Wednesday, July 15, 2009

How the borrow-lending world works

Michael Jackson is the simple explanation how the borrow-lending world works, just in case somebody didn’t understand it yet.
If you owe a Bank 10.000 dollars you won’t be able to sleep.
They will bomb you with lawyers letters, Court’s summons, and more than anything, you won’t be able to get any loan for the rest of your life.
The picture changes dramatically if you owe 10 millions and even better if the sum is more than 100 millions.
Michael Jackson had debts around 800 millions, that didn’t forbid him to have a life style that cost him something like 100 millions a year.
This is how it works in the case of the American Government and entities like banks.
The federal government throws millions at them in the desperate hope in some sort of a miracle.
If it was in Italy one would think (and would be right) that in the back there is the long Mafia’s hand...
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