Monday, October 20, 2008

When I pay for Jondoo's bad debt ?! Financial A B C.. not really

Once upon a time, Jondoo took a loan in the US and is unable to pay... now his debt along with many other US citizens is paid again and again by others... Trillions pumped, you might not think of it this simplistic way, but the end Europe, The Gulf, Asia...

Let's not get into details, the result is very clear everyone is pumping cash because of the debt jondoo didn't pay... I'm not blaming Jondoo, after all he really tried to pay... it's just another angle on results

I find it very amusing that no matter how much we know about this financial crises we will not change anything about it in the Arab World... The whole world is paying including me and you me for someone Else's bad debt...

There is a very interesting article in Arabic on Bilal Sharif's blog about this in detail great stuff...

Conclusion:
Our banks suck...

2 comments:

Anonymous said...

I don't think you quite right on this. If by our banks you mean jordanian banks, then i have to disagree with you. Jordanian banks did not buy any of the complex instruments that caused the disaster. They are probably suffering from the effects indirectly, but they definitely did better than most!

M Kilany said...

Anon,
I hate the whole banking system... not only our banks :)