AndrewBaker

Wall Street Breakfast: Must-Know News

More talk about how to regulate, but not enough about how we can pick up the economy. Big committees paid for with tax dollars may be able to create a lot of fake jobs, but they won't create one new widget or anything else that will help turn things around. If regulation made for economic success, we'd never have got into the mess we are in in the first place.

Smart talk has moved the markets up too high: now watch reality kick in, and see how in October the false "recovery" gets seen for what it is, and watch the markets fall back. And this is what we need, genuine pricing in the markets, before any real recovery can begin.

Wall Street Breakfast: Must-Know News

We all know that financial and banking reform is needed, and all are waiting to find out what it will be, but all we get is hot air and nebulous comment and speeches. Bankers are being spoken with to get things going, yet at the same time bankers are scared to travel for fear of being detained. I can see it now: Politician: "Excuse me, are you a banker? ... Yes ... Good, here is $1,000,000 I printed yesterday. Use it to save the financial system and don't take too much in pay and bonuses. There will be more soon when we get a few investors to buy your bad assets for top dollar. Got to go now and tell the people I'm doing stuff that will save the world from financial ruin. Oh, before I forget: we've ramped your stock up a few bucks recently, so don't forget that when you're telling everyone who you couldn't do it without, and move my money back Stateside before your foreign based pals hand out any lists."