zorkfin

Detroit's Face-Off with Bankers

It depends on whether the bank loans are secured or not. If they are secured by equipment the lenders have all the right in the world to ask that equipment to be sold. In general the politicians are getting too used to break any and each law related to bankrupcy and otherwise, because they represent "the taxpayer". I do not consider that any politician represents me any more than any bankster. I am sick of all laws being ignored and one of a kind solution being applied in the favour of whoever is better politically connected or whoever whines the loudest.

Wall Street Breakfast: Must-Know News

Who decides what probable cause for tax evasion is? Is it Geithner or Daschle?

'Bailouts' Are Misunderstood

The role of a free market is to alocate a scarce resource, money, to the places where it is most needed and where it is best spent. All government interventions, like bailouts distorts this mechanism and ends up in malinvestments and bubbles, Money which should not be available ends up in investments which should not be funded. That's why you had the internet bubble, the housing bubble, the commodities bubble and the massive interventions now will create the next bubble. Speaking of interventions also the state gets to decide that AIG leaves while Lehman dissapears which should not be their decision. The state can decide to print money but it has no control where the money ends. This is why eventually we will have other bubbles, hyperinflation and a debased currency, even if this does not start tomorrow,