Wednesday, September 17, 2008
I recall reading Friday an analyst form Citigroup stating Merrill’s “liquidity position is strong and that exposure to volatile businesses is lower relative to its peers.”
If that's the case, then it looks like all the banks are on the verge of complete failure. When are these analysts going to stop with their lies? It appears as if we are witnessing government bailouts using taxpayer money that are being deceitfully disguised as buyouts. Not just with the Merrill buyout but also this newly established $70 billion emergency bank fund, set aside to help out banks with future problems. Where do you think this money is coming from? The banks certainly don't have it. You see, the banking cartel – the guys that own the Federal Reserve – have been given a blank check and will make it through this crisis. JP Morgan Chase is already dealing with Bear Stearns so now it was time to ask Bank of America to take over Merrill.