Even the Fed/Bank Apologist CNBS Couldn’t not Continue to Ignore Occupy Wall St Movement

Admin — Thu, 13 Oct 2011 01:08:48 +0000

Very interesting piece (wow, on CNBS? Surprise)

US Banking Crisis, The Redux

Admin — Fri, 30 Sep 2011 20:47:58 +0000

Didn’t they tell us that US banks didn’t need any tax payer help after all? Guess what, after swindling the tax payer relief and pretending that tax payers were paid back, the gamblers are at it at again. While the world is focused on European sovereign debt, European banks and Bank of America, a new “Bear Sterns” surfaces in US. It is Morgan Stanley (I quoted a Financial Times story about MS in this morning’s update). Last week my favorite blog, Zero Hedge wrote a story about Morgan Stanley’s exposure to French banks.

So if you are looking for a French bank implosion derivative play, look no more.

And naturally, it goes without saying, that adding across MS’ entire European bank exposure is 3 times its market cap, and well over its entire book equity value.

In another post last week, Zero Hedge exposed Morgan Stanley even further.

And that’s your definition of Too Big To Fail right there: the biggest banks are not only getting bigger, but their risk exposure is now at a new all time high and up $5.3 trillion from Q1 as they have to risk ever more in the derivatives market to generate that incremental penny of return.

MS wasted no time in dismissing the ZH story as a vicious rumor. My official motto is, “never believe a rumor until it has officially been denied.” Watch this video to witness the unfolding of a brand news US banking crisis all over again. Pay attention to the CNBC shills doing their best to discredit the CDS buys, but not the bank management. When will this BS from the media stop?

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Even the Fed/Bank Apologist CNBS Couldn’t not Continue to Ignore Occupy Wall St Movement

US Banking Crisis, The Redux