Maybe I watch the wrong financial TV channels on my 3 big TV setup, but I've seen quite a few so-called experts say that Greece can never repay the huge amount of money they owe because of the small population and weak economic structure. But hey, they might all be wrong. The US government didn't think it could justify bailing out Lehman Brothers. A trillion dollars loaned, and 14 trillion 'guaranteed' later, they might reconsider that decision, if given the chance again. And the US is a single country with a central bank & Treasury that can act quickly, if needed. (One Friday, around noon, in 2008, Secretary of the US Treasury, Hank Paulson, called the heads of the biggest US banks, and instructed them to be at a meeting at 5 P.M. at the headquarters of the New York Federal Reserve Bank. He told them that the government was going to make a big injection of cash into their banks in exchange for preferred stock. One bank CEO refused, saying his bank didn't need the money. Paulson told him that if he didn't sign the short document before the meeting ended, his bank would be publicly declared "capital deficient" by the Federal Reserve Bank, at the open of business on Monday morning. He signed, as did all the other bank heads.) Can the EU act that fast? Things really go south, and they might not have a lot of time to debate. That is how fast an overleveraged financial system can collapse. I'm just happy we grow a lot more staple food items than we can possible eat over here in the US. Strawberries, and bananas I can live without. Bread and meat, not so much. ( I lied. They grow strawberries a few miles from me in Slidell. Possible with the aid of illegals. Covering the plants if it freezes is a labor intensive process. And recent winters in the eastern half of the US have been brutal. I noticed the first frost on my neighbor's roof on 2 November, 2014. At least the roads didn't get iced over last winter. Hopefully, the global warming winters will reach south Louisiana soon.)
Access Investments-Building Awareness - European Union-ROMANIA
Friday, April 17, 2015
Maybe I watch the wrong financial TV channels on my 3 big TV setup, but I've seen quite a few so-called experts say that Greece can never repay the huge amount of money they owe because of the small population and weak economic structure. But hey, they might all be wrong. The US government didn't think it could justify bailing out Lehman Brothers. A trillion dollars loaned, and 14 trillion 'guaranteed' later, they might reconsider that decision, if given the chance again. And the US is a single country with a central bank & Treasury that can act quickly, if needed. (One Friday, around noon, in 2008, Secretary of the US Treasury, Hank Paulson, called the heads of the biggest US banks, and instructed them to be at a meeting at 5 P.M. at the headquarters of the New York Federal Reserve Bank. He told them that the government was going to make a big injection of cash into their banks in exchange for preferred stock. One bank CEO refused, saying his bank didn't need the money. Paulson told him that if he didn't sign the short document before the meeting ended, his bank would be publicly declared "capital deficient" by the Federal Reserve Bank, at the open of business on Monday morning. He signed, as did all the other bank heads.) Can the EU act that fast? Things really go south, and they might not have a lot of time to debate. That is how fast an overleveraged financial system can collapse. I'm just happy we grow a lot more staple food items than we can possible eat over here in the US. Strawberries, and bananas I can live without. Bread and meat, not so much. ( I lied. They grow strawberries a few miles from me in Slidell. Possible with the aid of illegals. Covering the plants if it freezes is a labor intensive process. And recent winters in the eastern half of the US have been brutal. I noticed the first frost on my neighbor's roof on 2 November, 2014. At least the roads didn't get iced over last winter. Hopefully, the global warming winters will reach south Louisiana soon.)
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