Wednesday, Sep 15, 2010
States from California to Illinois have been in deep crisis since the recession began
CNN Money: Bankrupt, USA: Why our cities aren't too big to fail
Bear Sterns and Lehman Brothers for instance -- are no longer with us, while many of the major liquidity providers there, such as single strategy municipal hedge funds, "collapsed or were shut down."
Nor is a wave of defaults off the table just because they have not occurred in recent decades. Before the housing downturn, real-estate bulls saw housing prices laddering to the sky and often noted that real-estate prices had never declined nationwide -- until they finally did.
Posted by mark @ 01:19 PM (699 views) Add Comment
1 Comment
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1. Crunchy said...
"Why our cities aren't too big to fail?"
In order for an enemy to be defeated from within, one has to take them down bit by bit, by wasting their wealth and home defenses on
expensive and needless wars whilst robbing them blind in the name of change. Some people need to look into some Prescott Bush
history to understand, It has been tried before. Good old Smedley Butler!