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Whatever else can be said of it, this freak show cannot go on forever. The US has $2 trillion worth of short-term bills that must be refinanced in the next 12 months. It must also refinance about $1 trillion more of notes and bonds. That’s without adding any additional debt! So put a deficit of $1.5 trillion on top of that and you have $4.5 trillion of financing for the US alone.
In what has got to be the one of the most ridiculous articles of the year, Bloomberg reports that senior staff over at Goldman Sachs are said to have 'loaded up on firearms' in order to prepare themselves in case 'there is a populist uprising against the bank'.
Originally posted by marg6043
reply to post by HimWhoHathAnEar
Any words if AIG had insurance on the Dubai loans? or any other bank in the US?
Or how many banks in the US or financial institutions were up to their necks on investments in Dubai, I mean their customers money.
The US public will be “outraged” by Citibank’s $8 billion loan to Dubai just six weeks after the bank was bailed out, US House of Representatives domestic policy subcommittee chair-man has said. Dennis Kucinich commented on the Dubai loan and other US banking investments as a congressional panel released a report that strongly questioned Citibank’s actions. The report, shown to 7DAYS, cites the Dubai loan as the largest of the “questionable transactions” by banks after the US government bailed them out. It notes that the loan to Dubai’s public sector came on December 14, just six weeks after the US government gave Citibank a $25 billion bail-out.