Why do the markets hate democracy?

[marmar]

Seems like the Banksters are afraid that the citizens of Greece are going to get all Icelandic on them. :think:



(Bloomberg) U.S. stocks slumped, following the biggest decline in almost a month for the Standard & Poor’s 500 Index, on concern that a Greece referendum pledged by Prime Minister George Papandreou may threaten Europe’s bailout.

All 10 groups in the S&P 500 fell as financial and commodity shares had the biggest declines. Morgan Stanley and Citigroup Inc. (C) retreated more than 7.2 percent as a gauge of European lenders tumbled 6.7 percent. Alcoa Inc. (AA), Boeing Co. (BA) and Cisco Systems Inc. (CSCO) decreased at least 3.4 percent, pacing losses among companies most-dependent on economic growth. Baker Hughes Inc. (BHI) sank 8.6 percent as earnings missed analysts’ estimates.

....(snip)....

“I just don’t get it,” Michael Mullaney, who helps manage $9.5 billion at Fiduciary Trust in Boston, said in a telephone interview. “A Greek referendum is a very risky proposition. Everybody thought last week that this crisis was behind us on a near-term basis, but Europe is going to be front and center.”

....(snip)....

“The bailout and austerity measures are hugely unpopular among the Greek people,” Andrew Ross, a partner and global equity trader at First New York Securities LLC, a New York-based proprietary trading firm that bets on stocks, commodities and derivatives, said in an e-mail. “In the event Greek people opt out of the bailout program, Greece will default and an extremely ugly precedent will set for Italy, Portugal and Spain.” ............(more)

The complete piece is at: http://www.bloomberg.com/news/2011-11-01/u-s-stock-index-futures-drop-on-china-manufacturing-data-europe-concern.html

[valerief]

1. Because they make out better with plutocracy. The most important thing in the world

is for rich people to become richer, after all. Nothing--NOTHING--else matters.