Posted on 03/18/2013 11:21:46 AM PDT by Kartographer
In fact, U.S. stocks might be solidly in the green now if it weren’t for another development that bears watching: Weakness in financials.
Monday's slide is also being attributed to Cyprus, which has revived fears of "contagion" emanating from Europe and the related counterparty risk faced by banks. But bank stocks were under pressure before the Cyprus "bail in" hit the headlines.
Starting late Thursday, the financials had a really bad weekend when a Senate report found JPMorgan had misled regulators (and investors) in its disclosures surrounding the now infamous London Whale trade.
(Excerpt) Read more at finance.yahoo.com ...
Why the Cyprus Bail In Is a Bigger Deal Than You Think
http://finance.yahoo.com/blogs/daily-ticker/why-cyprus-bail-bigger-deal-think-141844378.html
I’ve lost count of how many times something like this has happened while a (financial IT) proposal of mine is being reviewed...
With banks having to cough up protection money to the federal government, it’s dicey to have to run a bank not knowing what regulations are being written in the notorious Dodd-Frank debacle.
There is nothing ‘suddenly’ about it- they knew, and as good Obamabots they went along with the illusion that things were OK
If bad news in Cyprus is hurting markets in the US, there’s something wrong.
When somebody sneezes, everybody catches cold.
Why the Cyprus Bail In Is a Bigger Deal Than You Think
http://finance.yahoo.com/blogs/daily-ticker/why-cyprus-bail-bigger-deal-think-141844378.html
I’ll tell you why it’s a bigger deal than anyone thinks.
Russia will bail out Cyprus, in order to gain a Navy Base there. That flips the whole security situation in Europe and the Middle East on its very head.
The Marxists can prop up the illusion of “everything’s alright” for only just so long. When the real unraveling begins, not even their “ministry in information” will be able to cover for them.
I just read that. I agree it’s a big deal, and there’s something wrong with that.
I think a too-big-to-succeed tax should be imposed on our largest banks. For example, a tax of 1.0% on bank assets that exceed one billion dollars would give our largest banks a financial reason to “shrink”.
And then, I think we need to slowly raise the tax rate while reducing the amount of assets exempted from that tax.
This would reduce the risk to our taxpayers while allowing the bankers themselves to decide what types of business they need to cut.
Or China will bail them.
I think Russia has been orchestrating this for years.
Not U.S. banks. More disinformation.
Russia already has once. The loaned them 2.5 billion I think.
Lehman ... Bear-Stearns ... M.F. Global ... tick ... tick ... tick ...
ben burnandyankme at the FED poured over EIGHT TRILLION of our future tax dollars into EU banks over the past 5 years... the first ever audit of the Federal Reserve found this out. THAT is just part of what is “wrong”.
LLS
You are right....that is the sickening part. I see a revolt coming. How much longer are we gonna take this?
And the US cannot recover after bailing the Euro banks out. Too much of a financial hit. Just not possible. That is why the feds are buying guns, not butter.
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