The problems in Greece have exposed structural problems associated with Euro as a currency. Several parallels are drawn between Greece and Bear Sterns: Greece problems are to sovereign debt as Bear Sterns problems are to mortgage debt. I am watching this unfolding crisis with disgust over two things: a) Wall Street corruption that has a lot to do with all these structural imbalances; and b) utter incompetence of US law makers and regulators in curbing the Wall Street corrupt practices;
About the Author
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I am a professor by trade and 100% pure Gongura Gulute by birth. I believe in “survival of the fittest” mantra, but my philosophy is to “live and let live.” Therefore, I am at neither extremes of the political spectrum. I am an independent and I love it that way.
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