Monday, October 13, 2008

Heckuva Job, Brownie! (Gordon Brown, of course.)

1. For Gordon Brown, I just have to say: Heckuva job, Brownie. Really.

2. England just schooled Hank and W on how to execute a honest-to-god bailout, not the Friends of Hank bailout that was passed by congress a mere 10 days ago.

3. Now that British banking is more secure than US banking, expect the giant sucking sound of money leaving the US for Europe until either Hank wipes out US bank shareholders with partial nationalization or Obama takes office.

Why is Hank avoiding this solution? Look at the share prices of the banks that received gov't money: They were pummeled. Hank would be wiping out many of the colleagues on Wall Street that helped make him CEO of Goldman-Sachs. He just doesn't have it in him.

No comments: