Even if Paulson can come up with $700 billion from Congress, many of the banks are going to fail anyway. They borrowed money short term to buy long-term assets (mortgage backed securities and collateralized debt obligations). Now, the money must be paid back but no one wants to lend short term. Why? The assets are falling in value.
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In this Blog I will discuss Life the Universe and Everything, and maybe even Prairie Home Companion.
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4-24-2024
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FLASHBACK: Kremlin to Pitch New Currency... BEIJING TO PITCH NEW GLOBAL CURRENCY; DUMP DOLLAR OBAMA TO THE RESCUE! PLAYS HIS $1 ...
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"Multiple indications of vote fraud are beginning to pop up regarding the New Hampshire primary elections. Roughly 80% of New Hampshire...
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They're saying F-U to Congress, essentially read more | digg story
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