Wheels Fall Off Greek Bond Swap

As the take up the foreign law bond swap in Greece has been less than expected (people who didn't have their heads in the sand never expected the take up to be high), Greece is now expected to push back the foreign law bond swap deadline from today's March 23 deadline.

"Ironically" Greece's listed banks have asked for an extension of 30 days to their March 31 deadline for reporting their 2011 results to assess losses resulting from the recently completed bond swap.

If at first you don't succeed, change the rules!