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November 2009

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Jun. 22nd, 2009

spinning

And I started off today in a good mood too.. :-(

WOWOWOWOWOWOW!
I guess we "underestimated" the power of our president to put us into debt!

This is the last two paragraphs from
http://www.guardian.co.uk/business/2009/jun/21/goldman-sachs-bonus-payments

Goldman Sach's is making a KILLING trading the bonds that is putting our country deeper and deeper into debt. Read that number again, then read it again. $3.25 TRILLION!


< flame>
"These banks are intermediaries in the bond markets where governments and companies are raising billions of pounds of new money. There is also a lack of competition that means they can charge huge sums for doing business."

Last week, the firm predicted that President Barack Obama's government could issue $3.25tn of debt before September, almost four times last year's sum. Goldman, a prime broker of US government bonds, is expected to make hundreds of millions of dollars in profits from selling and dealing in the bonds.
< /flame>
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