The AIG/Bank Counterparty Scandal Escalates [View article]
The wording is interesting
"I understand the importance of honoring foreign obligations BECAUSE OF THE NEED FOR US TO CONTINUE TO RECEIVE A FLOW OF FOREIGN INVESTMENT."
So is he telling us that it's not important to honor contracts for their own sake? It is the basis of functioning capitalism. It would be much better to let the courts deal with it in an orderly and impartial manner.
The AIG/Bank Counterparty Scandal Escalates [View article]
"I understand the importance of honoring foreign obligations BECAUSE OF THE NEED FOR US TO CONTINUE TO RECEIVE A FLOW OF FOREIGN INVESTMENT."
So is he telling us that it's not important to honor contracts for their own sake? It is the basis of functioning capitalism. It would be much better to let the courts deal with it in an orderly and impartial manner.