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Originally posted by mazzroth
Awesome post and the content in that video rings very true, I for the life of me can't figure out why our Prime Minister ( Kevin Rudd ) keeps being shown on our local TV in speeches demanding that the US congress pass this rescue package ASAP.
Its a bailout for Foreign Banks but why ? I think that it lies in the fact that the US banks packaged up all their bad loans ( sub prime ) into investments instruments and on sold them to the poor international stooge banks who had no clue they were being sold bad debt.
Which ever way the truth lies I hope all the banks in the world are made to share this bad debt load and not the workers or middle income earnins or tax payers as usual.