Bloomberg reports that Greece is going to sue some US bankster. This is getting wacky, wacky, wacky. This would like a small-cap company suing a hedge fund for shorting it, even if the company has horrible fundamentals, has a crappy earnings margin and is bleeding to death.
Is this the recourse for Greece? This reminds me of the chick who maxes out 99 credit cards, gains 200 pounds from eating like a pig, and then blames the credit card companies for lending her (not so free) money, sues every restaurant for feeding her fat ass, and then returns all her new clothes to Macy's because she just can't fit them anymore.
On the other hand, this might give FAZ and other short-financial ETFs and ETNs some juice. Can we say it now? The triangle is now complete.
• Greece self-implodes
• US financials recovering from credit crisis
• After temporary reprieve (including US dollars via IMF), Greece declares legal war on US financials
All we need now is for a volcano to erupt in New York and somehow spew ash on Athens. That would seal the newly dynamic and dysfunctional relationship. What else could go wrong?
FAZ to open at 100 on Monday. Maybe. (I kid.) Greece may not get a single blue cent from US banks, but FAZ (and VXX) might get some perky action again.
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