Cheney's Very Own Banker "Spills the Beans": World Financial Bubble Waiting to Burst

3 de may de 2007

<body><div id="article"><tr><td height="28" valign="middle" width="184"></td><td valign="middle" width="185"></td></tr><h1>Cheney's Very Own Banker "Spills the Beans": World Financial Bubble Waiting to Burst</h1><p>May 3, 2007 (EIRNS)--The Boston banker who has been managing $6.1 million for the U.S. president of vice, Dick Cheney, has just put out a quarterly letter calling the entire world financial system a bubble ready to pop. Jeremy Grantham of Grantham, Mayo, Van Otterloo & Co. calls his newsletter piece "The First Truly Global Bubble," and he maintains that every asset class in the financial world is in the midst of a bubble.</p><p>The bursting of this bubble, Grantham says, "will be across all countries and all assets, with the probable exception of high-grade bonds.... Since no similar global event has occurred before, the stresses to the system are likely to be unexpected," he concludes with ironic understatement.</p><p>Thus having perhaps covered his own rear end as Cheney's banker, Grantham certainly has left Cheney's uncovered, and he attacks the energy policies of Cheney's White House Energy Task Force, according to Bloomberg News which spoke to Grantham.</p><p>The news service notes that this Boston banker donated $23 million to Imperial College London, to establish an institute on climate change.</p></div></body>