Monday, August 17, 2009

A Light At The End Of The Tunnel (It's The Train Of Truth Speeding Toward You!)

Pardon our sloth, we've been totally remiss in covering for NutellaonToast, & now we see brad's living life as well. Into the gap!

17 Aug 2009 12:36 pm

What's Happening at the FDIC?

It's easy to lay blame in hindsight. But a bank doesn't just suddenly and for no apparent reason lose half its assets. Clearly, these banks have been trading while insolvent for quite some time, hoping against hope that everything would somehow turn around. Meanwhile, they poured more of their investor and depositor's assets into pursuing a Hail Mary pass. That's the sort of behavior that I expect from desperate bank presidents, but the very reason that we have bank regulators is to crack down on that sort of thing. Either they don't have enough power, or they were asleep at the switch.

You read it here second. Were the bare facts so convincing she couldn't spin her way out of it, & had to do a 180? (How do those Mini Coopers do in a high-speed U-turn?)

Shorter: "A foolish consistency is the hobgoblin of small minds." Look how big mine is!

1 comment:

Anonymous said...

Megan finally discovers the cause of the banking crisis. It's only been, what, two years?