Monday, May 17, 2010

A Perfect Quarter

A perfect quarter, in this case, doesn't pertain to a well played basketball or football quarter but rather to the unprecedented success of the big banks doing business on Wall Street...

This does not happen in the real world save for government greasing of the wheels to enable this miracle to occur. To get in depth analysis of this swindle of swindles perpetrated on the world, check out Washington's Blog's excellent take on on how greed, combined with government collusion, has destroyed the financial base of this once great nation. 
Note: The four banks have over $100 + trillion dollars in toxic assets (derivatives ET AL) , an amount of "money"  almost twice the size of the world's economy ($56 trillion).
Note II: They don't have to declare these "assets" as losses. See A Telling Statement or type in Finance to learn why.

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