Greece has been buying Credit Default Swaps or CDS to “insure” its national debt. The cost for Greece to purchase the “insurance” or CDS is skyrocketing ……..London investment bankers name AIG as a further CDS-seller ….Meanwhile the Greeks Socialists and Anarchists are rioting in the streets over proposed and desperately needed budget cuts and the US is agreeing to bailout Greek workers while US workers run out of unemployment benefits.
Filed under: Bailout, Banking Crisis, Economic Crisis, Financial Crisis, Greece, Greece Financial Crisis, Politics | Tagged: AIG, American International Group, CDS, Credit Default Swaps, Greece Bailout, US Taxpayers at risk? | 2 Comments »
