Monday, 29 September 2008

Bank robberry of the century

Hands up, this is robberry

Off topic again, but I have to save an article for the future . Absolutely right diagnosis set up by Nouriel Roubini about global crunch ( contagion ) just upon the World.

Roubini: Not bail-out, but crap

So, what do you think , how many years in jail will Wall Street guys get for this bank robberry ? How many trials will be there for this criminal and irresponsible behaviour ?

Nobody in the media reports about the protests ( YouTube video ) going on in the lower Manhattan ( Wall St. ), not business as usual down there.

Roubini's main conclusion is this:

1. The plan is inefficient (ie, it doesn't discriminate between who ought to be saved or not, and in fact rewards those who created dud assets)

2. It runs counter to the best models of how to deal with this sort of problem

3. It does not punish current shareholders or management

Follow up articles to note:

US retirement accounts have lost 2 trillion
So far and US only...

Iceland - the first souverign nation facing bankruptcy after global financial crisis
National state emergency

Pakistan's the second...after Iceland

Financial manager in LA killed his family
Money worries start to blow someone's mind and tragedy unfolds

Insolvency crisis among UK retailers in 2009 ?
Not aware about the troubles ahead, yet...

Hong Kong bank customers want their money back from banks
At any cost, riots looming...

Brazil and Argentina try trading without dollars
Greeenback not needed as before...

South Africa starts killer disease
Spreads like a plague

Stolen opium for those unhappy in the future
Happy pill for the masses

Russia's bull welcomes Cold War 2

Red Army marching...

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