funny thing is that i have a 300 british pound and another denomiated in german marks chinese government bonds - issued via hsbc and deutsche bank for chinese government in my antique collection. the chinese government used the proceeds to built railroads. these were issued post ww1 by the then chinese government. they never had to repay them since the new communist government never recognized them.
Solution is to let these piss poor run companies like C,BSC,MS and the rest go UNDER,the GS,USB etc are competent enough to pickup the slack and run a company like it should be run.
C was in this same situation in the early 90s and was bailed out by arab prince,here we are years later same story..Let the POS company go under already.End of story
You da&m capitalists always creeping out of the woodwork at the most inoppertune times.HA-HA Don't you realize we are trying to get the situation under control by selling "SubPrime" backed Gov bonds to our foreign brothers? HA-HA
It will be interesting to see what lands are locked up when President Bush leaves office.
They all lock up more land due to the debt each and every time they leave office. How sad. Foreigners want more than paper I can assure you of that. Land and interest in that order. No wonder we have so many coming here. We owe them. That is the bad part of trade. Great we work for what we spend and then we work more for the paper we give them. I say all trades should close with goods. Our land is what is being taken from us.