I am still traveling so this will be short and sweet. I'd like to point out an excellent article by Laura Rowley over on Yahoo Finance. It is titled, "Footing the Bill for the Subprime Fiasco."
And while we are on the topic of messes, you might also have a look at Scott Burns' article on the federal deficit. (Free registration required) According to government figures, the entire deficit problem boils down to unfunded liabilities in the Social Security and Medicare programs. He goes on to point out t"if the
federal government confiscated all the land in the United States along
with all of its improvements – buildings, highways, plants and
equipment, and other durable assets built on it – and sold them at
auction to foreign investors, it would still fall more than $20
trillion short in present value of the monies required to satisfy its
Give these a read and let me know what you think. Gotta go. I have a plane to catch!
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