ralph schauss

BofA's State of Denial

This whole stress- test business, under the leadership of the FED and the Treasury, is being played out in public like in a banana republic. The leaks to the press, by design or ineptitude, are truly flabbergasting. Last Monday 27th of April, there is a deliberate leak thru the WSJ to undermine Ken Lewis for WED 29th - pathetic ! Then estimates range from zero, to 60 to 70 to 100 billion and then back to USD 10 billion in new capital for BAC - all this being watched under the trustworthy eyes of the FED and the Treasury with no comment, no stop to a constant rampage of rumours . Here we are told by the Grandees of the FED and the Treasury , this is a highly serious, respectable and very confidential matter. But every new day there is a new leak, one day the Rupert Murdoch's WSJ, then the FT in London, then the NY Times - all this depicts a highly shambolic and chaotic management by the official Great and Good in Washington. Truly amazing, truly shocking for the the credibility of our public finance leaders. Sayonara to trust, credibility, and integrity

Why do Ben and Tim not award a campaign medal of honour to Kern Lewis for having dsaved the US financial system from total collapse by gracefully doing the salvage of ML and C wide without holding a gun to the Fed's Chair ???

Greetings from London UK by Ralph Schauss-
even the FSA, the Treasury and BoE are dioing a better publich information act which is not plyaed out in the SUN , UK's leading rag sheet.