funds to make highly speculative investments in bad mortgage products and other high - risk financial instruments . The results were predictable and catastrophic : In essence , a replay of the Wall Street binge of the 1920s , culminating in a crash much like that of 1929 . Now , as noted above , there are other shadow banking activities additional to those of MMMFs — derivatives writing and trading , for example , like that done by AIG before 2008 , and speculative ( not to mention exploitative ) securitizable mortgage lending like that done by Countrywide in the same period .
We will not share your email with anyone for any reason . Last May , Trump revealed that he took on debt with no intention of paying it all back , which strikes me as fraud . “ I ’ve borrowedtransaction.transferownership.borrowlendknowing you can pay back with discounts , ” he told CNBC in May , boasting “ I ’ve done well with debt . ” Back then Trump threatened endless litigation unless 70 banks he owed money gave him millions more in new loans at low interest rates and provided him with $ 5.4 million a year for personal spending , the equivalent of $ 10 million in today ’s money . Back then , one billionaire told The New York Times he did n’t know how to spend that much on himself and his family .
NATO is obsolete … if we have to walk , we walk . ” He believes we can treat the U.S. economy like one of his casinos and default on our debts to the rest of the world , which would cause an economic catastrophe far worse than anything we experienced in 2008 . TRUMP : “ I ’ve borrowedtransaction.transferownership.borrowlendknowing that you can pay back with discounts ... I would borrow knowing that if the economy crashed , you could make a deal . ” He has said that he would order our military to carry out torture ...
The 150 poorer nations all have weak tax systems , which means that tax evasion — the driving force for Americans and Europeans hiding wealth offshore — is a minor factor in the levels of flight wealth from those countries . Collectively the 150 poorer countries whose economic data Henry scrutinized owe $ 8.1 trillion of foreign debt . Statistically , that means that all of the money these nations borrowedtransaction.transferownership.borrowlendexternally , much of it from the United States and Europe , has been sent offshore . In addition , corrupt rulers looted $ 4 trillion from the national treasuries they control . Almost a third of the $ 12.1 trillion of poorer country flight wealth comes from Russia , China , Malaysia , Mexico , and Venezuela .