Corporate Bonds

Question: Will corporate America's welfare check just go to the Russians?

MOSCOW (AFP) - Investments in the bonds of struggling US home-loan financers Fannie Mae and Freddie Mac have earned Russia more than a billion dollars in the past six months, press reports said Tuesday.
"The bonds in which we have invested have not incurred losses but instead have made us more than a billion dollars in the last six months," Russian Finance Minister Alexei Kudrin was quoted as saying by Ria Novosti news agency.http://ca.news.yahoo.com/s/afp/080819/business/russia_us_stocks_finance_1
By Stephen Bernard And Alan Zibel, The Associated Press
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NEW YORK - Shares of Fannie Mae and Freddie Mac lost more than a quarter of their value on Wednesday as fears mounted that the U.S. mortgage financiers will soon need government support and any bailout would hang stockholders out to dry. http://ca.news.yahoo.com/s/capress/080820/business/mortgage_giants_crisis_5

Answer: Yes of course. Capitalism has no nationality. Nation states are tools to keep the working class divided and concentrations of wealth shielded from social justice.

The working class cannot defend its vital interests through pressure on the Democrats or any other institution of the American plutocracy. In the coming class battles, it must organize itself as an independent political force to fight for the socialist reorganization of society, including the transformation of the banks and finance houses into public utilities under the democratic control of the working population.

http://www.wsws.org/articles/2008/jul2008/bail-j15.shtml

In-Depth Look -Newly Issued Corporate Bonds Outperform - Bloomberg