A.I.M. Users Bulletin Board

[Neil Scott]

American economy,

So how are you folks feeling about the economy over there?
From what I read in the financial papers they seem to feel that a real recovery is a long way off.
They have also pointed out that the Fed has destroyed the 'Moral hazard' theory by rescuing the very people who caused the problems thus giving them more incentive to create more financial problems in the future at a much grander scale as they know the government will not let them fail.
The Aussie banks are feeling the downdraft from Wall Street, despite them saying that they had no links with Sub prime.
That should have been corrected to read no direct links but many many indirect ones.
One of my AIM candidates ANZ Bank got belted when it revealed it has made provisions to cope with losses in a monoline bond insurer, and of course links with over leverages brokerages that have imploded.
Looks like the foundations are crumbling.

Regards

Neil