[TigerLikesRooster]

Ping!

[Psycho_Bunny]

For they have sown the wind..........

[kcm.org]

bttt

[arderkrag]

Poor babies...

[preacher]

A billion here, a billion there, pretty soon you’re talking about real money.

[Travis McGee]

“Several brokerage houses tumbled; blue-sky investment companies formed during the happy bull market days went to smash, disclosing miserable tales of rascality; over a thousand banks caved in during 1930, as a result of marking down both of real estate and of securities; and in December occurred the largest bank failure in American financial history, the fall of the ill-named Bank of the United States in New York.” ~~"Only Yesterday: An Informal History of the 1920’s" by Fredrick Lewis Allen

"There is no means of avoiding the final collapse of a boom brought about by credit expansion. The alternative is only whether the crisis should come sooner as a result of a voluntary abandonment of further credit expansion, or later as a final and total catastrophe of the currency system involved."~~Ludwig von Mises

[ex-Texan]

Notice how Wall Street giants are slowly peeling away the rotten onion ______________?

Next quarter they will find another $ 5 billion. Then in the next quarter they will recompute and restate losses again under some esoteric accounting rules. Then in 2009 they will wake up to reality (after the economic numbers come in). Somebody will be urging the bank to write everything off and get it over with. So then they will declare about 50% of it all at once.

Hoping against hope they can hide the other 50% of toxic trouble for another three years.

[WilliamofCarmichael]

Praise American capitalism's "socialize the risks, privatize the rewards" and pass the bailouts, please.

I remember CEO of Chrysler Lee Iacocca taking one dollar a year salary until Chrysler's problems were fixed.

Glad to see Wall Street CEOs doing the same.

Wot?

"They're not."

They're Not?

"They're not."

Oh. Never mind.

[Proud_USA_Republican]

Hey, I got a great idea. Why don’t we put up billions to originate loans requiring no documentation or collateral. Well give them to illegal immigrants too.
But don’t worry. We will make sure we spread the risk around so everything will be ok, but lets make sure we keep a lot these loans in house as an investment.
Is there incentive to care about the risk? Why should I care about such things. I still keep all my bonus and severance money if I get pushed out.

[nkycincinnatikid]

They are actually discovering money gone in excess of the 100 billion $ in bonuses they siphoned off over the last three years. Time to start checking their lunch pails.

[AFreeBird]

Always hated Citibank.

When they bought up the Sears card, I canceled it.