Well, Finance Minister Ronny Bar-On you sound confident that Israeli banks are stable, but I don`t see how you can be so certain when banks all over the world are tangled up in a global financial system based on "leveraged" assets which are worth half of what they used to be worth a fortnight ago. Everybody is going to get burned by this world-wide financial meltdown and that includes Israelis, Arabs, and Persians.
If Israeli banks sail through this crisis without a scratch, then a lot of people are going to be blaming the Jews for this mess whereas it is probably due to a culture of people living beyond their means on credit for too long and greedy lenders charging high interest rates for the privilage. The whole structure is based on future expected earnings and worth which may not materialize and not on anything substantial in the immediate.
It`s time for everybody to pay cash on the barrel head for what they want for awhile. |
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