Dylan Ratingan talks with Karl Denninger about getting money out of Wall Street and that includes lobbying money from Goldman Sachs, campaign money from Goldman Sachs and all the Goldman Sachs multi-millionaire alumni who hold various government positions in order to change the way things are done for the benefit of Goldman and against the interests of the people.
Karl Denninger explains what financialization means here.
From The Daily Bail, we have the following video:
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View the video here
2 COMMENTS:
Banking’s Self Inflicted Wounds
The bottom line is this:
Investors do not really have a clear idea of how healthy any of these
banks truly are. We do not know the state of their balance sheets. We do
not know what their exposures are to mortgages, to Europe, to Greece,
etc. They could all be technically insolvent, as far as any investor can
tell.
And that is exactly how the bankers wanted it.
But given the trouble in Europe, and the likely problems in housing
if the US goes into a recession, Investors have decided they cannot take
the risk of a holding an opaque, possibly under-capitalized probably
over-leveraged financial firm blindly. They are telling the banks no
thanks, we are not interested, we are going to be prudent and we have to
assume the worst. Hence, for the second half of 2011, they have been
selling off their holdings in these opaque, potentially insolvent too
big to succeed entities.
Bankers, enjoy your beds. You made them, now lay in them . . .
http://www.ritholtz.com/blog/2011/10/bankings-self-inflicted-wounds/
Occupy Wall Street Protester End the Fed
http://www.youtube.com/watch?feature=player_embedded&v=rQow0Fhua1A#!
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