CSR ISSUES IN FINANCE 11/11 (Blogspot):U.S. Subprime Debt-Holders Lose Twice. Foreigners holding U.S. securities are not just losing money because of the decline in the value of the dollar - many of them may also be losing money on the securities themselves. Barclays and the Royal Bank of Scotland appear to be caught in the web of Collateralized Debt Obligations. An RBS analyst puts the magnitude of the loss from subprime debt at greater than $250 billion and possibly as high as $500 billion. This would be larger than S&L losses in the 1980s. But this time round, some of the costs are being exported. Questions about responsibility for the subprime losses will be coming from overseas as well as from Americans. Were aggressive lenders breaking the law or were within the law but unethical? More: 11/11/07, Blogspot, Subprime Problems Exported. Pension Funds.
10/17 (HuffPost): Growing Public Debt."The U.S. public debt is currently $9 trillion. That's an average debt for 303 million U.S. residents of about $30,000, or for 135 million U.S. taxpayers of about $67,000. (The numbers are about six times bigger if we add unreported U.S. liabilities.) This debt is being financed by our children and by the rest of the world..." 10/17/07 Blog on Huffington Post, John Tepper Marlin, The Growing Price of U.S. Debt,