Wednesday, April 22, 2009

Jesus H. Christ

I was listening to a Planet Money podcast where they mentioned that China owned around US$ 500 billion of Fanny Mae & Freddie Mac bonds.

That's a lot of houses funded by exporting cheap products to America.

They are lucky the US government backed those bonds up, otherwise they would be in big trouble. 

Imagine what could have happened...

1 comment:

Anonymous said...

I'm imagining Fortress USA except the PLA is invading to take over homes they own.