I think it will be...
$this->bbcode_second_pass_quote('', 'S')peculative Onslaught. Crisis of the World Financial System: The
Financial Predators had a Ball
Financial Tsunami, Part V
by F. William Engdahl
Global Research, February 23, 2008
[...snip...]
At the end of February the Financial Times of London revealed that
US banks had "quietly" borrowed $50 billion in funds from a special
new Fed credit facility to ease their cash crisis. Losses at all the
major banks from Citigroup to J.P.Morgan Chase to most other major US bank groups continued to mount as the economy sank deeper into a recession that clearly would turn in coming months into a genuine depression.
No Presidential candidate had dared utter a serious word about their proposals to deal with what was becoming the greatest financial and economic meltdown in American history.
By the early days of 2008 it was becoming clear that Financial
Securitization would be the Last Tango for the United States as the
global financial superpower.
The question now was posed what new center or centers of financial power could conceivably replace New York as the global nexus. That we will examine in Part VI.
[...snip...]






