Moon Kil Woong
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JPMorgan Chase: A Good Long-Term Play? [View article]
So yes, JPM looks good because it too is a TBTF subsidized monstrosity that loves to gamble and use the government to make a profit. The real fear in all these banks is that the people will someday realize what's going on and say stop. Stop allowing banks to gamble through proprietary trading with public funds. Stop subsidizing them writing bad loans and dumping them on the taxpayers. Stop protecting them under the TBTF policy. Stop allowing them to play financial games that obscure their true state of their business. And perhaps even force them to break up. Any TBTF bank is too big. We should do something about it besides allowing them to get even bigger (dumb).
Stay Away From The Big Banks [View article]
The best bank is a small one that knows all its loan book. TBTF banks are really structurally uncompetitive unless they have strong investment banking which should not be a bank. If you want strong banks institute Glass-Stegall, bar banks from investment banking and risk, and let the gamblers gamble with their own money not depositors.
Bank Of America: The New King Of The Hill? [View article]
8 U.S. Banks That Just Received The G20 Too Big To Fail Blessing/Curse [View article]
29 Global Too Big To Fail Banks [View article]
The Illusion of U.S. Dollar Safety [View article]
The author is right if he is trying to point out that there are even greater problems at home no one is talking about yet. Forget Dubai World, think about Californication.
Wall Street Breakfast: Must-Know News [View article]
As for the Volker rule, it is a watered down Glass Stegall because the financial lobby is too strong to think you can ever go back to Glas Stegall.
Congress Made the Bank Bailouts Work for Taxpayers [View article]
Congress is guilty of gross negligwence giving away taxpayer money without a set of guidelines and requirements. If the economic sky really ever does fall it will be because of bills like this, not because bad banks go belly up.
Bank of New York and Bank of America vs. AIG: No Winner in Sight [View article]
Bank Stress Test: The Cheat Sheet [View article]
No progress can be made until they recognize and tackle modern day accounting and financial instruments. Closing your eyes and playing dumb is a recipe for disaster. You would have thought they would have noticed this after the 2008 mortgage CDS/CDO driven meltdown. I guess it wasn't a big enough event for them to care about.
Stress Test Results Are Out - Leaks Were Right [View article]
The Banker: Not a Clue [View article]
How do they know that? The simple fact is they don't. Do I believe Paulson and the Treasury knows that. In fact, I believe they know one thing, that is a lie. Citibank is maybe $1 trillion underwater. If you wish to prove me wrong show me their positions. They won't because they can't without 1) bankrupting themselves 2) Making Paulson look like a crook or idiot 3) and maybe someone going to jail.
This recession is not a natural disaster. It is caused by fraud, lies, deceit, lack of regulation, and unaccountability on such a grand scale that it undermined the strongest country in the world. Enough said.
Schumer Is Way Off [View article]