Greece steps up pressure on investors to take bond deal

March 7, 2012 by · Leave a Comment
Filed under: Global News 

Looks like Greece and cocked the hammer.  They are putting the feet of private investors in Greece to the proverbial fire.   Basically they are telling this group of investors to “take the deal” or we will pull the trigger and default.  This would create contagion and they know it.  The investors most likely will take the deal because they already are bailed out in the fact they made loans to a country that could not afford to service them along with having very rich social service programs that would take a very productive economy to support.

There is no easy answer to this problem in Greece and this is not a new problem with them having a large amount of social entitlement programs.   I am hopeful their transition will be successful in the end and hopefully it will give a new perspective on the next generation about what they should expect from their government and what they should expect from themselves and the associated communities.

CBS – Greece stepped up the pressure on its private creditors Tuesday to sign on to a crucial bond swap without which the country will default on its debts this month, but which some investors fear may prove unsuccessful.
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Pennsylvania capital gets state aid to avert bond default

September 13, 2010 by · Leave a Comment
Filed under: Credit News 

We have an interesting fight on our hands in Harrisburg.  The current Governor Ed Rendell is putting pressure on the city and its council to make some drastic changes to avoid default and possible bankruptcy.  It looks like PA has a act on its books called “Act 47” where the state can appoint and administrator and take control of local decision making to avoid financial turmoil.

The City Council feels that the Governor is using this to put pressure on them to sell city assets and raise taxes for covering their current shortfall.   The argument is that the council thinks they are making the best decision for the city and the state should not interfere with that.  The state has a strong argument as well being that if they default, that might bleed over and effect the state’s credit rating.  My bet is that the state will when out and Harrisburg will crave in to the austerity demands.

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Trump Entertainment to miss bond interest payment

November 30, 2008 by · Leave a Comment
Filed under: Stock Market News 

No one in immune in this market, not even the Donald & Co.  Knowing our government, we will see us bailing out the casinos.  Wouldn’t that be some irony?  My only question is who will be bailed out this week and how much will it cost?  

Last I heard, this bailout has added $24,000 per citizen in public debt.  Why are we taking on this size of debt to bail out companies but nothing to directly help the actually people being affected or financing this burden?  This does not seem very democratic to me.

News:

Casino operator Trump Entertainment Resorts Inc said on Friday it will not make a $53.1 million bond interest payment due on December 1 in an effort to “maintain sufficient liquidity.”

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