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Blog Archive

Tuesday, July 29

Merrill Lynch to Lone Star-- and the money game

When the $30 billion of securities were sold to Lone Star, for 22 cents on the dollar, the world was shown something totally frightening. The system is gone. The paper is getting devalued and being passed around and around. Does that change anything? They speculate and pay 22-cents on the dollar.

They are just betting if they can get the government will bail them out. By the way, Lone Star has been accused of various crimes in its speculative deals in Korea.

Posted by Howiecopywriter at 3:20 PM

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