Re: [Pen-l] The Bear Stearns of the Atlantic

To: "Progressive Economics" <pen-l@xxxxxxxxxxxxxxxxxx>
Subject: Re: [Pen-l] The Bear Stearns of the Atlantic
From: "Sean Andrews" <cultstud76@xxxxxxxxx>
Date: Thu, 9 Oct 2008 13:36:03 -0500
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On Thu, Oct 9, 2008 at 1:24 PM, ravi <ravi@xxxxxxxxxxxxxxx> wrote:
> On Oct 9, 2008, at 1:58 PM, Louis Proyect wrote:
>
>> The New York Times, October 9, 2008
>> In Flailing Iceland, Disbelief and Regret
>> By ERIC PFANNER
>>
>> REYKJAVIK, Iceland â People go bankrupt all the time. Companies do, too.
>> But countries?
>>
>
> Financial or moral bankruptcy? Round two of putting "the market" before all
> else!
>

I recall a quote from a Citibank executive in the 1970s, involved in
recycling petrodollars, loaning out more than 150% of their capital,
mostly to developing countries: "Countries don't go bankrupt."  Looks
like not only are the companies short on memory, but so are finance
reporters.  Fisheries aside, this is at least round two.  Idiots!

s

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Follow-Ups:
- Re: [Pen-l] The Bear Stearns of the Atlantic
  - From: Doug Henwood

References:
- [Pen-l] The Bear Stearns of the Atlantic
  - From: Louis Proyect
- Re: [Pen-l] The Bear Stearns of the Atlantic
  - From: ravi

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Thread context:
- RE: [Pen-l] Standing, Stretching, Turning Around, (continued)
  - RE: [Pen-l] Standing, Stretching, Turning Around, Perelman, Michael Fri 10 Oct 2008, 03:17 GMT
- [Pen-l] Democracy Now promotes "we're bankrupt" meme, Robert Naiman Thu 09 Oct 2008, 17:41 GMT
- [Pen-l] The Bear Stearns of the Atlantic, Louis Proyect Thu 09 Oct 2008, 17:36 GMT
  - Re: [Pen-l] The Bear Stearns of the Atlantic, ravi Thu 09 Oct 2008, 18:03 GMT
    - Re: [Pen-l] The Bear Stearns of the Atlantic, Sean Andrews Thu 09 Oct 2008, 18:14 GMT
      
      Re: [Pen-l] The Bear Stearns of the Atlantic, Doug Henwood Thu 09 Oct 2008, 18:27 GMT
  - <Possible follow-up(s)>
  - Re: [Pen-l] The Bear Stearns of the Atlantic, dsquared Fri 10 Oct 2008, 09:40 GMT
- [Pen-l] Sarah Palin lowered the standards for female candidates, Charles Brown Thu 09 Oct 2008, 17:14 GMT
- [Pen-l] a new Middle East War, Jim Devine Thu 09 Oct 2008, 15:20 GMT

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