This link has been bookmarked by 248 people . It was first bookmarked on 17 Mar 2009, by TOM PIRKO.
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We are in the middle of an economic perfect storm, and we donât know how much worse itâs going to get. People all over the world are hoarding cash, and no bank feels that it can fully trust anyone it is doing business with anywhere in the world. Did you notice that the government of Iceland just seized the countryâs second-largest bank and today is begging Russia for a $5 billion loan to stave off ânational bankruptcy.â What does that say? It tells you that financial globalization has gone so much farther and faster than regulatory institutions could govern it. Our crisis could bankrupt Iceland! Who knew?
And we have not yet even felt the full economic brunt here. I fear we may be at that moment just before the tsunami hits â when the birds take flight and the insects stop chirping because their acute senses can feel what is coming before humans can. At this moment, only good governance can save us. I am not sure that this crisis will end without every government in every major economy guaranteeing the creditworthiness of every financial institution it regulates. That may be the only way to get lending going again. Organizing something that big and complex will take some really smart governance and seasoned leadership.
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P. MILOGOD KEEP HIM ALIVE, IF MCCAIN IS EVER ELECTED...
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jtasker2In the middle class of America, which is where Todd and I have been all of our lives, that’s not patriotic.”
What an awful statement. Palin defended the government’s $700 billion rescue plan.
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