 | 1717520 M.B. Drapier
M.B. Drapier's picture

It seems there were relatively few Bernankebucks for the Irish banks, unlike other EU financial institutions we could name. (AIB did get some Fed liquidity.)

Wed, 09/28/2011 - 01:02 | 1717446 Hansel
Hansel's picture

They paid €30 million to some consultants to tell them they need another €24 billion?  Where do I sign up?  Hey Greece, you need €200 billion.  That will be €50 million please.

P.S. Benron, King Telepromptus, and Turbo are back in a new cartoon uncomparable to anything seen in the MSM:  This Plan Will Work

Wed, 09/28/2011 - 01:21 | 1717466 Peter K
Peter K's picture

Excellent video, but I think the producers might inadvertantly be reinforcing a stereotype. :)

Wed, 09/28/2011 - 01:07 | 1717450 Steroid
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Meh, they just wanted a Greek vacation.

Both will milk their system as long as they can.

Wed, 09/28/2011 - 01:19 | 1717452 TruthInSunshine
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Given what the the EU has proposed lately (unicorns, rainbows & pixie dust), they really should hire Madoff, Ebbers, Allen Stanford, Dennis Kozlowski or Paul Krugman as Chief Advisor.

By the way, whatever did happen to the nuclear physicists-turned-financial-quants from Long Term Capital Management?

The Bernank is already under contract with the Rothschilds, and that's a contract one doesn't want to break (although The Bernank is a true master of slight-of-hand).

...wait...Hank 'Tanks In The Street Immediately' Paulson is free, right?


p.s. (Yes, this is a true news report, and not an Onion parody):

09-27 16:53: Germany and America were on a collision course on Tuesday night

News Headline Summary
"Germany and America were on a collision course on Tuesday night over the handling of Europe's debt crisis after Berlin savaged plans to boost the EU rescue fund as a stupid idea and told the White House to sort out its own mess before giving gratuitous advice to others."
Wed, 09/28/2011 - 01:42 | 1717491 chump666
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and in about 3 days US crappy economic news hits the wires. 

Wed, 09/28/2011 - 06:45 | 1717758 tom a taxpayer
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TruthInSunshine - Thank you for the information, analysis, and news links over the past several days. This news from a link you posted I think is game, set, and match if the rules and referee are obeyed.

"Andreas Vosskuhle, head of the constitutional court, said politicians do not have the legal authority to sign away the birthright of the German people without their explicit consent....Dr Vosskuhle said that the improvisation of far-reaching policies had become "dangerous", and warned against schemes to circumvent the rule of law with backroom deals. "Germany has a great affinity for the rule of law. People expect the political class to obey the rules."

Wed, 09/28/2011 - 01:17 | 1717462 mfoste1
mfoste1's picture

milk through the nose***

Wed, 09/28/2011 - 01:26 | 1717480 Ye Ye
Ye Ye's picture

If they sought the advice of the Central Bank of Iceland instead, they'd be in better shape.

Wed, 09/28/2011 - 01:38 | 1717492 Shell Game
Shell Game's picture

Three Irishmen walk out of a bar...

Wed, 09/28/2011 - 01:49 | 1717511 chump666
chump666's picture

forget Greece...

0532 GMT [Dow Jones] Hong Kong's midday short sales ratio is at an elevated 11.7%, with total short-selling volume at HK$4.37 billion, reflecting bears' view that the HSI's 4.2% rally Tuesday may be just a one-day wonder, and the market is resuming its downtrend (the HSI is down 0.9% at midday). Tencent (0700.HK) tops the list with HK$403.93 million, followed by China Mobile (0941.HK) with HK$288.93 million, HSBC (0005.HK) with HK$242.88 million. Then come China Construction Bank (0939.HK) with HK$232.81 million, and Cnooc (0883.HK) with HK$154.02 million

Wed, 09/28/2011 - 01:50 | 1717512 ambrosiac
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Venizelos was overheard whistling "Danny Boy".


Where, oh where is the luck of the Irish?

Wed, 09/28/2011 - 06:38 | 1717752 tom a taxpayer
tom a taxpayer's picture

Greece hoping to get Lucky Charms.

Wed, 09/28/2011 - 01:51 | 1717513 chump666
chump666's picture

ZH you see this?  Major Yuan sell off Asia/HK session!

SHANGHAI (Dow Jones)--The yuan Wednesday nearly hit the lowest level in its daily trading band set by the Chinese central bank, due to month-end importer demand for dollars and despite earlier efforts by Beijing to guide its currency higher.

Wed, 09/28/2011 - 02:04 | 1717515 M.B. Drapier
M.B. Drapier's picture

Oh, but haven't you heard? After a cut in our bailout interest rate and two quarters of actual growth driven by exports the Republic of Ireland is back on track, baybeee! We are now happily motoring on through the dark tunnel, towards the headlights of the oncoming global deflationary slump.

PS: Irish Banks, your cut-out-and-keep guide:

  • AIB = Allied Irish Bank(s). AIB =/= Anglo Irish Bank. (Don't even ask about Anglo Irish Bank.)
  • Bank of Ireland =/= Central Bank of Ireland


Wed, 09/28/2011 - 02:06 | 1717529 philipat
philipat's picture

I noticed that CNBC Europe hasn't been trotting out the CEO's of the Irish Banks to share the secrets of their success recently?

Wed, 09/28/2011 - 05:17 | 1717683 TheFourthStooge-ing
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Irish Banks, your cut-out-and-keep guide:

  • AIB = Allied Irish Bank(s). AIB =/= Anglo Irish Bank. (Don't even ask about Anglo Irish Bank.)
  • Bank of Ireland =/= Central Bank of Ireland

BS = Bear Shillelagh

LB = Leprechaun Brothers


Wed, 09/28/2011 - 02:04 | 1717526 philipat
philipat's picture

Ireland is screwed for several generations whereas Iceland is on the mend. But the Banks were saved. Halleluyah.

Wed, 09/28/2011 - 02:14 | 1717534 doomz78
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Im hoping that the fed swoops in to "secure" the european problem. Build a secure fort made of Bernake bucks around greece to prevent contagion. They can perhaps do this by funding this project through the IMF on the already crumpling backs of the US population. I can see this going really well for them. When you bail people out once they're gonna want to be bailed out again. Kind of like feeding the racoons or mice.  This relationship between the global banks and the federal reserve has to be maintained periodically with liquid injections of Bernanke bucks. The USA will save the world with dreams made of paper money and a straight face.  Call it QE3 or Euro QE Royale or whatever.....   The structure has collpased. I don't blame any one person for this mess.  But a collective group of politicians, the federal reserve, the banksters and the elite that have robbed the people of Europe the USA and the rest of the world.  Sneaky way to rob the masses. Sovereign Debt through banks. 

Wed, 09/28/2011 - 02:55 | 1717578 jmc8888
jmc8888's picture

I guess you can call that, searching for 'worst practices'.


Wed, 09/28/2011 - 04:57 | 1717663 mrkolice
mrkolice's picture

please recall the following news from jan 2011:

ECB Allows Ireland To Counterfeit 51 Billion Euros

Mike "Mish" Shedlock, Jan. 18, 2011


i you ask me the greeks just want some advice on how to print as irish did

Wed, 09/28/2011 - 04:55 | 1717669 oldman
oldman's picture

I find it most interesting at how tptb can so complicate economic policy because of 'ideological' positions. Dressing a naked king in nothing in the hope that no one will notice he is still without clothes is becoming very expensive. Why not just but him a robe and cut out all of the nonsense?

Because it does'nt pay, you say? Well, it doesn't cost either---------except for the markets no one really cares-----maybe everyone is right. On the Basque coast of Spain it is warm, sunny, and no one knows a thing about any of this.

Apparently, life will go on                    om



Wed, 09/28/2011 - 05:05 | 1717677 Blank Reg
Blank Reg's picture

Now, let's see if Greece, Ireland and lets say..... PORTUGAL  start plotting, oops, talking amongst themselves. Could be scary.

Wed, 09/28/2011 - 11:52 | 1718589 Random_Robert
Random_Robert's picture

The Greeks missed it by one letter....

They would have been better off talking to Iceland, not Ireland.

But come to think of it, I've never met a prudent Greek.

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