Tuesday, May 11, 2010

Economist Tim Madden: The PIIGS Brief: understanding how oligarchs rig, loot our economies

Portugal, Iceland, Ireland, Greece and Spain can sue Canada for damages from global financial crisis
The PIIGS nations, scandalously so-called, of the European Union (EU) appear to have a genuine cause of action and means of remedy against the Canadian state and its commercial court system, secured in part by the aggregate bonds/liability-insurance of members of the various provincial and federal bar associations and law societies in Canada, as well as those of the courts themselves. Provable damages globally appear to be in the range of several trillions of dollars.
The underlying issue is malfeasance of office, gross negligence, reckless disregard and endangerment, and the proximate cause of the global financial crisis, with respect to damages experienced and yet to be experienced by the people and institutions of the PIIGS nations. (more)

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