Business & Technology | Understanding Greece's bond swap deal | Seattle Times Newspaper

That's what I'm thinking. You remind me of that old song (that I didn't particularly like), "I can see clearly now..." :)

The success of the deal relies on the vast majority of private creditors agreeing voluntarily. If the deal is imposed against their will, it could trigger the payment of credit default swaps (CDS), essentially insurance against a default.

I'm betting they [the Hedgefunds, derivatives markets] are hoping for a 'forced' deal to ensure the insurance payment. We will always be the 'fall guy' for the world, most likely.

i don't know. I've read reports that they were sent down the same road we've been on...putting too much money into programs and retirement benefits/programs...that they didn't have. Yet, the CDOs and swaps continue, despite these nation failures. It sure looks to me, that the players want default to happen to continue selling off the debt.. paying off that one, then on to the next failure... rinse, repeat. Similar to the the 'frs'.. slice and dice, sell the debt, make deposits around the world, and expand it.. ..Or, maybe not. :)

However it should be described... I think it's too risky setting up the world for the same outcome that we saw here, and how much of the burden will the US bear, is the biggest question in my mind.

Oh well. Snowed-in here, close to two feet now; but... it's sooooo pretty!

Think I'll go watch a pay-per-view movie. Not sure which one, but it sounds relaxing.

Thanks for all of the discussions, BD! Nite!!