Jim Rogers On France Losing AAA: "The Only Solution For Europe Is Forcing Bank Bondholders To Take Losses"
Video - Jimmy Rogers on Greece, France, Europe - Jan. 16, 2012
A familiar refrain from Rogers, though that doesn't diminish the truth. Investors (bondholders) must be held accountable, apocalyptic fear-mongering be damned.
Comment from Cheyenne, writer and producer of Bailout (watch the trailer):
Great stuff from Jimmy. I'm sick of the notion that it's clueless debtors who should eat 100% of the shit sandwich served up in bad transactions. Worse, this propaganda is peddled by whores on a ludicrous platform of pilgrim's morality--those recklessly greedy borrowers, damn them! How asinine, as on the other hand these very same prigs teach us to look up to lenders, whose praise-worthy acumen is somehow never questioned in bad financial transactions. It's about freaking time that sophisticated lenders--who entered into deals with far more foresight than the borrowers ever did--are forced to dine on their own excrement. Their venality is disgusting, not honorable.
It's good to see reality, equity really, take root more and more.