Soaring, rising, sopping, sparking, stabilizing, rebounding, thawing - its all the rhetoric of the recession and its newest bad boy, Geithner.
How to make friends and keep them - throw billions at their own greedy mistakes. Oh and send them cupcakes filled with gold. After all this is still what this is all about. It was the banking system that decided to give unending credit to anyone with a pulse or in some cases without, in order to surf the housing bubble ad infinitum. Except the bubble decided to burst splattering everyone in the world with asset acid.
Now be happy the DOW got a shot of super growth hormone today, you ingrate. Its the banking system on steroids.
Reuters: Nikkei gains 1.5 percent on U.S. bank plan
2 comments:
The price of drugs ( $$) to keep these boyz happy is what scares me. No good can come of it. They'll just feel emboldened, if u know what I mean? My guess is that they'll just double down and we'll have to pick up the chips for them again down the road.
I think credit probably needs to loosen up so that regular business can resume. I was reading how car dealers can't get loans to stock cars on their lots. on the other hand sales are down, but that could change. The problem is they start creating their schemes like variable rate mortgages etc etc. There probably needs to be tougher regulations. The thing is as soon as the regulations are in place, they higher Harvard MBAs to start cooking up ways to circumvent the rules, to find loopholes. This is capitalism. We're stuck with it until everyone in the world stops thinking opportunistically at someone else's expense - not going to happen. When it works evenly with a normal amount of profit its fine, but when the idea is to amass enormous wealth at everyone's expense its not so good. Personally I tink that if a bank cooked up a ponzi scheme and now they are failing, let them fail, good riddance. Don't throw our money at them. Nobody throws us a lifeline.
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