The House that Jack Built
The AUD dollar fell to 78 US cents thats a 13 year low apparently, things may get worse still. A looming stock market crash worse than the one in 1987, they say.
One of americas biggest insurance corps AIG is facing bankruptcy with a 95 percent drop in their share prices they need a floater of about 75 billion....
own assets totalling about 1 trillion USD
Imagine the commission on that.....
Meanwhile the american goverment have bailed 2 of the most promenent mortgage companies Freddie Mac and Frannie Mae out of possible bankruptcy and dropped mortgage rates, so on and so forth to entice investors back into the housing economy.
Frannie Mae has an annual turnover of 44 billion USD
Freddie Mac 43 billion respectively
My question is....where does all this extra money come from and how come it's seemingly readily avaliable when it comes to protecting the goverments interests??
Meanwhile... still
30,000 Hurricane Ike evacuees are still living in 300 public shelters in Texas. One centre in Houston drew a crowd of 10,000 people. One shelter.
Tens of thousands are still homeless, still travelling miles for basic necessities, food, clothing, shelter and electricity....
I speak for myself but I think, you know.... that's nothing that a couple billion wont fix....
As of an hour ago, Ike's death toll was 41.
?