[StBernard] Bretton Woods II -- No Way
Westley at da-parish.com
Sat Nov 15 08:39:01 EST 2008
Pat wrote: Even in America's financial crisis, no one can dictate to the
Except Pat, for the people who buy are paper (T-notes) as we finance our
deficits and national debt. What will we do when they stop appearing at the
Treasury Auctions or demand higher interest rates for those notes?
Pat wrote: An International Monetary Fund was established to
lend to nations with balance of payments problems.
Will it be us who will be seeking IMF loans to handle balance
of payment issues?
" the all-powerful market that is always right, that's finished,
Don't know if it's finished or not but at least in the U.S. if you are a
bank or investment company and you, yourself screwed up, Uncle Sam will come
to bail you out. And instead of giving you money to so those old bad
mortgages could be bought up to help your balance sheet, it's okay if you
take that taxpayer money to go out and buy **other** banks! Also, if you're
a credit card company (American Express) just rename yourself a bank and you
too can get in line to suck off of the money from American taxpayers!
The all-powerful market may or may not be dead but they sure haven't been
held accountable for all of their own screwups.
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