Several quick points that are apparent to me while watching this.
1) THe system is extremely fragile. Sure I already knew this, but its a bit different to see Geithner repeatedly drive the point home under oath. Also, his testimony would appear to support that a lot of financials are feeling the squeeze and need for quick profits...can you say snowball?
2) Bear supposedly had a $10 billion drop in their liquid capital pool in one day. Not sure I'm buying it, but if so, how the "F" does that happen? Thats a freaking run...
3) Looks like there may be an investigation of large scale naked short selling forthcoming.
2 comments:
Several quick points that are apparent to me while watching this.
1) THe system is extremely fragile. Sure I already knew this, but its a bit different to see Geithner repeatedly drive the point home under oath. Also, his testimony would appear to support that a lot of financials are feeling the squeeze and need for quick profits...can you say snowball?
2) Bear supposedly had a $10 billion drop in their liquid capital pool in one day. Not sure I'm buying it, but if so, how the "F" does that happen? Thats a freaking run...
3) Looks like there may be an investigation of large scale naked short selling forthcoming.
4) Here comes FHA
Didn't cheap, easy credit cause some problems in the past? I'm puzzled.....
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