ozcutty2

A Summary of Q1 Bank Earnings: World, You Just Got Hustled

Banks fake results and use pumped up share prices to raise "free" money to pay off government. So we get our Tarp money back and banks can pay their executives fat pay cheques again. Existing shareholders get diluted but are happy the bank is not going to go out of business.

If you think about it, it was a pretty neat trick, and all up its probably a win-win all round.

To me it shows the lengths the US Administration will go to. Maybe thats why Japan was in a banking crisis for a decade, they were too honest or not smart enough to use these tricks!!??!

The question is, what will Q2 look like? do they have any more tricks? Without a good Q2, the banks will drop again. Maybe they can take our some more AIG insurance!