Greece Gun: FAIL

I guess the markets weren’t intimidated by Greece’s loaded gun
From Bloomberg:
“Greece called for activation of a financial lifeline of as much as 45 billion euros ($60 billion) in an unprecedented test of the euro’s stability and European political cohesion.”
If you recall, as I wrote about 11 days ago, Greece attempted to used the “bazooka” defense to lower their borrowing costs, hoping that the THREAT of a bailout would be enough to placate their lenders into accepting lower yields.  Just like Hank Paulson’s 2008 bazooka attempt with FNM and FRE, this one failed miserably.
EDIT: RELATED:  from the Reformed Broker on stocktwits, via Howard Lindzon:

“Dear China, can you please just buy Greece already so we can move on?  Thanks, Rest Of World”

-KD

Kid Dynamite is a participant in the Amazon Services LLC Associates Program, an affiliate advertising program designed to provide a means for sites to earn advertising fees by advertising and linking to Amazon.com. If you click on my Amazon.com links and buy anything, even something other than the product advertised, I earn a small commission, yet you don't pay any extra. Thank you for your support.

The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.

blog comments powered by Disqus
Kiddynamitesworld Blog