Rebel Cricketers
November 4, 2008
On Election Commitments
December 27, 2008

Financial rout and future options

Sajjad Zohir
Published in The Daily Star
Monday, November 17, 2008

In a recent article (Who are the Architects of Economic Collapse? Will an Obama Administration Reverse the Tide, Global Research, November 9, 2008), Michel Chossudovsky noted that the “bailout” proposed by the US Treasury does not constitute a “solution” to the crisis. On the contrary, he predicts, it will cause further collapse. To quote him: “We are dealing with an absurd circular relationship: to finance the bailout, Washington must borrow from the banks, which are the recipients of the bailout.”

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