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Chancy coalescence


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From the "No Sh*t, Sherlock" Department:

 

Bulletin» ISDA says Greece has experienced a 'credit event'

 

:unsure:

 

Don't tell me what.

Tell me when.

 

Was this back in Fall 2011?

 

:rolleyes:

 

 

First overdraft fee from JPM, perhaps. "Wait, I thought you were supposed to pay US when we ran out of money..."

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What if Greece has been quietly buying up second hand CDSs for pennies on the dollar on their own debt. Run it through an obscure goobermint firm to cover their tracks. Get paid.

Pay the piper off at 3-10 cents to dollar owed.

 

It would put a heck of a bid under a new drachma.

 

Forgive me, I must have smoked something. :P :lol: :D

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