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The house of cards will fall when the last debtor can no longer pay . . . and then we will see Mad Max in the Western World.
I will be one of the Interceptors. Good news, the Dodge Chargers of today are faster and safer when attacked by traveling gangs of hooligans.
Make em wash dishes!
On the lighter side: /s
That chart hurts my eyes. Pun intended.
'4. Bank funding concerns (Cross currency basis swaps) remained high through the year'
Just go ahead and keep that in the red. Indefinitely.
where's the bofa economic viability column, that is completely red??
again, i don't listen to dead people...i let my vodoo priest do that for me
Now now... don't be impolite. Zombie is the proper term.
sorry, even in these times i should take the time and remain politically correct...
Zombie apocalyspe would be far more exciting than global meltdown. I guess the meltdown would do
Is that a thermal image?
Yes, it's King Kong.
You can see his 'eyes' in columns 7 and 2, in late April / early May.
And boy, does he look pissed!
Don't forget the AZO indicator. AZO posts $191M profit, but $310M was paid out to earlier investors (indefatigable stock buyback). The circus continues.
july...risk off...zombie calls...
Is it a good idea to rely on the statements from employees of companies that are known to have bribed every public official with their hand out? That have sold and resold the same product to 15 buyers at one time, each buyer believing they were getting a unique security. Leveraging themselves 100 times the value of every asset they have, marked up to its full fictional value, and 960 times if you mark it to reality. Defending companies they purchased by any criminal means necessary to pretend the actions weren't fraud when they created the product, and aren't fraud now knowing you are defending a crime, and in the case of Countrywide, we know that as much as 100% of what paper products they created were bogus.
And this isn't just for BofA that is DOA, this is for all of them.
How can the words of someone at these firms now be taken seriously? How could it get past the screeners at the top and be truthful? Just because they are talking about what they allege are someone else's assets? Because DofA is talking about Europe, they are supposed to be believed? They have $1T exposure to Europe and every reason to lie with breathing.
Make sure everyone digs the snark, as it is proving to be some of the only valid reporting on behind the scenes in fantasy land.
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