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Post by unlawflcombatnt on Mar 2, 2007 3:40:57 GMT -6
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Post by jeffolie on Mar 2, 2007 14:15:26 GMT -6
With bank reserves at about 1%, it would take very little to make banks impaired to the point they would have to stop lending and be subject to runs.
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Post by beachbumbob on Mar 3, 2007 7:28:30 GMT -6
the FED is out of touch, and listening to Bernake doesn't instill confidence
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Post by jeffolie on Mar 3, 2007 11:39:22 GMT -6
The Fed is doing its job of instilling confidence in the banking system by jawboning. It acts to calm the fears with words: there is nothing to see here, move along. The banking sector has been hit hard last week in Europe. Our banks, hedge funds and pension funds have portfolios containing failing subprime MBS and declining CDOs. The index to watch is the Philadelphia Banking Indes $BKX stockcharts.com/h-sc/ui?c=$bkx,uu[w,a]dalaynay[pf][iut] which fell off a cliff last week.
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