How toxic are our banks???


by problembear

“it’s going to get a lot worse before it gets better.” with those words president obama warned us a few weeks ago to not get too hopeful about how soon things will get better. toxic assets are working their way through the pipelines of a very weakened economy and they do not just threaten insolvency for the largest banks in america, they pretty much guarantee it. if you want the straight scoop on this without all the political fluff and stuff just take a listen to this. heard it last night and it really makes sense out of the myriad of problems facing america right now and in the future. in a weird way it made me feel better.


  1. Lizard

    problembear, I’m not sure how to make sense of the picture in regard to the post. are you trying to say that because war is so expensive, Obama’s proposed escalation of the AfPak theatre, in the midst of this fiscal meltdown, is dangerously irresponsible? or is that a picture of one of the soldiers currently deployed on american soil in conflict with the Posse Comitatus Act?

  2. Lizard

    okay, a little less extreme: this is an interesting read.

  3. klemz

    I just heard from my pops in Chicago that some banks in the midwest — US Bank and Twin Cities Federal, mainly — are giving back their TARP funds. A large portion of the bailout went toward banks not in crisis so that they could buy out the foundering ones. With the executive payroll caps and all the guff they’ve gotten over annual junkets some of the executives are saying screw it and trying to return the government’s capital.

    Interesting situation.

  4. Lizard

    Michael Hudson gives this account of the mess we’re in on Guns and Butter. It’s really, really good. Michael Hudson has been very exhaustive in assessing this growing catastrophe. Well worth the hour run time.

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