Article

2010-10-18 Economy

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Posted by Fred 2010-10-18 00:00|| || Front Page|| [1 views ] Top

#1 As long as the big banks don't fail, it's all good.

Posted by Anguper Hupomosing9418 2010-10-18 08:18|| 2010-10-18 08:18|| Front Page Top

#2 Citigroup Reports $2.2 Billion Profit
Not bad for an insolvent enterprise. Citibank is 12% owned by the US Govt. You can bet the bonuses paid will not go to the US Govt. Feel richer, everyone?

Posted by Anguper Hupomosing9418 2010-10-18 08:52|| 2010-10-18 08:52|| Front Page Top

#3 The big banks in deep trouble should have been dealt with early, with gentle, firm, but orderly bust-ups, back when the expression "too big to fail" was being bandied about.

They are to blame for a lot of this speculative nonsense, which smaller institutions had no real part in. Had they been busted up earlier, only shifty hedge funds run by con artists like Madoff, would have been at risk. And if they went belly up, no one would care.

Posted by Anonymoose 2010-10-18 09:31|| 2010-10-18 09:31|| Front Page Top

#4 ...except congresscritters who get campaign donations from them and their Beltway lobbyists brethren.

Posted by Procopius2k 2010-10-18 10:11|| 2010-10-18 10:11|| Front Page Top

#5 NY Times today: Banks Shared Clients Profits, but Not Losses
AKA "What's mine is mine, and what's yours in mine, unless you're a loser."

Posted by Anguper Hupomosing9418 2010-10-18 10:25|| 2010-10-18 10:25|| Front Page Top

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