Banks would be dead even without subprime mortgages? Positive action lending and similar reckless lending already got they lending anyhow?
This rally was expected and its a great shorting opp in the coming weeks. In the skeme of things the pain has just begun
This is the biggest suckers rally since 1929. Although in % terms, this is nothing compared to how far we drop'd. Russia, China are all talking about dumping the dollar as the key global currency and replacing it.. This is a serious move by Russia and China in "Threats" to the US. 1 Trillion was printed this past weekend. And the clowns on Obama's team do not believe we will enter an inflationary problem after we bottom out on the 'Deflationary" current situation. The Major Banks are insolvent. PERIOD! I would'nt keep any dollars in the US banks, only local and regional. FDIC borrowed billions last month, or just a few weeks ago. They said they were perfectly fine, just wanted to make sure they were ready. Ready for what? The writting is on the wall. Socialism vrs. the total destruction of our current "Capitalist" system in order to rebuild a more sound republic with Capitalism returning to "Goods", Services and Manufacturing. The comon idiots in this country will choose socialism. The rich will still make more money, the Middle Class will be destroyed and the Haves will rule the Have nots. End of story. So you better choose your side and set your goals for Wealth Preservation (If you have wealth) and Wealth building if you are not yet in a secured state. Good luck.