A World Awash in Dangerous Liquidity
It should perhaps be no surprise that given that the US Treasury Secretary was until recently head of one of the world’s most highly leveraged financial institutions. Leverage is king in the world of funny money promoted by Hank Paulson and the vastly overpaid glitterati of Goldman Sachs and its ilk.
But in all the hype about the record US$21 billion IPO…
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