Debt Rattle, June 23 2008: Crossroads in Wastelands

Dorothea Lange Crossroads October 1939"Crossroads off the highway in a cut-over area. Boundary County, Idaho." Ilargi: Banks can no longer find investors to shore up their capital. At the same time the monolines are trying to negotiate with the same banks to not call them on $125 billion worth of swaps. The reason, presumably, is simply that nobody has this kind of money, no matter how much the