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  • These 32 Commercial Banks and Thrifts May See the Dung Hit the Fan [View article]
    If one examines macro indicators of the health of financials, they have never been poorer. Never. Never has such massive intervention been needed to keep them (ostensibly) afloat. Never have they gone to Congress hat-in-hand begging for hundreds of billions of dollars of free money. Never have they lobbied for relaxation of accounting standards so that they can continue to appear solvent. The fundamentals for financials going forward are fricking horrible. Everyone knows that it's darkest before the dawn, but we haven't really gotten to "darkness" yet and dawn is quite a few years away.

    Those among you who are fooled, or are trying to fool us, should join Karen Finestein on CNBC and load up on Citi. As for me, I loaded up on SKF all the way down, after Dick Bove's insane bottom call.
    May 25 08:31 am |Rating: 0 0 |Link to Comment
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