Selling the US by the dollar

[donsu]

http://www.atimes.com/atimes/Global_Economy/IK29Dj01.html


-snip-

Citigroup, facing what the markets fear may amount to a $30 billion or more hit on its capital base due to its problems with subprime mortgages and associated derivative financial products, recently had its chief executive officer, Charles O Prince, fall on his sword in an effort to satisfy the mobs of angry shareholders. This did little to assuage the howling furies; they're still lashing the company, with sell orders whipping off their computer mice. The stock is down over 45% this year, almost 25% this month.

-snip-

If the electronic media are now history's first draft, then, to judge by the reaction of the on-air personnel on business cable channel CNBC, America has just had its best day since the famous New York City Times Square victory celebrations at the end of World War II.

-snip-

Of course, what's going out as the $7.5 billion comes in is the shining jewel called ownership.

-snip-

In essence, in commencing the process of selling away America's remarkably innovative and profitable financial system, the country will now be paying a rent, in the form of the profits accruing to Abu Dhabi and the other SWF buyers that must surely follow its lead, equal to what it once collected for itself.
-snip-
-----------------------------


going, going, gone

[Fredda Weinberg]

1. I'm afraid this was inevitable. The original speculation began in the

70's but we've fulfilled the nightmare scenario.