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kleinbl00 · 603 days ago · link · · parent · post: Credit Suisse Bond-Wipeout Threatens $250 Billion Market
It's not like this is a new thing. There are two differences between then and now: 1) Greek debt was not designed, regulated, advertised and presumed to be the thing most likely to evaporate in the event of systemic governmental crises 2) Bondholders had not gotten in the habit of presuming anything that might affect more than one bank would be made whole by the government(s) at taxpayer expense $13,500 for every man, woman and child in Switzerland. I agree with your larger point - this is bullshit. I'm just so jaded that I can't even be outraged anymore.