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Politics : The Obama - Clinton Disaster
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To: Wayners who wrote (10442)4/3/2009 4:44:38 PM
From: DuckTapeSunroof  Read Replies (1) of 103300
 
Re: "What I didn't really know is that Europe had their own debacle, similar to our's at the same time, with Eastern Europe. In addition they also bought the securitized crap from the USA. They borrowed free money from Japan at 0% interest and invested it in Eastern Europe. Then interest rates went up in Japan suddenly and everbody tried to hit the exits at the same time. Instant disaster....."

Some people are judging that the size of that (Eastern European loan) economic problem is at least *twice* the size of the entire Asian currency collapse of the 'nineties....
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