Solvency, Lost in the Fog at the Fed –


Remember when everyone was asking if Bank of America was going to keep sliding to $2.50 a share?

What would have happened if HAMP had been administered through HUD directly instead of through the banks? Would the Government have lied to Homeowners and said “Please resubmit your paperwork, we never received it”?

How was everyone so caught off guard? They were sleeping. Our little rag tag group began documenting criminal activity as early as 1998. Unfortunately, the bank had Bill Clinton under their spell. By the time he caught them, they were George Bush’s friend. By the time it blew on the end of his watch, they were the BFF’s of Senator Barack Obama.

BAC was the pace car for American Banking. By the time competitors caught on to their “secret” to innovative banking, foreign banks were playing by the New Rules too. The New Rules being forget the Customers, just control elections, that leads to controlling Government, that leads to controlling the World. In hindsight, were they exceptionally clever? Or Machiavellian?

Sure, they turned in a few bad guys. But was that because they were dirtier than the other bad guys, or because they wouldn’t abide by the *New Rules* of Banking? Or somehow managed to provoke the new Empire’s *security troops* and landed on an enemies list?

These, and many many other questions are as the article is titled. Shrouded in Fog. One of these days, that fog may lift if the Sunshine dispels it.


Fed’s Stanley Fischer Discusses Big-Bank Political Influence – WSJ

That’s okay Mr. Fischer. So were Larry Kudlow, Jim Cramer, the U.S. Chamber of Commerce, and myriad others.

At least you are man enough to admit it instead of rationalizing your error. That is good. You are not infallible and as Billy Joel once said ” We are human beings. We are supposed to make mistakes.”