In a desperate bid to prove he worships Wall Street enough to be allowed to remain president, Barack Obama has appointed General Electric CEO Jeffrey Immelt to the new White House group that will decide if CEOs are being treated well enough. (Obama is also shutting down the economic recovery panel led by Paul Volcker.) It's the latest move for a president who is
You see, this just proves Obama is a socialist. He's putting CEOs in charge of the government so when the government takes over the corporations the transition will be easier because the same people will still be in charge.
**millions of dittoheads and tea partiers nod in agreement**
At the risk of being serious on a Friday morning: If states can go BK and screw their bondholders, investors will shed the tax-free munis they are now holding and buy US government debt.
Gov. Jerry Brown here in California wants to wipe out redevelopment agencies. What happens to all that debt?
This has to drive up interest rates, no matter how hard the Fed strives to keep them down.
Mississippi still can't find buyers in England because of its default on bonds issued to support a state bank - and I believe that was circa 1830-1840. Those bondholders spent about one hundred and thirty or forty years trying to collect.
You see, this just proves Obama is a socialist. He's putting CEOs in charge of the government so when the government takes over the corporations the transition will be easier because the same people will still be in charge.
**millions of dittoheads and tea partiers nod in agreement**
Riiiiiiiiight.
At the risk of being serious on a Friday morning: If states can go BK and screw their bondholders, investors will shed the tax-free munis they are now holding and buy US government debt.
Gov. Jerry Brown here in California wants to wipe out redevelopment agencies. What happens to all that debt?
This has to drive up interest rates, no matter how hard the Fed strives to keep them down.
Mississippi still can't find buyers in England because of its default on bonds issued to support a state bank - and I believe that was circa 1830-1840. Those bondholders spent about one hundred and thirty or forty years trying to collect.