Lehman Brothers had been started a family of German entrepreneurs who had recently emigrated to the United States in the mid-1800s.
They started as just a simple general store in Montgomery, Alabama, but in time grew to become one of the dominant cotton traders in the country… and eventually one of the largest financial firms in the world.
Lehman Brothers grew so large that when they went bust seven years ago, they nearly dragged down the entire financial system with them.
And that’s when the Federal Reserve and the US government stepped in with trillion dollar taxpayer-funded bailouts, interest rate cuts, and quantitative easing.
Back then it was a different world.
The US government’s total debt was ‘only’ $9.6 trillion. Today it’s over $18 trillion… and once they raise the debt ceiling (which is inevitable) the debt will rise overnight to over $19 trillion– twice as much in seven years.
Source Article from https://www.freedomsphoenix.com/News/183481-2015-09-17-the-global-financial-system-is-now-resting-on-a-margin.htm?EdNo=001&From=RSS
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