================= Lu; Agree with T Jefferson, he didnt care much for big banks also. But when you have finance mis-managers like Countrywide[the lawsuit king perhaps, not a compliment] & Citigroup trying to blame game shortsellers. Then they[ C & GM..... ] should be highly /highly /tightly/severely regulated; & should be publicly rebuked for trying to ''waste'' 50million dollars on corp jet. With all the huge FED/federal money Citi got; I am thinking they should be much more severely regulated so much as to discourage that whole process. And we need to find a way to fairly reward the auto companys & country/community banks that got it right.
http://online.wsj.com/article/SB123387976335254731.html Where is the risk management or is it just going all in and averaging down with OPM? Yeah works great when all dips can be bought by these dipshits but not so much when they have a real market to deal with. These are the people who cause the adage the market can be irrational longer than you can remain solvent to be true. They just make one way bets with little or know understanding of concern for what is going on in the real economy and because their credit was heretofore virtually unlimited they kept betting and betting until the the principle of reflexivity kicked in and kicked EVERYONE ELSE in the balls. Meanwhile these guys keep their $40m, and their $18.5 Billion in bonuses for having dragged the system down with their greed and lack of foresight and grossly negligent lack of risk management.