AUTOREFRESH 
EU’s Rehn: Greece not out of the woods completely
By Jamie Coleman || March 16, 2010 at 14:58 GMT
|| 3 comments || Add comment
EU economics czar provides the marklet with this newsflash: Greece ain’t out of the woods yet. Thanks for that, Olli.
Also on the wires with a bit of wisdom is US Treasury Secretary Geithner, who says there is a good economic case to be made for putting more “investment” into infrastructure now. (Wouldn’t the $800 bln stimulus package have been a good place to put infrastructure “investment”?).
Geithner says there is “no way” the US will loose the AAA rating.
What really puzzles me was Geithner coming in to bat on behalf of the hedge fund speculators, when EU makes a reasonable call for more regulatory oversight last week.
Not that being ex-Goldman had anything to do with it of course…
Speculators aren’t the problem with Greece and the EU anymore than Jews were the problem with Germany’s inflation in the 1930s. They are scapegoats, period. A case can be made that the CDS market needs to be more transparent, and that the people who sell CDS’ should be vetted to make sure that they can cover their positions. But calling out investors/speculators is barking up the wrong tree. Greece has been corrupt and badly mismanaged for decades. Going back to Papandreou’s old man, and beyond. Blame the Papandreous for Greece! Speculatos???? Give me a break. That’s just a dodgy entitled corrupt aristocratic ruling class looking to blame someone else for their misdeeds.