Elliott

Wall Street Breakfast: Must-Know News

I think Obama should have

- Nationalized the banks
- Fire the CEO's and the BOD's
- Prosecute bank executives who had a big hand in SIV's, CDO's, bad mortgage paper, etc., for fraud and racketeering
- Sell off the assets
- Provide seed money for new private-sector banks to take their place


On Mar 31 09:23 AM axelrod608 wrote:

> But what galls me most is the way our leaders are funneling massive
> amounts of taxpayer money into the financial sector with little or
> no concessions required - the fat cats and employees who trashed
> their companies get to keep their jobs with full pay - while the
> automakers - people who actually MAKE SOMETHING OF VALUE - are faced
> with loss of pay and benefits.

U.S. Banks Still Need To Come Clean on Subprime

Quote from article: "Aside from $2.5Bn worth of people being dumb enough to give their real cash to a virtual bank"

Please -- that's so 1997. How is an internet bank any more or less safe than a brick and mortar bank except one has tellers and windows and the other doesn't? Safety in a bank comes from loan practices, reserves, etc., not how the transactions are handled. For example, Bank of Internet USA and Bank of America are both rated 3 stars at Bankrate.com for safety.