mangum

Citi Needs Up to $10 Billion in New Capital

Headline: "Citi Needs Up to $10 Billion in New Capital"

1st paragraph from WSJ: "Citigroup Inc. may need to raise as much as $10 billion...."

Anybody besides me see any difference between these two statements?

I guarantee you that nearly no one "educated" in this country over the last 20-30 years will see the difference. And that's just plain scary.

Why Bank Nationalization Will Never Happen

This is an encouraging article until one encounters this extremely foolhardy attempt at humor: "Granted, he [Buffett] is getting a juicy yield for biding his time and having more money than God."

Ah, not really. The truth is that God can buy and sell the entire world economy a trillion times with no more than His pocket change. Buffett's wealth, on the other hand, is no larger to God than a single mote of a dollar bill shredded so finely it would take an electron microscope to have the ghost of a chance to distinguish the individual bits.

The scariest thing of all is what lengths God will apparently have to go to in order to properly whittle the U S A down to size. The process is already underway.