see also Guest Post: Why The Government Is Desperately Trying To Inflate A New Housing Bubble
The problem with the theory that criminal prosecution of the banks could have a negative effect on the world economies is that the banks have already had their effect on the world economy. Along with their own well-deserved hit to their reputations they took the U.S. reputation and probably the whole Eurozone with them.
It won’t be long before Chinese currency and currencies pegged to Chinese currency become the standard medium of value replacing western currencies, unless we change and start running a country that controls and disciplines its players domestically and on the world stage.
Money-laundering firm should get no welcome in Maryland
Filed under: bubble, CDO, CORRUPTION, currency, Eviction, foreclosure, GTC | Honor, Investor, Mortgage, securities fraud Tagged: | bank prosecutions, banking, Bond Ratings, business, Confifdence, Cyprus, Eric Holder, finance, TBTF