News for hackers. Stuff that matters.

A comment on China Can’t Sustain Its Debt-Fueled Binge, Moody’s Says. Parent comment

Re:China Can’t Sustain Its Debt-Fueled Binge, Moody’s Says by timthelion on Thursday May 25, 2017 @03:39AM (#14415894)
It is not true that the Greek crisis happened in plain sight. The government actually cooked the books in order to comply with European lending regulations: https://en.wikipedia.org/wiki/Greek_government-debt_crisis#D...
[ Parent | on HN ]
Re:China Can’t Sustain Its Debt-Fueled Binge, Moody’s Says by woodandsteel on Thursday May 25, 2017 @08:57PM (#14421353)
I don't buy that excuse. Everyone knew the Greeks are very corrupt, and one feature of corrupt governments everywhere is they fake their economic numbers. So the lenders really should have looked deeper. They didn't because they knew the EU would bail them out.
[ Parent | on HN ]
Re:China Can’t Sustain Its Debt-Fueled Binge, Moody’s Says by timthelion on Tuesday May 30, 2017 @05:58PM (#14448884)
Some of the lenders actually helped them cook the books [1] . And I wasn't excusing the lenders, I was excusing the citizens. How are the citizens supposed to make informed decisions when they are getting fabricated numbers?

[1] https://www.thenation.com/article/goldmans-greek-gambit/

[ Parent | on HN ]