5/17/2010 – Matthew Vadum –
In order to distract from the grave fiscal crisis caused by Greece’s cradle-to-grave socialism, Greek socialist prime minister George Papandreou is threatening to sue American banks.
Like his father before him who was also prime minister, Papandreou is the leader of the political party PASOK, which is the Panhellenic Socialist Movement. He is also president of the Socialist International. (The Socialist International’s affiliate in the U.S. is a group called Democratic Socialists of America, which in turn in closely tied to the Congressional Progressive Caucus).
“Greece will look into the past and see how things went,” Papandreou said. “There are similar investigations going on in other countries and in the United States. This is where I think, yes, the financial sector, I hear the words fraud and lack of transparency. So yes, yes, there is great responsibility here.”
So, not only is the United States involved in a futile scheme to bail out Greece’s basket case economy, but now that country’s leadership wants to shake down U.S. businesses for even more money. It’s as if the ruthless extortion artists at ACORN suddenly took over the government of the Hellenic Republic.
As I wrote previously, the U.S. is expected to kick in billions of dollars in order to prop up Greece’s failing welfare state via the International Monetary Fund.
It’s flushing money down a socialist toilet. And then the other fiscally doomed countries—including Spain, Portugal and Ireland—are going to whine and demand a bailout too. And knowing how much backbone President Obama has, we’re going to give it to them.
The Greek bailout will solve nothing. It will only delay the day of fiscal reckoning for the spendthrift Hellenic welfare state where hard work is for suckers.
Glenn Beck touched on the topic of excessive indebtedness on his TV show on May 5 (no video; link to transcript). He also noted that the rioters in the streets in Greece were left-wingers and union members, adding sarcastically:
In reality, we’re not going to let Europe go down. No, no, no. We can’t. They’re too big to fail. We’ll have to contribute more and more and more to prevent their demise. You’re already on the hook for this mess in Greece and Europe.
Well said Glenn.
HT: NewsReal Blog