Greece has been in bad debt for a while but the crisis has severely deepened in the last few days and was threatening to drag entire Euro currency down with it. While whole Europe is watching the Greece Debt Crisis closely, the issue is not escaping the attention of media in North America either as stocks worldwide are being affected. I don’t understand why all these fine countries like Iceland, Greece or Japan are going bankrupt while drug wars and murder run shitholes like Mexico, Philippines or Brazil are still hanging in there.
The Greece Debt Crisis would have affected the rest of Europe as well, but just as it seemed imminent, the leaders of the European Union stepped in and pulled Greece out of the deepest crap. But Greece will have to keep up with their half of the bargain and they have a long and hard road ahead of themselves if they want to survive. The details of the deal between the European Union leaders and Greece have not been made public yet, but both parties allege that it will help overcome Greece’s debt crises – said president of EU Herman Van Rompuy and president of European Commission Jose Barroso. Greek president George Papandreou said he’s determined to do anything to battle the crisis till it’s under control. Meantimely, schools, airports and public offices around Greece are shut as the government is trying to make a deal with public workers in strike.
Sounds like it’s great time to go on vacation to Greece. Formerly one of more expensive tropical countries with pristine beaches and rich history will likely become more affordable as result of their debt crisis. When Iceland near collapsed and went bankrupt in 2008, their currency dropped in value significantly making one of the most expensive countries in the world more affordable for travelers. I took advantage of it and had a blast in this otherwise expensive country. If Greece keeps it up, I will be heading there soon to take advantage of their destroyed economy which will be a perfect solution that works for all parties involved – Greece needs foreign money, which I will be funding my stay there with and I need to visit Greece on the cheap and get a lot out of each of my bucks spent. Perfect situation each way. Though I do wish they get it sorted out quickly so the Greece debt crisis goes away.
Mamma.com is a search engine that’s simply not making it (an impossible game nowadays). Mark Cuban is a multi-billionaire that’s simply making it. Mark owns Dallas maverick NBA team, an HDTV cable network, HDNet and few other successful ventures that push his worth to nine digits. Today however, Mark Cuban was charged with insider trading by the Securities and Exchange Commission (SEC) in connection with sales of Mamma.com shares. This is how it went down:
Mark Cuban purchased the stock of Mamma.com – a search engine that appeared to have potential but this game is firmly dominated by Google, Yahoo and MSN. Everyone else is simply out of on-line search game. Mamma.com, despite what seemed as potential, didn’t make it anywhere. The traffic to Mamma.com dropped 66% within a span of last year which clearly showed that the website is a big loss. Mark Cuban first purchased Mamma.com stocks because he thought it was gonna be the next big thing and with low overhead it had, the purchase seemed solid. Now it appears as though Mark Cuban has used his insider information and got rid of Mamma.com stock just before it dropped avoiding approximately $250k in losses he’d have to incur had he not have the insider information.
This is what Securities and Exchange Commission (SEC) refers to as Insider trading and this is what Mark Cuban is charged with. Mark Cuban allegedly sold his 600,000 shares after he learned that Mamma.com was going to offer new stock for sale. This offer would dilute the value of shares he owned so he liquidated them, committing insider trading crime.
