Greece blames speculators on it’s own bad behavior and horrible choices. Say the whole world is corrupt and they sold products without giving adequate disclosures about the risks, Greece had the ability to say “no,” but apparently they didn’t.
Like the Alt-A borrowers, I believe that some were taken advantage of, but even someone with basic math skills would know that they couldn’t pay back the loans despite early term teaser rates.
It’s always easier to blame someone else, or the market for your losses. You put the trade on, you own it.
It’s kinda funny watching politicians accuse Wall St. of double-talk.
What could be funnier? Gene Simmons of KISS selling life insurance.