Coming to America
Great quote from our friends at Zero Hedge this morning:
The only thing in this world worse than Hank Paulson showing up in Congress with his initial 3-page TARP proposal giving him unlimited control over the US printing press? 12 non-Hank Paulsons, all of whom speak different languages, all of whom are hell bent on bailing everyone and everything out (just not on their political or physical dime…or 10 eurocents as the case may be), and all of whom have no idea how to bail out others’ (and soon their own) economy… oh, and none of whom have access to Hank’s reserve currency printer.
Nail Ferguson echoes our concern for the recent explosion in sovereign debt, which we outlined in our latest Broyhill Letter, in the Financial Times today – A Greek crisis is coming to America.