That we saw over the last few years but now were seeing the almost everything bail out and this is the way when you find out whether the person where no shorts at the poker table or when the tide went out one magical had that in a metaphor if i ever heard one i think people will understand you will understand i i combine 2 of Warren Buffetts famous sayings but they imus says half the world has asked for a bailout remember 100 percent of the world cant get a bailout half of it has to pay for half of that have to be the suckers at the poker table so half the world as now asked for a bailout the i. M. F. Is saying that 100 countries have asked for some form of bailout from them about 10 percent has been given out to 10 countries anyway and they expect half the other countries to get some within the next few weeks the i. M. F. Is ready to use its full tool box and one trillion dollar fire power of lending you know i have a question for you so going back to 2008 and remember the i. M. F. Ca
Oh max kaiser this is the kaiser report the response has been overwhelming people are demanding for staceys pro way kaiser report and you know as we continue with the lockdowns and the bailouts because of the lot downs from the coronavirus couvade 19 pandemic situation sweeping the world fairness is what justice really is and that was a quote from Potter Stewart who was a Supreme Court justice member Sandra Day Oconnor took over for him afterward fairness is what justice really is so as we look at these bailouts and the lack of fairness that weve seen. Since the intervention of the fed days so say in 1907 when the plunge Protection Team and Alan Greenspan came to the rescue of the bad bets made on wall street chicago. And ever since and weve had more and more and more unfair system it starts off a little bit unfair and as we see like a little change of direction way back then in history becomes a huge gap we see that with the wealth and income gaps and we see that with every single cra
Then you succeed remember in america possession is 9 tenths of the law now if you dont compete successfully then you get thrown out of the game basically but thats the way it is in the United States and. Having said that when you talk about banks being bailed out by the fed and you talk about all of the high yield bonds being owned by the major banks and they are being bailed out thats clearly unfair but the response cant be that we need to institute more laws because we already have laws theyre breaking the laws in the case of this s. P. V. With that high yielding e. T. F. J m k they broke the law so theres a fairness implies and justice said this and hes part of the judicial system of courts of law. If breaking the law is without penalty then it just doesnt make sense to introduce new laws in terms of the fairness ok these banks took on bad debts that mostly in the fracking sector and they were doing their part because remember Time Magazine said america the saudi arabia of america e
That we saw over the last few years but now were seeing the almost everything bail out and this is the way when you find out whether the person where no shorts at the poker table or when the tide went out one man who had that in a metaphor if i ever heard one i think people understand you will understand i i combine 2 of Warren Buffetts famous sayings but they imus says half the world has asked for a bailout remember 100 percent of the world cant get a bailout half of it has to pay for half of that have to be the suckers at the poker table so half the world has now asked for a bailout the i. M. F. Is saying that 100 countries have asked for some form of bailout from them about 10 percent has been given out to 10 countries anyway and they expect half the other countries to get some within the next few weeks the i. M. F. Is ready to use its full tool box and one trillion dollar fire power of lending you know i have a question for you so going back to 2008 and remember the i. M. F. Came i
Got harder to buy a house from tuesday this week customers applying for a new mortgage will need a credit score of at least 700. 00 and we acquire to make a down payment equal to 20 percent of the homes value but this is an interesting concept one of fairness as it relates to the economy and its not really baked into be american system is not designed to be fair because fair is what is fair for one person is unfair to another person and thats a highly subjective term what america relies on is free market capitalism it relies on competition and if you are successful competing and you succeed remember in america possession is 9 tenths of the law now if you dont compete successfully you get. Thats thrown out of the game basically but thats the way it is in the United States and. Having said that when you talk about banks being bailed out by the fed and you talk about all of the high yield bonds being owned by the major banks and they are being bailed out thats clearly unfair but the respo