M dub

Here's What's Wrong with the Banking Sector

Good, except they killed the stream of customers by feeding them with radioactive hot dogs.

Or, if you will, i'd compare it to the Chinese milk that was pumped with melamine, which was good for the company and its profits but killed (literally) its customers. The powdered milk market was no bubble industry, but when you murder your customers it sure looks like one afterwards.

Now we all know what was happening to regulatory capital and accounting equity and all the of balance sheet CDO's and the funny money games and "models" where past performance apparently guarantees future results......... since banks want fees and haven't desired the low returning bore called lending for while, they leveraged themselves to the hilt with "fee" (wink wink) income, and that indeed was a bubble.

Overconfidence at its worst, especially after how we shrugged of 9-11 without a bruise.

But if they weren't feeding poison to their customers for four years like a tube-fed goose being fattened for foie-gras i'm not sure we would have ended up exactly all the way down here in economic hell, so far so fast.