I'm becoming more convinced every day now that the reason all these moves don't get any traction with the banks...ie they won't lend to each other even after ALL THIS STUFF THAT'S BEEN DONE...is that they DO KNOW the value of these "bad assets" on their balance sheets and the true leverage multiples that've been used. They KNOW that a wimpy $1 Trillion bailout won't even touch the problem.
And... the hedge funds know the true value and amount of the credit default swaps that are out there. That's why THEY KEEP SELLING as fast as they can no matter what level the market drops to.
I think we can kiss ALL THAT $700 BILLION adios, along with the next several trillion they'll surely throw at it.
Ironically...as of today the hedgies are now again able to short into the very drop they're now creating and they'll once again come out of this smelling like roses...with ALL THAT MONEY now in their greedy little mitts.
McBUSHIE'S choice of Palin was irresponsible, dangerous and insulting to America's intelligence. That choice and his continuing smears/lies prove he'll do anything to win this election even to the point of endangering his own country.DEFEAT HIM!
