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Tuesday, June 14, 2011

We have NO money yet Obama guarantees debt to Egypt which has NO government!

How stupid is this? Even when Egypt gets a government it will probably be controlled by the Muslim Brotherhood…a terrorist organization!

Egypt Debt Buoyed by Obama Guarantee for $1 Billion Eurobonds: Arab Credit

By Alaa Shahine and Ahmed A Namatalla - Jun 14, 2011 9:46 AM

Egypt Debt Buoyed by Obama Guarantee for Eurobonds

Egypt is rated Ba3, three levels below investment grade, by Moody’s, which lowered the rating for a second time this year in March. Photographer: Khaled Desouki/AFP/Getty Images

President Barack Obama’s guarantee on $1 billion of Egyptian Eurobonds is poised to reduce the country’s borrowing costs, helping the transition to democracy after six decades of autocratic rule.

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