Posted on 09/14/2009 4:11:08 AM PDT by Scanian
President Obama is speaking tonight, apparently to assure us all that his administration has the financial crisis resolved. Don’t bet on it. To see why, let me take you back a couple of years.
In the fall of 2007, facing billions in losses on Merrill Lynch’s holdings of toxic assets, then-CEO Stan O’Neal approached his board at least twice to sell Merrill or merge it with a major bank — and at least twice got rejected.
Merrill was bleeding, he warned, and might not survive the huge losses on its balance sheet. The board’s response: No way.
The firm would be selling out cheaply, was the general consensus. Key board members believed that, if all else failed, Merrill would survive because the government wouldn’t let it die.
(Excerpt) Read more at nypost.com ...
Obama is speaking tonight, apparently to assure us all that his administration has the financial crisis resolved.
Whoever Obama’s gag writers are they must be paid very well.
It's the...Teleprompters' Fault!
And anytime the government decides to start blowing steam about how “It’s not so bad...”, then that usually means it’s far worse than we thought!
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We are not hearing about this one because there is not an ELECTION in 6 months that they need something to blame on the Republicans
I cheered up and sure enough they got worse.
Wish it would hurry. The only way to stop these Commies is if they have no money.
Thought it was this afternoon !
He’s going to give us a “mission accomplished” moment.
Unless it’s because so many conservatives were away at tea parties, Hussein’s Rasmussen numbers have gone steadily up over the last few days.
People believe his jive. I don’t get it at all but it’s a fact. People fall for him by the millions.
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