Who Picks up the Pieces in the Wake of the Financial Meltdown?
An internal war within the financial system is unfolding. Lehman Bros goes bankrupt, Merrill Lynch is bought up... Mortgage giants Fannie Mae and Freddie Mac are taken over by the government.
Bear Stearns collapses, America's largest insurance company AIG's share collapse from $22.19 on September 9 2008, to less than $4.00 at the close of trading on September 16, a decline of more than 80 percent of its value.
With the collapse in stock market values, listed companies experience a major collapse in the price of their shares, which immediately affects their creditworthiness and their ability to borrow and/ or to renegotiate debts ( which are based on the quoted value of their assets).
Bankruptcies and Foreclosures constitute a money-spinning operation for the financial giants.
Among the companies on the verge of bankruptcy are some highly lucrative and profitable operations. The important question: who takes over the ownership of bankrupt giant industrial corporations?
http://www.globalresearch.ca/index.p...t=va&aid=15323
Listen to this:
http://www.youtube.com/watch?v=1eSVIXQzsFs
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