Was it only last week I was expressing outrage that US taxpayers would have to pick up the check for Greek profligacy in the form of IMF guarantees? This morning we wake to up the sound of $250 BILLION in IMF guarantees for a European rescue fund, most of which will go to countries that are eventually...
John Mauldin's Outside the Box
Filed under: Filed under: Housing, Alan Greenspan, Fannie Mae, Freddie Mac, AIG, Europe, Economic Crisis, IMF, Greece, Goldman Sachs, Capital, Michael E. Lewitt
My long time readers are familiar with Jeremy Grantham of GMO as I quote him a lot. He is one of the more brilliant and talented value managers (and I should mention very successful on behalf of his clients). He writes a quarterly letter which I regard as a must read. I have excerpted parts of his recent...