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.
read more | digg story
Subscribe to:
Post Comments (Atom)
3-30-2026
Why tech CEOs suddenly love blaming AI for mass layoffs Trump reportedly warns to 'take the oil in Iran' as Tehran targets water, ...
-
They're saying F-U to Congress, essentially read more | digg story
-
“In the Shitter”: Democratic Rep. Reads Out Entire List of Trump Crimes - Representative Jasmine Crockett used Republicans’ Biden impeachm... -
A lot of criticism was given to the Bush Administration for proposing a 3-page bill to address the financial markets. While I had some criti...
No comments:
Post a Comment