A sound system of credit is built on collateral. A doomed system of debt sits precariously on phantom collateral.
The global “recovery” is based not on reducing debt but on increasing it. Nice, but where’s the collateral? The basic idea of de…
Tag Archive for Sums
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If I ran Ireland…
by a Wall Street Examiner • • 0 Comments
I would say to the EU, “OK fellas, I’ll tell you what. We will pay you back in the form of a bounty. Throw a high level banking executive in jail, we will pay you for each year spent. Lower level executives, of course, would bring lesser sums. Now, if …
Bears Chat, Best of the Forums
Fed records show their biggest emergency borrower, in 12/2008, was none other than Goldman Sachs
by a Wall Street Examiner • • 0 Comments
link
Excerpt:
By the middle of the next month, the biggest user was Goldman, the Wall Street titan that got $5 billion in assistance from Warren Buffett at the height of the crisis in September and was a big beneficiary of the AIG (AIG) bailout that …
Bears Chat, Best of the Forums
Obama’s New Chief Economic Adviser Gene Sperling
by a Wall Street Examiner • • 0 Comments
Big business likes Sperling, who was an economic adviser in the Clinton White House….and, of course, there’s the obligatory Goldman Sachs connection….
Not lost on Wall Street is the fact that Sperling has worked there: He served as a consultant t…
