It’s All Greek To Me

When you owe the bank a little, they own you. When you owe the bank a lot you own them. Every seasoned lender knows the borrower holds the power when both parties understand the bank cannot afford the borrower’s failure. The loan documents still read as if the bank holds the cards, but the Musky is setting the drag on the reel. I don’t understand all the intricacies of what the IMF, The US Federal Reserve Bank and the US Treasury did last week to bail out Europe. The meaning behind the sketchy public statements is difficult to decipher, but ...