Financials are trading lower, possibly due to Fed president Dennis Lockhart's earlier comments...


Financials are trading lower, possibly due to Fed president Dennis Lockhart's earlier comments that regulators "can't guarantee" against the failure of individual financial firms, nor have they put a system in place that would allow orderly failures of the largest financial firms without taxpayer rescues: Goldman Sachs (GS -5.4%), Morgan Stanley (MS -6.5%), JP Morgan (JPM -5%), Bank of America (BAC -5.6%), Citigroup (C -5.2%), American International (AIG -4.7%).

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Comments (2)
  • alan.greenscam
    , contributor
    Comments (353) | Send Message
     
    How can they fail?, we've been told they've hired the best, the brightest, the smartest, these CEO'S are the "smartest guys in the room", thats why they get paid the big bucks, get million, billion dollar salaries, perks, out rageous bonuses LOL..... ya might wanna reconsider those $5 dollar @month debit card fees and look in the mirror where the real problem "LIES" LOL....
    7 Oct 2011, 02:06 PM Reply Like
  • Eroc58
    , contributor
    Comments (4) | Send Message
     
    Government involvement in business is almost always detrimental to the taxpayers, banks are no exception. Since government got involved in closing off banks revenue streams by protecting people who get themselves into financial difficulty then cry foul when the banks charge them fees clearly spelled out in the contracts they willing signed they have no choice but to seek revenue from other fees. The very idea that a government which is doing a fine job of bankrupting itself could have any positive effect on controlling bank failures is absolutely ludicrous.
    8 Oct 2011, 10:56 AM Reply Like
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