Comments on: The Greece game turns chaotic http://blogs.reuters.com/felix-salmon/2012/02/17/the-greece-game-turns-chaotic/ A slice of lime in the soda Sun, 26 Oct 2014 19:05:02 +0000 hourly 1 http://wordpress.org/?v=4.2.5 By: cnhedge http://blogs.reuters.com/felix-salmon/2012/02/17/the-greece-game-turns-chaotic/comment-page-1/#comment-36190 Tue, 21 Feb 2012 07:17:35 +0000 http://blogs.reuters.com/felix-salmon/?p=12225#comment-36190 PSI and OSI with ecb participation is a must, there’s not enough money saved on the cut.

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By: Wainwright http://blogs.reuters.com/felix-salmon/2012/02/17/the-greece-game-turns-chaotic/comment-page-1/#comment-36155 Sat, 18 Feb 2012 15:06:49 +0000 http://blogs.reuters.com/felix-salmon/?p=12225#comment-36155 Can we stop using the term ‘haircut’ in these cases? The first time I heard the term used in financial matters it meant ‘a little off the top’, taking a profit but leaving the basic investment more or less unchanged. What we’re talking about here is not a haircut but an amputation, and it would help if our language made that clearer.

Given that analogy, I suppose Felix is trying to prevent them using an anaesthetic!

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By: Fish88 http://blogs.reuters.com/felix-salmon/2012/02/17/the-greece-game-turns-chaotic/comment-page-1/#comment-36149 Sat, 18 Feb 2012 06:35:39 +0000 http://blogs.reuters.com/felix-salmon/?p=12225#comment-36149 Hey, do the Asian Central Banks and Sovereign Funds get the same deal? I bet not…they probably own billions, right?

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By: TFF http://blogs.reuters.com/felix-salmon/2012/02/17/the-greece-game-turns-chaotic/comment-page-1/#comment-36148 Sat, 18 Feb 2012 05:09:48 +0000 http://blogs.reuters.com/felix-salmon/?p=12225#comment-36148 DanAllen, some institutions hold bonds for longer than 2.5 years… Those whose bonds matured over the past year were repaid with bailout money. They made out nicely. Those whose bonds did not mature are being asked to take a double share of the haircut.

Yeah, they probably should have sold the bonds at a loss when the troubles became apparent. I don’t feel particularly sorry for money managers of any stripe. Of course the money managers only share in the gains, not in the losses, so the money managers will be fine. Only their clients (e.g. pension funds) will be hurt.

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By: DanAllen http://blogs.reuters.com/felix-salmon/2012/02/17/the-greece-game-turns-chaotic/comment-page-1/#comment-36143 Sat, 18 Feb 2012 02:40:11 +0000 http://blogs.reuters.com/felix-salmon/?p=12225#comment-36143 Since we’ve known of Greece’s troubles for 2 1/2 years now, you’re telling me I’m supposed to be sympathetic for managers chasing insanely high returns in the last 2 years? They very well knew this was a risk because sovereigns can no longer backstop their banks. They’ve already stuffed as much private debt as they possibly could on the public. From here on in, anything goes. I thought everyone was aware of this.

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By: TFF http://blogs.reuters.com/felix-salmon/2012/02/17/the-greece-game-turns-chaotic/comment-page-1/#comment-36140 Sat, 18 Feb 2012 01:39:17 +0000 http://blogs.reuters.com/felix-salmon/?p=12225#comment-36140 DanAllen, the investors who benefited from the earlier bailout are not necessarily the ones who are holding the debt now. Different bonds, different maturities.

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By: Diablo3Guide http://blogs.reuters.com/felix-salmon/2012/02/17/the-greece-game-turns-chaotic/comment-page-1/#comment-36136 Fri, 17 Feb 2012 21:52:45 +0000 http://blogs.reuters.com/felix-salmon/?p=12225#comment-36136 While we’re at it, why don’t you check out our professional’s overview of the economic situation over at
http://diablo3guideinferno.com

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By: Diablo3Guide http://blogs.reuters.com/felix-salmon/2012/02/17/the-greece-game-turns-chaotic/comment-page-1/#comment-36135 Fri, 17 Feb 2012 21:52:03 +0000 http://blogs.reuters.com/felix-salmon/?p=12225#comment-36135 While we’re at it, why don’t you check out our professional’s overview of the economic situation over at
diablo3guideinferno@gmail.com

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By: DanAllen http://blogs.reuters.com/felix-salmon/2012/02/17/the-greece-game-turns-chaotic/comment-page-1/#comment-36133 Fri, 17 Feb 2012 21:04:01 +0000 http://blogs.reuters.com/felix-salmon/?p=12225#comment-36133 How can investors complain? They loaned to Greece, and the ECB and troika shored them up with a bailout. Look at the BIS quarterly reports on Greek debt. It’s been reduced because of the bailout. So, now the investors want everyone playing by the old rules? The old rules said you should have eaten your default instantaneously.

Come on!!!!

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By: TFF http://blogs.reuters.com/felix-salmon/2012/02/17/the-greece-game-turns-chaotic/comment-page-1/#comment-36125 Fri, 17 Feb 2012 16:19:37 +0000 http://blogs.reuters.com/felix-salmon/?p=12225#comment-36125 Completely off topic, but on a theme that Felix has touched often:
http://blogs.wsj.com/developments/2012/0 2/15/lowest-income-renters-left-behind-i n-housing-crisis/

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