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Are we due For "Black" Monday?
The Capon Senator from New York squawked and ruined a bank, will there be more?
Senator Schumer should be held accountable for some of the disaster. http://www.latimes.com/business/la-f...,6071779.story What are you doing to protect your assets? Scott S |
A bank's worst nightmare is that someone who is in a high position in the government comes out publicly with a statement such as did Schumer. The bank did not go down due to capital problems, although it was struggling to preserve capital, it went down due to a run on the bank with close to $2 billion withdrawn in the 11 days following the public leaking of the Schumer letter. No bank will be safe if politicians get involved.
As an aside (sort of), Schumer runs the Senate effort to elect more democrats - he's received millions from all the big NY bank's to support that effort - IndyMac is in Pasadena and gave no funds to Schumer.....so, follow the money? |
All agreed except a main point CdC...the letter was not 'leaked'..it was distributed intentionally by Schumer.
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BTW, you do realize that Black Monday is a racist term. Right up there with, say, Black Hole.
Be ya real carefull now, ya hear? Mike BTW, did you all know nitty gritty is a racist term? All those CDs are doomed. Sorry Scott, did not mean to hijack... no one may post a reply to my excursion. Gonna go play a game of Black Jack with my friends.... doh! did it again. Schumer is an A Hole (thats not racist) |
One more thing. I have red assets and black assets. My black assets are doing fine.
Mike (doh!) |
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