I received several packages in the mail today. The first was the very well-written book by Barack Obama, Dreams from my Father: A Story of Race and Inheritance (New York: Three Rivers Press, 1995). The other package had two Indian music CDs in it. Thanks! I can hardly wait to learn more about Barack and listen to the CDs (I enjoy so-called "world music").
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If the US assumes liability for Credit Default Swaps issued by financial institutions, its potential exposure is many times its gross domestic product.
If the US does not take on this liability it risks annihilation of the modern financial system.
in which I ponder further a physicist's amateur perspective on the stupidities my ex-colleagues perpetrated
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so apparently insurance conglomerate giant AIG is on the verge of bankruptcy, again, despite something of order $200 billion bailout from the US, which now owns 79.9% of the company
the news solution is to request the US government guarantee the outstanding CDS that AIG issued