Sovereign Debt Crisis: Investors Bet on Prospect of 'Greek Accident' - CNBC
This is called CDS, derivatives and many good name. I call them casino's and betting. This needs to controlled. No one has the right to tell and bet on others bankruptcy.
Why people should pay for those who are playing casino's. Let them play casino's. Please don't call it banking.
Keep the banking, only banking clean of all garbage.
Make investment banking, and all its instruments a separate system, and clearly mention their risk as casino's. Those who want to play, no one can stop them to play with their own money.
These people should not be allowed to play with retirees money, pension funds, university money and insurance money and governemnt money and tax payers money.
Let them play with their own money.
The best solution for Greece and Euro, is to default.
Let the banker take hit and haircut on their debt.
Tax payers should not be made to pay for luxury of bankers and banking.