Did Greece steal a march on fellow Europeans?

The current Greek crisis and the way it pulls down Europe makes me wonder if the Mediterranean country has successfully pulled the wool over more powerful European partners' eyes. Make no mistake, it is painful to see Greece battling the crisis.

Countries are like businesses, only a lot larger. That too is not true when you start comparing some smaller economies with larger corporations. When you see Palm losing out in the smartphone market to Apple, you feel a little sad for this one-time market leader. But you also quickly come to terms that if you do not create something that the market wants to buy from you, your days are counted.

The same fate befalls countries. Take Greece for example. When you think of Greece you think of a Greek vacation. Frolicking on the sun-kissed islands and some good Mediterranean food. Is this enough to run an economy in Europe? Nothing wrong in aspiring to be a good economy. It is just that mere wishing will not do. No family has made it big by using a credit card with a large balance. It needs to be supported by a fat salary as well.

It makes me think if the makers of the European Union thought about the side effects of getting into bed with a fat neighbor who doesn't like to work and thinks life is one unending vacation. Ask Angela Merkel! She is one person who badly needs a vacation. If there is one person who can actually sleep a little sounder among all the leaders, it is the German Chancellor. The German economy is doing well and they have really worked hard for it. But she is spending sleepless nights calculating interest rates for Greece and the political fallout the bailout might bring. The Greeks by making their European neighbors work extra hard for them have certainly stole a march over them.

You need to give it to the Greeks on this one.

Did Goldman Sachs abet 'Insider Trading'?

Let me first define 'insider trading'.

Wikipedia defines it as "trading of a corporation's stock or other securities by individuals with potential access to non-public information about the company".

What Paulson did was create an instrument that he was planning to bet against later. Paulson used this information to short the instrument and made a billion out of it. The fact that this information - that the instrument was designed to fail - was not made available to the buyer makes it potential insider trading. The fact that Goldman Sachs abetted this action makes it party to insider trading.

-Techdoctor

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