Amidst reports that the Apple Inc. (Nasdaq: AAPL) company has more cash on hand than does the beleaguered U.S. government, it might be fun to wonder if Steve Jobs could singlehandedly bailout the Feds?
While Jobs has apparently made no comments about the Washington debt ceiling crisis, the mountain of cash that Apple has in its reserves (in excess of $76-billion) raises speculation of such a historic bailout.
As unlikely as such a scenario might seem, it has actually happened in the past.
John Pierpoint Morgan, the U.S. financier who founded J.P. Morgan & Co. bank in 1871, bailed out the government and financial markets not once, but twice.
In the 1890s, following the financial panic of 1893, the U.S. Treasury found itself at risk of going bankrupt as frightened investors sought to get their hands on the gold reserves held by the government. Morgan stepped in and pledged $60-million to $65-million in gold at the behest of President Grover Cleveland – thereby saving the Treasury and likely preventing a financial collapse and rescuing the U.S. dollar.
While Jobs has apparently made no comments about the Washington debt ceiling crisis, the mountain of cash that Apple has in its reserves (in excess of $76-billion) raises speculation of such a historic bailout.
As unlikely as such a scenario might seem, it has actually happened in the past.
John Pierpoint Morgan, the U.S. financier who founded J.P. Morgan & Co. bank in 1871, bailed out the government and financial markets not once, but twice.
In the 1890s, following the financial panic of 1893, the U.S. Treasury found itself at risk of going bankrupt as frightened investors sought to get their hands on the gold reserves held by the government. Morgan stepped in and pledged $60-million to $65-million in gold at the behest of President Grover Cleveland – thereby saving the Treasury and likely preventing a financial collapse and rescuing the U.S. dollar.
The title of this article, and the idea it presents, is absoulutely aburd!!! Yeah, Steven Jobs could bail out the U.S. federal government - maybe for ONE DAY. The way the federal government blows cash, Job's $76 Billion would last about a day, not much more. Jobs bail out the U.S. government??? What a complete joke.
ReplyDeleteIf he can do that, we need to scrap democracy entirely and just appoint him emperor of the US. Clearly the 400 or so idiots combined don't match 1 capable person.
ReplyDeleteAlso it is clear the american public can not be trusted to elect anyone either.
This means everyone should buy Apple stock! They are the best company in the world!!!
ReplyDelete