In reviewing bailout history, the fairly obvious conclusion should be that Obama will be forced into a debt for equity swap by the major global holders of US Treasuries, as was done in Chile in the 1980s and Mexico in the 1990s.(1) If history is repeated, one can safely assume the same investors who hid their funds offshore to avoid taxation will now buy out those assets whose liabilities have been absorbed by the taxpayer, and also get them for dimes on the dollar. One can also safely bet that Goldman-Sachs will manage the transactions for a hefty profit.
Just in case any one was asking....
Notes
1.see The Blood Bankers, James S. Henry, 2003. Chapet 7: Banking on Dictatorship
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment