Here is another link to the story...
http://www.fxstreet.com/fundamental/market-view/us-crisis/2011/11/29/02/
Tomorrow will be a bloodbath.
saw this as a flash on Drudge a few minutes ago. Any idea what the immediate repercussions will be?
and that’s even before election season gets into full swing with politicians wailing away on them
What are the names of the 37 banks? I’m having difficulty finding out where to look.
trying to figure out the bad guys here.
the rating services picking winners and losers or the banks.
It should never be difficult to prosecute corruption and an incompetent thief.
The banksters should have been bankrupted and the shareholders and bondholders taking the major hit. Instead Obama and his Federal Reserve and NYC Wall St shills like Geithner and his pal Barney made them and their campaign donor executives more than whole and allowed them to retain all ill-gotten gains, while we average taxpayers took the major hit.
I support and encourage public trials and hangings for political and financial corruption regardless of Party.
The only thing that investors and the public know about the banksters is that we know nothing about their real holdings. Their pals in the Fed Reserve allowed them to hold fantasy and whims rather than reality. They ripped us off and we will pay the price for decades.
The one to watch, in particular, is B of A. It has been hovering in the low fives and if it dips below five and stays down, a lot of institutional investors and mutual funds will have to sell it.
Interesting comments on this thread.
My gut tells me this is a very positive signal for banks. Quick, somebody get Paulson in here, we need to give taxpayer money away ASAP!