The salient idea rspeented quite correctly by Prof. Ferguson is that the Chinese, despite their comparatively low salaries, are notorious savers and Americans, despite their means, are notorious spenders. Their banks are (or were) stocked with cash. Much of the money that has been squandered, stolen and gambled away by the Wall Street banks came from both the Chinese government and Chinese banks, who at one time were all to eager to loan their depositors assets and current account surpluses to Lehman, Wachovia, Merrill, et. al., along with huge purchases of American T-bills and government bonds. The Chinese wanted a safe and decent return on their money and the big banks, flush with expendable cash, pushed much of it down to the mortgage companies on your street and mine and their sales folks followed the marching orders and went out and gave a mortgage to anyone with a pulse. - Driton - 2012-04-04 Vælg venligst