Greek Leader Considers Action Against US Banks

[cal04]

Source: Associated Press

Greek Prime Minister George Papandreou is not ruling out taking legal action against U.S. investment banks for their role in creating the spiraling Greek debt crisis.

Papandreou told CNN on Sunday that ''I wouldn't rule out'' going after the U.S. banks.

The government, as well as many Greeks, have blamed international banks for fanning the flames of the debt crisis with comments about Greece's likely default.

The Greek leader also says a parliamentary investigation will soon examine the rapid swelling of Greece's debt and the country's banking practices.

Read more: http://www.nytimes.com/aponline/2010/05/16/business/AP-EU-Greece-Financial-Crisis.html?_r=1

[dipsydoodle]

1. Good.

:thumbsup:

[HysteryDiagnosis]

2. Why rob a bank when you can own one? n/t

[DesertDiamond]

3. Go Papandreou! Kick their butts!!!

[HereSince1628]

4. I can invision this...overnight a statue of a mighty horse appears on Wall St

It dwarfs the bronzed bear and bull.

Inside, a team of international lawyers, quietly wait...and wait...and wait...and finally dial out for Gyros.

[customerserviceguy]

7. HA!

That was indeed quite funny!

Seriously, though, this just looks like sabre-rattling for the masses. There would likely be a very tough, long road to travel to get to any kind of verdict against American banks. And if there is one, will the US government bail them out this time? Probably not.

[EFerrari]

8. Not this again.

[earcandle]

5. It is probably going to take international rage and courts to hold us accountable for the criminal

bets being placed on countries and states that they will fail.
 

I hope everyone of those derivative betters get jailed and
their money 
turned over to the people they damaged, whether it be states
or countries. 

Lets support this kind of sanity, cause we cannot do it here,
it seems.

[JDPriestly]

6. All that Greece has to do is to stand firm, unite and say

Hedge Funds -- Wall Street -- you are guilty of criminal fraud. Come to Greece and try to collect, and we will put you in jail.

Refuse us credit and we and a few other countries will trade amongst ourselves. Quite a number of nations would love being free of the IMF dominance.

They could, together control enough resources to keep each other going at living standards a little moreacceptable (not a whole lot) than the IMF is offering.

Competition is good. Why shouldn't the IMF face a little healthy competition?