Tuesday, March 13, 2012

Bill Black: 2nd 'German Occupation' of Greece?

In order to secure a second bailout and remain solvent, Greece implemented the biggest debt write-down in history today. The bulk of its privately-held bonds have now been swapped with new ones worth less than half their original value. But fears that Greece will still be saddled with far too much debt remain. But is it time to start talking about alternatives, other ways out? William Black, author of “The Best Way to Rob a Bank Is to Own One” weighs in.