VIDEO - Banking Troglodytes Cowen & Lenihan Show Respect For Billionaire Bondholders

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Brian & Brian joint presser to announce the IMF, EU bailout.  Not a lot to this clip beyond further demonstration that banks and their bondholders control governments from Greece to Geithner's United States.

Anglo Irish Bank was a den of rampant and pernicious private development fraud that lined political coffers from here to Dublin.  It should have failed, and its executives jailed.  Instead, it survives by capturing the political class, and earning some alone time with the global bailout teat.

Next up, Portugal, Spain, then a solvency test for the Euro core.  When that's finally complete, attention will turn to U.S. insolvency.

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Further reading...

• Former SEC Chairman Arthur Levitt: Ban SIVs, Use Mark-To-Market Accounting, & Force Bank Bondholders To Take Losses

Comments

[DailyBail]

Every family in Britain will have to pay £300 to bail out the Irish

http://www.dailymail.co.uk/news/article-1331870/IRELAND-BAILOUT-Every-family-Britain-pay-300.html#ixzz167t2zocN

[DailyBail]

NEW YORK (MarketWatch) — U.S. stocks dove Tuesday as an exchange of fire between North Korea and South Korea rattled investors already headed for the exits over Irish debt concerns and an insider trading probe of the financial services industry.

http://www.marketwatch.com/story/us-stocks-fall-sharply-on-korean-tensions-2010-11-23

[DailyBail]

WASHINGTON (MarketWatch) — Sales of existing homes fell 2.2% in October, according to a report released Tuesday, with activity remaining mired near record lows as worries over prices, a glut of foreclosed properties, restrictive credit and high unemployment combine to weigh on the market.

http://www.marketwatch.com/story/existing-home-sales-slip-22-in-october-2010-11-23

[DailyBail]

An Alternative To Treasury Bailouts: One That Aggressively Hurts Bank Bondholders (Janet Tavakoli)

http://dailybail.com/home/an-alternative-to-treasury-bailouts-one-that-aggressively-hu.html