Presently at coffee shooting the breeze. Getting asked of what I thought of the financial bailout had me sputter a bit, but they've got to do it.
"The thing of it is, who gets bailed, and it looks bad... Lehman goes under but Goldman gets covered? Paulson chaired Goldman. But it's all so interconnected. Who's really hurting are the overseas exchanges and international funds. Lots of trade dollars got invested there. They ain't covered."
So you sit down, relax, and lo and behold, the liquidation is buying greenbacks. The hedge department may be debunked, but the currency traders are going great guns.
"It's all relative and you just can't keep up."
I try to keep Gresham's Law in mind, not that my heart's in it. Easy credit debases the full faith we have everything's going to be alright. Well, you do know why the mateys bit the coins in the pirate movies, don't you? And pieces of eight? Clipped into bits; two bits. Get it? We'll be fine.
"The thing of it is, who gets bailed, and it looks bad... Lehman goes under but Goldman gets covered? Paulson chaired Goldman. But it's all so interconnected. Who's really hurting are the overseas exchanges and international funds. Lots of trade dollars got invested there. They ain't covered."
So you sit down, relax, and lo and behold, the liquidation is buying greenbacks. The hedge department may be debunked, but the currency traders are going great guns.
"It's all relative and you just can't keep up."
I try to keep Gresham's Law in mind, not that my heart's in it. Easy credit debases the full faith we have everything's going to be alright. Well, you do know why the mateys bit the coins in the pirate movies, don't you? And pieces of eight? Clipped into bits; two bits. Get it? We'll be fine.
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