Perdido 03

Perdido 03

Tuesday, November 30, 2010


The banksters have already gotten bailouts in the United States, Greece and Ireland. It must be Christmas season, because there are more bailouts to come:

LONDON (MarketWatch) — The euro zone’s sovereign-debt crisis intensified Tuesday, with yields on Spanish, Italian and other peripheral government bonds soaring in the wake of a weekend meeting of European Union finance ministers that failed to soothe fears of the potential for future defaults.

The yield on 10-year Spanish government bonds jumped to around 5.63%, strategists said, a day after surging to 5.43%.

The move sent the yield premium demanded by investors to hold 10-year Spanish debt over comparable German bunds to more than three full percentage points.

Bond yields move in the opposite direction of bond prices.

“Ireland’s bailout did nothing to ease the euro-zone debt crisis: it might have even made it worse,” said Steven Barrow, currency and fixed-income strategist at Standard Bank. “For now the market sees a pattern emerging and the next piece of the bailout puzzle seems to be Portugal, with Spain to follow after that.”

How exciting! More free money for banskters, more pain for the populace.

Until we take the banskters and the hedge fund criminals and the others who continue to steal the money and pass along the pain into jail, this stuff will not stop.

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