Mbuna

What Else Are the Banks Hiding?

Nonsense! Please tell me why banks have to hide those losses in the first place. Dishonesty and deceit are supposed to be how banks conduct business? Yeah just look at those quarterly reports- we are supposed believe that rubbish? I'm supposed to believe the major banks are forthright? Are you out of your mind? They are HIDING LOSSES. Just listen to what all the CEO's have said about their banks over the course of the last and compare it to what actually happened. Go back over the quarterly reports over the last year- the lies and dishonesty are there for everyone to see vis a vis what has actually transpired since then. You apparently think banks are supposed to be gambling casinos. Las Vegas East, better known as Wall St. needs to be regulated back into reality.


On Mar 26 10:44 PM MattZN wrote:

> The media tends to focus only on the negative aspects of the banks.
> They don't seem to be able to spend even 10 minutes reading a 10-K,
> so most people never hear about the positive aspects., etc.
>
>

Added Debt Won't Rescue the Great American Ponzi Scheme

Amen brother amen! The pain cannot be escaped. You can pay it now or pay it later. Guess which one will hurt more. I feel we are headed for a train wreck but may Grace and wisdom intervene for a more benign scenario.
(I especially liked the graph of deposits in failed banks as a % of nominal GDP.)

Two Fed Graybeards Speak Out

The end effect of all these super banks and acquisitions has at this point in time been shown to effectively benefit corporate executives and financiers ONLY. Fundamentally it is the rich getting richer and they have no intention of letting go easily. The Wall St. psyche has effectively infiltrated the previous and current administrations and that is why no effective action has been taken. Wall St. is extorting trillions of taxpayer dollars with government complicity. Few are willing to recognize the political power that Wall St. has accumulated over the last 8 years but we are seeing in spades right now. They have control of the Fed and the Treasury and I fear it will take a long time to purify the delusion that what is best for Wall St. is best for the country.