Seen on the street in Kyiv.

Words of Advice:

"If Something Seems To Be Too Good To Be True, It's Best To Shoot It, Just In Case." -- Fiona Glenanne

“The Mob takes the Fifth. If you’re innocent, why are you taking the Fifth Amendment?” -- The TOFF *

"Foreign Relations Boil Down to Two Things: Talking With People or Killing Them." -- Unknown

“Speed is a poor substitute for accuracy.” -- Real, no-shit, fortune from a fortune cookie

"If you believe that you are talking to G-d, you can justify anything.” — my Dad

"Colt .45s; putting bad guys in the ground since 1873." -- Unknown

"Stay Strapped or Get Clapped." -- probably not Mr. Rogers

"The Dildo of Karma rarely comes lubed." -- Unknown

"Eck!" -- George the Cat

* "TOFF" = Treasonous Orange Fat Fuck, A/K/A Dolt-45,
A/K/A Commandante (or Cadet) Bone Spurs,
A/K/A El Caudillo de Mar-a-Lago, A/K/A the Asset., A/K/A P01135809

Tuesday, March 10, 2009

Underwater Like a Sunken U-Boat

America's five largest banks, which already have received $145 billion in taxpayer bailout dollars, still face potentially catastrophic losses from exotic investments if economic conditions substantially worsen, their latest financial reports show.

Citibank, Bank of America, HSBC Bank USA, Wells Fargo Bank and J.P. Morgan Chase reported that their "current" net loss risks from derivatives — insurance-like bets tied to a loan or other underlying asset — surged to $587 billion as of Dec. 31.
I ought to stop reading shit like this, for there is really not a damned thing I can do about it. It's just depressing as all hell.

Which gets me back to this point: If these banks are "too big to fail," are they also too big to be allowed to exist?

2 comments:

Marc said...

That is a question I've been wondering. May as well just take 'em over - they're going to drag out the reports of how much shit they own that is worth, well shit, and continue to dribble out the 'news' that what is written in the books as to its 'value' is pure fiction. Cauterize or put a tourniquet at the source of massive bleeding, then we can start working on rehabbing the patient.

Anonymous said...
This comment has been removed by a blog administrator.