Promoting America's Urban Frontier
It's A Joke Right?
"Ben Bernanke just gave one of the major reasons why some of the major Banks in America cannot be temporarily nationalized even though it's more and more apparent that they are insolvent and the taxpayer has already given them enough cash and guarantees to own them.
Bernanke testified to the U.S. Senate Banking Committee that the significant value built up in the country's banks would be lost if they were government-owned, easing investor fears that banks could be nationalized, wiping out shareholders.
Bernanke said that although there could be a time when it is necessary to close banks down, now is not the time. For more see [ID:nWAT011033].
Bank stocks surged. Bank of America (BAC.N) climbed nearly 18 percent to $4.60 and the S&P Financial index .GSPF jumped 8.2 percent.
"Bernanke believes banks have significant franchise value; if the government owned them that would be lost," said Richard Sparks, senior equities analyst at Schaeffer's Investment Research in Cincinnati, Ohio.
The answer is hysterically funny and seems to speak to Bernake's view of Americans as total idiots who will buy any lie."
Excuse me, did he say franchise value as in goodwill as in the respect and honor granted to firms by people who believe in their integrity, prudence and good judgment in the marketplace? What do you think the brands of Merrill Lynch, Countrywide Credit, Bank America and Citi group are worth. Americans pretty much know these firms are dead. Stop lying Ben. JUST STOP LYING.
Bernanke testified to the U.S. Senate Banking Committee that the significant value built up in the country's banks would be lost if they were government-owned, easing investor fears that banks could be nationalized, wiping out shareholders.
Bernanke said that although there could be a time when it is necessary to close banks down, now is not the time. For more see [ID:nWAT011033].
Bank stocks surged. Bank of America (BAC.N) climbed nearly 18 percent to $4.60 and the S&P Financial index .GSPF jumped 8.2 percent.
"Bernanke believes banks have significant franchise value; if the government owned them that would be lost," said Richard Sparks, senior equities analyst at Schaeffer's Investment Research in Cincinnati, Ohio.
The answer is hysterically funny and seems to speak to Bernake's view of Americans as total idiots who will buy any lie."
Excuse me, did he say franchise value as in goodwill as in the respect and honor granted to firms by people who believe in their integrity, prudence and good judgment in the marketplace? What do you think the brands of Merrill Lynch, Countrywide Credit, Bank America and Citi group are worth. Americans pretty much know these firms are dead. Stop lying Ben. JUST STOP LYING.
About
© 2009 Created by Jim Russell on Ning. Create a Ning Network!
