It’s Time to Pull the Plug on the Banks

The news for Bank of America and Citibank  today is grim. Their stock values are tanking, investors have lost confidence, and many fear nationalization.  I guess they think that nationalization would cause them to lose all of the value of their investments in these banks. Wait a minute. In the last five years Bank of [...]

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Psst! Wanna Buy a Toxic Mortgage Really Cheap?

OK, so Treasury Secretary Geithner has revealed his plan to save us from the toxicity of the banks.  Sort of anyway.  He was a little short on details, but he seems to have a vague, multi-pronged, approach that has, more or less, scared the Hell out of Wall Street.  One of the ideas that doesn’t [...]

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U.S. Government Rescues Wall Street, Taxpayers Poisoned

Messrs. Paulson and Bernanke peered into their crystal ball late in the dimming day and, instead of seeing the tidy balance sheet of the U.S. Financial Market they had hoped for, they instead saw a frightening vision of certain doom.  Huge quantities of Old Wall Street Wealth were going up in flames. Distinguished banks, with [...]

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