“The financial crisis is over,” quips Rosecliff Capital’s Michael Murphy in...

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RAP77 Comments (267)
 
"The financial crisis is over."

Right! Everything is fixed especially since the fed has
given unlimited loan guarantees to the big banks who
caused the crisis (in addition to the secret $1.2-2 trillion
that was handed to them in 09-10).

So I guess that means banks still aren't responsible for
their actions. No matter what happens, they will get bailed
out.

Is this the new meaning of Free Markets?

It's fundamentally different from the Savings and Loan
crisis of the 1980s. After that crisis was over, there were
no Savings and Loans, and certain instigators were in jail.

We've come a long way.
17 Apr 2012, 08:35 PM Reply Like

Angel Martin Comments (1201)
 
the last bear capitulates... time to sell !
17 Apr 2012, 08:46 PM Reply Like

Ted Bear Comments (437)
 
IF Citi were to mark their portfolio to market, they'd be gone.

Instead, they pretend to have 'operating earnings' and just ignore the balance sheet side of the equation.

Is it any wonder that the 'analysts' say these things are 'cheap relative to book value, whatever THAT is'.?

We're in the race to the bottom. Do the banks run out of pretend earnings, or does Washington's printing press run out of ink?

Hank Paulson must be laughing all the way to the lounge chair. And still nobody dares accuse him of being one of this Country's greatest traitors fir what he did to the people.

And they probably never will as long as Goldman Sachs is in power.
17 Apr 2012, 08:56 PM Reply Like

Bill S. Friend Comments (711)
 
Amen to that! Hank Paulson deserves recognition for his role defrauding the American people in the biggest scam in history! It's hard to believe that such a bumbling fool could have perpetrated such a massive heist, handed the money off to his Wall Street compatriots, all with an immunity clause!
17 Apr 2012, 09:10 PM Reply Like

JB1982 Comments (100)
 
Erm, bailout money to the banks has been highly profitable for the US Treasury.

I don't like TBTF - failure is an important part of capitalism. But calling it a heist or a giveaway is factually incorrect.
17 Apr 2012, 10:25 PM Reply Like

Poor Texan Comments (3499)
 
JB

I think the bone that sticks in the throat for many is the compensation packages paid during the bailout. What seems like an undeserved reward is beyond some people's understanding.
17 Apr 2012, 10:54 PM Reply Like

JB1982 Comments (100)
 
Yeah, that's a fair point. Wasn't the 'pay Czar' supposed to take care of that?
18 Apr 2012, 12:39 AM Reply Like

Bill S. Friend Comments (711)
 
The sense of entitlement due to some superior genetics, IQ, or Ivy league diploma is nauseating. Wall Street insiders are cashing checks the average American wouldn't make in a lifetime, due to the worlds economy being brought to the brink by their greed and malfeasance, all the while maintaining they deserve it like the impetuous spoiled brats their parents raised them be. Branded as perma-bears, Patriots hold out hope of failure of this system so that men of courage, integrity, and vision can once again restore the "Shining city on the Hill" Reagan spoke of to it's former glory! "In God We Trust" has been replaced with "Increased Return to the Shareholder"
20 Apr 2012, 10:24 PM Reply Like

streetcrawler Comment (1)
 
It's too bad GM can't make cars out of thin air, they might be doing as well as the banks that got bailouts.
18 Apr 2012, 01:03 AM Reply Like

Charles Moscoe Comments (183)
 
Given Meridith Whitney's poor track record on rating financial stocks, you would think that the financial crisis is about to take a turn for the worse.
18 Apr 2012, 01:05 AM Reply Like

mebarrett2 Comments (57)
 
I thought the citi, boa etc paid back their TARP with profits to USG. Maybe they should never have been bailed out, but seems to me they have stepped up and tried to make things right.
18 Apr 2012, 03:06 PM Reply Like