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By James Rickards
Published: February 11 2010 19:48 | Last updated: February 11 2010 19:48
Wall Street loves a piñata party "“ singling out a company or country, making it the piñata, grabbing their sticks and banging it until it breaks. As in the child's game, the piñata is left in shreds. Unlike the child's game, in the Wall Street version the piñata is stuffed with money for the bankers to scoop up with both hands, instead of sweets. We see this game being played today, with Greece as the piñata.
Investors trying to understand why their portfolios have begun to melt down for the second time in five years are becoming experts in the fiscal policy of Greece. A look at the piñata party might make things clearer.
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