AndrewBaker

Wall Street Breakfast: Must-Know News

Splitting the banks is a good idea.

Is it in the blood of people who go to work in a bank to be greedy and thoughtless towards others who do more productive work but rely on funding to get things and keep things going?

If so, then we need the banks split up between the gambling element which can go to the wall and take their own money and jobs with such when it happens, and the responsible money lending element where rules prevent greed through too high rates and margins, and gambling by lending without due diligence.

If enough people pressure for change, it can happen, but only if you've got a government peopled by those with the desire to benefit all, not just the plutocrats and oligarchs.

Wall Street Breakfast: Must-Know News

The spin machine spins on: employment, housing et all still getting worse, but all's right with the rescue plan, bail-out and other plans to make things better. Forget the real situation, just listen to us.

Funny how China doesn't hear much: as doubleguns above said, they are spending their dollars whilst they still have any value. Lesson for us there, maybe?

Wall Street Breakfast: Must-Know News

Truth is, no-one knows how we're doing. The IMF is predicting big losses ahead and the need for nationalization of banks and financials in certain situations, yet Geithner says the banks have enough money. Mortgage loans are supposedly on the up, but more people are losing their homes. Will we have a viable auto industry going forward? People are not spending so much, showing they feel poorer and everyone agrees jobs are being lost; so where are these green shoots we keep hearing about from various commentators? Until we get some real meaningful financial numbers, the yo-yo of the markets caused by not being able to make up their minds whether to go down or up, will continue.