Sunday, February 22, 2009

Let's unstuck the needle in the groove and the Zombies

watercolor by marguerita
previously used for postcards for Club A
The financial industry has a bit of good news. Really.

To end their zombiehood the banks need more capital. But they can’t raise more capital from private investors. So the government has to supply the necessary funds.The real question is why the Obama administration keeps coming up with proposals that sound like possible alternatives to nationalization, but turn out to involve huge handouts to bank stockholders.
Op-Ed Columnist - Banking on the Brink -

“This is going to shock investors, who think the news is always bad news for these companies,” said Richard X. Bove, an analyst with Rochdale Securities. “Money’s coming in. Money’s flowing into the financial markets.”
More Money From Fees Gives Banks Good Start -

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