When is this going to stop??
From Reuters today:
"The U.S. financial system still needs at least $1 trillion to $1.2 trillion of tangible common equity to restore confidence and improve liquidity in the credit markets, Friedman Billings Ramsey analyst Paul Miller said...The bulk of the capital will have to come from the U.S. government, Miller said. The government needs to take the initial steps to begin the process, and private capital and earnings can finish the job. "The quicker the government acts, the sooner the financial system can work through its current problems and begin to supply credit again to the economy," he said." FULL STORY
Nearly $2 trillion of taxpayer has already been sunk into failing companies, and now another trillion?
This is absolute madness!
2 comments:
Doc,
I hate it too. I am uncertain what the alternative is. The interconnectedness of markets gives new meaning to the phrase, "When the United States sneezes, the world catches a cold."
Now it's more like "The United Staes caught the flu and th eworld is in ICU."
TLGK
And The OPEC Oil Cartel is Immune, so...Christianity & Secularism will just slowly fade away. Have you picked out a nice color for your prayer rug, Loop? reb
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