Risk Rap

Rapping About a World at Risk

How Many Zeros Are In $53 Trillion?

Paul O’Neill just finished jabbering away on Bloomberg TV. Great stuff.

O’Neill declared the death of the private equity industry, opined on the evils of Sovereign Wealth Funds, stressed the need for banks to be better capitalized and raised a warning flag about the $53 trillion in unfunded liabilities lurking in the future federal government spending commitments.

I believe he also said “that government is broken.”

Was this guy actually the Treasury Secretary in W’s administration?

From his perspective it appears that Paulson is just rearranging the chairs on the deck of the Titanic.

Risk: Political, Banking, Deficit Spending

You Tube Video: Tennessee Earnie Ford, 16 Tonnes

April 16, 2008 Posted by | Bush, sovereign wealth funds, Treasury | , , , , | Leave a comment