Skeptical Ben

Bank Stocks Will Return to Prior Norms

I wouldn't believe this, except why would we expect different behavior from the banks since they have no negative recourse if they're wrong AGAIN. Too big to fail, too stupid to succeed.


On Mar 25 07:20 PM Misha wrote:

> Some of you may have noticed that Citi and BAC are buying MORE toxic
> assets:
>
> www.marketwatch.com/ne...={79b2b74f-6175-47b3-9...247wallst.com/2009/03/.../
>
>
> BAC: "Our purchases in [mortgage-backed securities] increase liquidity
> in the mortgage market allowing people to buy a home." Give me a
> break! The only reason anyone would buy those assets is if they believed
> that they are undervalued in the marketplace. And on their balance
> sheets…
>