Friday, September 04, 2009

manufactured crisis

Banking Crisis???
I guess that depends on what you call a crisis.
I found that little goodie at IBD Editorials.com, where I seem to find a lot of good things.
9/04/2009 09:51:00 PM 3 Comments

"If the number of Islamic terror attacks continues at the current rate, candlelight vigils will soon be the number-one cause of global warming. "
Argus Hamilton


Posted by at
Labels:

This will be the comment box

3 comments:

Anonymous said...

2010 and 2011 ARM resets haven't arrived yet, nor derivative counterparty defaults. Many home mortgages are legally in default and upside down, but I suspect banks haven't been zealous in foreclosing because foreclosing will reveal the real diminished value of the homes and cause a huge loss of bank assets on their books. We ain't seen nothing yet.
Buying copper and lead bullion here, King.
Lt. Col. Gen. Tailgunner dick

9/4/09, 11:03 PM
rickn8or said...

Roger that, Tailgunner; the new precious metals are gonna be copper, lead and brass...

9/5/09, 2:22 AM
Anonymous said...

One thing to remember about the S&L mess: it was bad and the federal government made it worse.

90% of junk bonds were high preforming assets. Instead of telling the S&Ls to stop buying more or limit their their exposure, the feds required the S&Ls to dump them all at the same time. People made a lot of money buying this paper for dimes on the dollar while the S&Ls crashed as they were forced to become under-capitalized despite have decent assets.

There is no situation that they feds can't make worse while affording a money making opportunity for their friends.

Laurence

9/5/09, 2:38 AM

Post a Comment

Post a Comment

Just type your name and post as anonymous if you don't have a Blogger profile.

Subscribe to: Post Comments (Atom)