| Global Finances - Focus on Locusts Video - Pt 1 |
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| Contributed by Max Keiser | |
 Max Keiser in Germany Financial markets around the world are in turmoil. It was first caused by the 'sub-prime' mortgage crisis inside America, but the fallout today is as dramatic as it is global. Banks and hedge funds around the world have been hit with losses of hundreds of millions and even billions of dollars. The era of easy money which drove a frenzy of leverage buy-outs by private equity firms has vanished. The banks that financed many of these buyouts are now left with $300,000,000 in loans that they can no longer sell on to pension funds and hedge funds. So, is another round of financial turmoil on the cards? Max Keiser begins in Germany investigating the role played by private equity deals in bank closures and fund liquidations. "Well, the people are gathered here today. It's primarily a 'street fair'. The authorities have done a good job in transforming May Day, which has been a traditional day of dissent and protest, into a street fair. The world of worker vs corporation has been replaced by a new financial world where wealth is created not by making or building things but by swapping, creating, engineering debt. Yes, debt can make you very very rich in this day and age.
Radical, genius, millionaire Max Keiser is founder of Karmabanque Index...,Karmabanque Radio..., and the Truth About Markets. Max Keiser created the Hollywood Stock Exchange and Kinooga. |
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