Bailout The Rest of the World
Interesting, China owns a big chunk of Fannie Mae. In total foreign investors hold over $1.3 trillion in these agency bonds. A US taxpayer bailout would be really interesting on this one...
So, how good are those emerging market investments in China going to be when China starts taking its lumps on its wealth funds? These kind of losses have to have a trickle down effect in the economies.
I still haven't seen any news about how Canada's wealth fund, also known as the Canada Pension Plan, is doing. Canada's best investment with its wealth fund is to pay down its debt, but I think we the tax payer are going to be paying the same taxes twice, sigh.