Interview with Bob Ivry of Bloomberg News, who led a reporting team on an award-winning series of articles showing the true cost to the taxpayer of the Federal bailout of Wall Street – $12.8 trillion lent, spent or guaranteed to banks at its peak.
Watch the full episode. See more Need To Know.
Source: PBS
"Overall household indebtedness is up from $7 trillion to almost $10 trillion since 2000. On this sum, we estimate, the American consumer has an annual interest bill of more than $500 billion; a sum, by the way, that vastly exceeds his current income growth." —Kurt Richebacher
"The Greek offer is not sufficient and they have to go away to come up with a revised plan," said a spokesman for the German Finance Ministry. The Greeks must first have a plan that satisfies the Germans which this comment states they clearly don't yet and then the Greek Parliament will vote on it this weekend. This said, whatever package gets voted on in Greece is basically an up or down vote on euro membership so we are entering another uncertain weekend for global markets. A failed vote will likely lead to a hard default which may be what...
read more »
Tweet
Facebook
Reddit
Digg this!
