Why Did Bankers Extend Loans To Greece?

You’ve heard about all the austerity getting carried out in Greece? Well, not one public servant has been laid off in Greece.

It’s austerity for the private sector, but not for the government unions.

Sounds like California.

So far it sounds like this French and German bailout for Greece is really a bailout for French and German banks who were stupid enough to lend money to Greece.

Greece is only two percent of Europe’s economy so why does it matter if Greece defaults on its loans?

On his radio show today, Dennis Prager said: “Greece is not facing up to the origins of its problems.”

“I have some sympathy for the left in its antipathy to bankers. You know why bankers made bets on Greece? I don’t know on what basis.”

“There is no industry that I am aware of in which there is so little justice. There is no repercussion for what you do.”

“I’ve been broadcasting for 28 years. Every few years, I deliver the same sermon. Why are bankers not responsible people? Remember the loans they gave Latin America and how much crashed there?

“Why? Because it is very sexy to give loans. I don’t they asked if it is a wise move to lend Greece a lot of money.”

About Luke Ford

Raised a Seventh-Day Adventist at Avondale College in Australia, Luke Ford moved to California in 1977. He graduated from Placer High School in 1984, reported the news at KAHI/KHYL radio for three years, attended Sierra College and UCLA, was largely bedridden by Chronic Fatigue Syndrome for six years, and converted to Judaism in 1993. From 1997-2007, Luke made his living from blogging. Living by Beverly Hills (Alexander90210.com), he now teaches the Alexander Technique (moving the way the body likes to move). Lessons cost $100 each and last about 45 minutes. In 2011, Luke completed a three-year teaching course at the Alexander Training Institute of Los Angeles. His personal Alexander Technique website is Alexander90210.com. Luke is the author of five books, including: » The Producers: Profiles in Frustration » Yesterday’s News Tomorrow: Inside American Jewish Journalism
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