If our hotline rings and Mr. Obama is on the phone, we know what advice we will give: Let the banks fail. Let them go broke. Let them be liquidated. Then, the surviving banks could buy up the decent assets and emerge stronger than ever…
February 26th, 2009 | Bill Bonner | 3 comments | ContinuedAll Posts Tagged With: "liquidation"
Here Come The Commies
Stocks in the U.S. were up overnight. Here in Australia, the blind are following where the deaf boldly lead. But is anyone listening? Or is everyone too busy hoping? What we’re talking about are Ben Bernanke’s comments. The news headlines read that he predicted the recession will end later this year and the American economy will recover in 2010. But that’s not exactly what he said.
February 25th, 2009 | Dan Denning | 4 comments | Continued
What We Face Now Is a Depression
What happened to Thomas L. Friedman? Did he drop the hair dryer in the bathtub…and give himself a jolt? Suddenly, he’s saying something that is modest and sensible. But his brush with intelligence lasted only three paragraphs. Then, it’s back to the old simpleton Friedman…with a solution to every crisis…and a fix for every problem his last solution caused. But you can’t fix a depression. And what we face now is a depression…
February 3rd, 2009 | Bill Bonner | 3 comments | Continued
Lehman Brothers on the Verge of Liquidation
By the time you read this, Lehman Brother’s may have already been dismembered and sold into various parts and pieces. Merrill Lynch may have merged with Bank of America. What a spectacle. There stands Henry Paulson like a paper wall. It appears that the best efforts of the U.S. Treasury Secretary to jawbone a deal to save Lehman brothers have failed…
September 15th, 2008 | Dan Denning | 1 comment | Continued