glenn1
Lifer
- Sep 6, 2000
- 25,383
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It's never been pointed out why this is a nonsensical argument, but I do agree that feeble attempts at justification have been made. But as always, the defining factor is whether or not it's your money. Someone else's money, it's simple - they should forgive the current loans and then make new loans. Your money, it's complicated so you'd best stay away. Not of course because you value your own money more than someone else's money, just because it's complicated.
It's scary to think you could be so stupid as to think anyone else is stupid enough to buy that, so I'll just assume that you say it because ideologically you can say nothing else.
The people that support further bailouts for the Greeks know it's a terrible business or investment idea and that the money won't get paid back. That's why they wouldn't put their own money into it.
Rather they support bailouts as a political idea, one more means to fight inequality and their other boogeymen. They don't care that some creditor is getting fucked over so that no one has to suffer from mean ol' Austerity and they figure the Germans are as good as anyone to get fucked. You're nothing but a source of funds to them, a patsy whose own interests are to be completely discounted in favor of those who wasted their own money and are thus "in need."