Bernanke Will Keep Interest Rates Low
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Those foreign banks bet that AIG would be around. They should have been wrong about that and lost their insurance premiums on derivatives contracts they entered into with AIG. The US taxpayer should not be expected to make AIG counterparties whole.
Why should taxpayers buy assets of very questionable value? They shouldn't. Banks will not lend more than they currently are because there aren't enought qualified borrowers in this economy.
Prof. James Galbraith (son of John Kennith) knows what he is talking about. I think he is right.
Sometimes, students of the political scene also need to watch t.v. programs which are ordinarily considered important parts of popular culture.
Wow! The United States is moving the diplomatic initiative forward with Iran. As a step toward political engagement and dialogue, this is historic and unparalleled in recent history!