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Source:
Bill Black: U.S. Using “Really Stupid Strategy” to Hide Bank Losses
Peter Gorenstein
Yahoo TechTicker, Aug 11, 2010
http://finance.yahoo.com/tech-ticker/bill-black-u.s.-using-”really-stupid-strategy”-to-hide-bank-losses-535317.html
Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data, ability to repeat discredited memes, and lack of respect for scientific knowledge. Also, be sure to create straw men and argue against things I have neither said nor even implied. Any irrelevancies you can mention will also be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.
"Overall household indebtedness is up from $7 trillion to almost $10 trillion since 2000. On this sum, we estimate, the American consumer has an annual interest bill of more than $500 billion; a sum, by the way, that vastly exceeds his current income growth." —Kurt Richebacher
Knowing that the vote over the weekend in Greece was really a referendum on Euro membership, a majority of the Greek Parliament said yes to staying. European Finance Ministers meet again on Wednesday to solidify the 2nd bailout package for Greece at the same time hopefully a deal is consummated between Greece and its creditors this week. The Greek 14.5b euro bond that matures on March 20th is up by 2 pts. The optimism that all will be completed and contained AGAIN to Greece has yields lower in Portugal, Spain and Italy. The iTraxx Financial Index is also narrower by...
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August 17th, 2010 at 9:34 pm
I take it this is Old News, fully discounted by the Markets.
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BR: We need a code or symbol for Sarcasm . . .
August 17th, 2010 at 11:26 pm
I thought the original comment was typical American hubris.
The French have a phrase, sometimes done as a simple gesture, that indicates your being “put on”.
Mon oeil!; my eye! The gesture is to take your index finger and pull one of your eyes wide open (from the bottom), as if to say, “do you see it, dummy!” It’s the opposite of a wink, which is too cute for sarcasm.
Sometimes I just add “…” to indicate what was just said is unreal.
Black is so no bullshit.
Let’s see, Bill Black to run the SEC or maybe the Fed?; Elizabeth Warren to run the Consumer Financial Protection Agency and Brooksley Borne to oversee derivatives. That would be a good start to make the Financial bill actually worth something.