Mbuna

BofA Following Citigroup to $5 or Lower

Most people on Wall St. need their head examined, period. It is a fantasy life and most of the columnists here on Seeking make their living off of that fantasy. Reality is right in front of you and doesn't even take any research. Here is part of a comment I posted in July (yes you can look it up to verify) 2008 to-
The Great GSE Meltdown: Market Adding Fuel to Fire?
"This will totally impair the ability for Citigroup (C), Merrill Lynch (MER), and Lehman Brothers (LEH) to raise capital." These 3 companies were clearly insolvent 6 months ago IMO as a result of the gathering of the perfect financial storm which has cut off any possible escape route. The only drama playing out now is how long they can artfully hide their insolvency. Everyone is in over their heads and Bernanke and Paulson can do little more than put bandaids on to try to protect the interests of their constituents. (end of excerpt)

So here we are 6 months later and what happened? Rocket science? Nope just some common practical sense. And yes even after billions of rescue dollars those banks are STILL insolvent, the ones left anyway. One final clue that I have made before- What makes you think that a monetary system contrived nearly 100 years ago can just continue to work off into the unlimited future? The answer is that it CANNOT work indefinitely. Who will start thinking outside the box?