Friday, April 24, 2009

Today's Crisis...

So, I am finding all kinds of things that are quite similar to today's situation in the 1998 economic crisis in Russia. Ironic that one of the banks that when under this time (a few months ago, I think), was one that helped the Russian Oligarch banks use insider info to save their own hides and their fortunes, while letting the rest of the people suffer. Which bank is that? None other than Goldman Sachs. I think that the only thing that could have made it more Ironic would have been if Russian banks had bought them out when they crashed. The other bank that gave money was the IMF (International Monetary Fund). The more I read about the IMF, the more I really see them as an organization that is bad for the people. They money they loaned to Russia immediately prior to the loan default of 1998 also ended up in the Oligarch's pockets. Controversial, to say the least, and also some food for thought...

No comments:

Post a Comment