sleepless_on_wall_street

Turning Japanese: The Audacity of Reality (Part 3 of 3)

James Quinn,

As usual, an excellent article filled with relevant data.

I would pick one factor as most important for the Japanese malaise: failure to clean out insolvent banks. Those banks sucked up monetary liquidity for over a decade and the after effects still persist today. This Japanese failure was widely criticized by economists and U.S. government officials throughout the 90's. With some of the same economic policy makers returned to Washington with Obama, we will not make the same mistake, right? So far, wrong, wrong, wrong. Paulsen and company started a process to "save the financial system" by saving the banks. Obama's team seems committed to following the same path.

STOP!!!!!

We can not save the forest by saving the dead trees. These are just fuel for the forest fire that will destroy the entire forest. CLEAN OUT THE DEADWOOD!!!!

I fear a problem is that the policy makers confuse saving their friends at C, BAC, AIG, etc. with saving the U.S.A.

Mr. Quinn, you are doing a great job. Thanks.

Finally, Some Disclosure from Companies That Received Bailout Funds

I should know:

You are right about the blah, blah, blah. However the article is very entertaining and this is Christmas, the time when we need a little entertainment befor we waken to grim reality tomorrow morning.
I appreciate Mr. McDuffy's efforts here.