europe takes it on the back , a big applause to mr trichet, former investigated executive of the bankrupt state owned credit lyonnais : vigilant on inflation , raising interest rates, strengthening the euro , the hawk is unaware of the credit lines of European commercial banks exposed to the us subprime mortgage . Americans have sold their subprime mortgage to greedy European regional banks , the masters of finance have been seduced by the American gurus who get rid of their garbage . one morning mr banker wakes up in a village in the Ruhr and finds out that its mortgage bonds portfolio is melting down while in paris executive manager call their buddy to announce they blew up a big chunck of the pension fund and they will it abide by the market rules .
check this , great interview to a great analyst / strategist , a fine connaisseur of economic matters
http://www.bloomberg.com/avp/avp.htm?clipSRC=mms://media2.bloomberg.com/cache/v.btSCKkH87g.asf
dR dOOM IS BACK : how much is he paid per interview. agree totally with him. he always makes sense . however that's the only yargument he puts forward boom and bust. it does not take a lot. he is a brand though. dr doom !!!
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