448. New Greecy Bond Certificates look good

According to this article, Greece may have escaped for another few months by swapping bonds for new longer term bonds at the expense of investors. tomorrow the official word will come, but this article claims more than 75% of the investors have already signed up. I fortunately am not involved, but I was in the CIT Group deal, where after 2 years with new bonds and common stock offered, I got away with gains. Unfortunately, Greek bonds do NOT have a common stock to bank on for gains. It was the common stock that helped me tremendously. Some times you win, some times you lose. Cut your losses before they become larger losses. It seems that the Greek investors realized that too.