Karma kicks in. In this case, things aren’t paying off for the people who’ve made money betting on Greece’s failure.
Although frankly, odds are still in their favor at a later date. This situation, much like our own, is not fixed – merely postponed.
Every once in a while
Shall we analyze this for a moment? Let’s say that you hold Greek bonds worth $100,000 in Greek debt. Those bonds are paying you a rate of interest of 2%. Net income to you is $2,000. per year. They are government bonds that traditionally pay a small amount of interest after all. Before yesterdays great debt forgiveness deal the probability of Greece defaulting on its debt and you getting nothing for your bonds was very, very high. After this deal you will get $50,000 dollars worth of bonds that will pay you 5%, which will be guranteed by the taxpayers of the other EU countries. That’s $2500. in yearly income. Now which situation would you choose? Karma my ass. The wealthy NEVER get hurt.