On Oct 9, 2008, at 2:41 PM, Doug Henwood wrote:
>
>> They surely have the money: e.g., the WSJ pointed out the other day
>> that "Exxon has $39 billion in cash and has been buying back shares
>> at an $8 billion-a-quarter clip; the value of the stock it has
>> repurchased is about $218 billion, a shade less than the current
>> value of General Electric Co."
>
> Last I checked, Exxon is not a bank. So the state of their balance
> sheet isn't really relevant to the crisis.
Where do they keep the money?
Shane Mage
"This cosmos did none of gods or men make, but it always was and is and shall be: an everlasting fire, kindling in measures and going out in measures."
Herakleitos of Ephesos, fr. 30