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USA Just Gone Bust

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    USA Just Gone Bust

    http://news.bbc.co.uk/1/hi/business/7601701.stm

    "For the US Treasury, the bailout could turn out to be one of the most expensive financial rescues in history "



    World Panic Tomorrow
    Last edited by Paddy; 7 September 2008, 16:13.
    "A people that elect corrupt politicians, imposters, thieves and traitors are not victims, but accomplices," George Orwell

    #2
    This should mainly affect shareholders of those companies. Dollar might slide down though, but probably against euro only.

    Comment


      #3
      US late again as UK been there and dunnit with our own Northern Rock.

      Comment


        #4
        Originally posted by Turion View Post
        US late again as UK been there and dunnit with our own Northern Rock.
        No, what they did is nothing like NR - those 2 companies that they bailed out guarantee 50% of all US morgages - $2.5 trln, this is more than annual UK GDP (I think - can't be arsed to double check).

        Comment


          #5
          Originally posted by AtW View Post
          This should mainly affect shareholders of those companies. Dollar might slide down though, but probably against euro only.
          AtW, as usual you don’t know the facts. The grantors cover 50% of US mortgages and is Government backed. It has more the twice the national debt of the UK
          "A people that elect corrupt politicians, imposters, thieves and traitors are not victims, but accomplices," George Orwell

          Comment


            #6
            Originally posted by AtW View Post
            This should mainly affect shareholders of those companies. Dollar might slide down though, but probably against euro only.
            I really hope you are right! I think this could affect sentiment - though while sovereign funds continue to buy US government debt I hope it will not be too bad.

            If only we could get all the bad news out of the way......

            Comment


              #7
              Originally posted by Paddy View Post
              AtW, as usual you don’t know the facts. The grantors cover 50% of US mortgages and is Government backed. It has more the twice the national debt of the UK
              Maybe you'd bother to read my post above, date stamped earlier than yours?

              Comment


                #8
                Originally posted by AtW View Post
                No, what they did is nothing like NR - those 2 companies that they bailed out guarantee 50% of all US morgages - $2.5 trln, this is more than annual UK GDP (I think - can't be arsed to double check).
                http://www.independent.co.uk/news/bu...ar-905461.html

                http://newsvote.bbc.co.uk/1/shared/f...ew/default.stm

                UK GDP £1.41 trillion

                exchange rate of 1.776

                =$2.504 trillion USD

                HTH

                Comment


                  #9
                  Originally posted by AtW View Post
                  This should mainly affect shareholders of those companies.
                  How did this happen? Who's to blame? Well certainly there are those more responsible than others, and they will be held accountable, but again truth be told, if you're looking for the guilty, you need only look into a mirror.

                  Follow me on Twitter - LinkedIn Profile - The HAB blog - New Blog: Mad Cameron
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                  "We hang the petty thieves and appoint the great ones to high office" - Aesop

                  Comment


                    #10
                    Originally posted by BrilloPad View Post
                    http://www.independent.co.uk/news/bu...ar-905461.html

                    http://newsvote.bbc.co.uk/1/shared/f...ew/default.stm

                    UK GDP £1.41 trillion

                    exchange rate of 1.776

                    =$2.504 trillion USD

                    HTH
                    So I was right then?

                    Comment

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