Monday, June 20, 2011

How to rip off the government

RBS Drops on Greek Default Concern, Employee Share Sales

1) Wait until the dopey government pumps in enough money to become a majority shareholder. 2) Fund your own bonuses by freely selling newly issued shares, translating a government share holding loss into your dramatic well deserved bonus.

Posted by stillthinking @ 08:20 PM (1259 views)
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One thought on “How to rip off the government

  • It won’t be a default. The Greeks will do an audit of government debt and find that a lot of it stinks of corruption and collusion between the Greek government and foreign bankers, arms sellers and the rest. Then they’ll say “This debt is legit and we’ll pay it, these debts are illegit and not only will we not pay them we’ll take the signatories to court”. “Oh, and the debts we will pay we’ll pay if and when we can afford them after we’ve funded education, health, infrastructure etc. and made sure the economy has a viable future.”

    When the US effects “regime change” to get rid of “the bad guy” have you noticed that they repudiate the bad guy’s (sovereign) debts (“which he used to fund palaces and arms to use against his own people”). These debts are owed to western banks, infrastructure providers, arms suppliers etc. Yet the financial universe doesn’t implode after the “repudiation” (I don’t think they call it a default”).

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