dougnhi

Jump in Merrill’s Level III Assets Points to Continued Risk

These companies are insolvent. Everyone knows this, and Bernanke isn't really fooling anyone by all the games and tricks to allow hiding this information. In any other corporate setting, this would be criminal and people would go to jail. Funny, when you're a banker with friends in high places, the rules that apply to everyone else don't apply to you. The last laugh will be on those who have been buying into this sucker rally in financials....Wave 3 is just around the corner. My hope is that the speculators will get the lesson they desperately need so that moral hazard can be put back in the bottle and we can get back to something resembling a "fair" market; not one that's dominated by manipulation and outright fraud. If Bernanke thinks he's a "depression" genius, I retort that look at how the world now views Greenspan (contempt). Bernanke will fare even worse after this whole alphabet soup mess he's created to monetize the bad bank debts and debauch the dollar. Is he kidding? Oil's at $122, and all commodities smell INFLATION! This guy's got to go.