"It is the worthlessness of huge chunks of securitized American mortgages which has made large American hedge funds insolvent – though no one has looked closely for fear of what they might find – which in turn is affecting the perceived solvency of large American financial institutions, so much so that the Europeans are balking at making even extremely short term loans to them." permanent link
The Simple Truth - Quite simply - There's Not Enough Money on Earth to Satisfy all Outstanding Debts
The stock market investor after taxes and fees has just about nothing to show for his 41 years of doing without the use of his money. Stock Markets and Economic Liberty by Gary North
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