did Paul really say this about the global economy?
I just read this online via The Times.co.uk Macca is quoted from Stool Pigeon mag excerpt below.
Having a billion in the bank is no protection from the credit crunch.
Even Sir Paul McCartney checked with his accountant. He told The Stool Pigeon music paper: “I actually did phone my guy up and say,
‘How exposed are we?’. He said, ‘You’re as exposed as everyone. If the banks all go broke . . .’. But, as far as the way we do business, there’s not a huge speculative exposure.”
The ex-Beatle, now recording in experimental mode as The Fireman, blamed the global economic meltdown on the “irresponsibility” of yuppie debt culture.
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'Irresponsibility' of yuppie debt?
actually Paul, this war in Iraq and Greed, created this economic meltdown in the states!
Look at the oil companies
housining costs
finacial institutions
there is a large gap between the haves and have nots!!!
1 comment:
no one is safe in this follow up of the deregulation that lets wall street investors gamble on derivitives.(basiclly its a bet on defaults on loans)if the market no longer has a demand crash it.i predict for the next 3/4 that a 50% loss per unit will be recoverable to only 30% loss per unit over 5 years.
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