Quote Of The Day
Chinese Prime Minister Wen Jiabao:
“President Obama and his new government have adopted a series of measures to deal with the financial crisis. We have expectations as to the effects of these measures,” Mr. Wen said. “We have lent a huge amount of money to the U.S. Of course we are concerned about the safety of our assets. To be honest, I am definitely a little worried.”
Sorry, Mr. Wen. Much like the mortgage lenders who have imploded have learned, you shouldn’t lend money to people based on their “stated” ability to repay.
Hat Tip: MichaelW @ QandO