Welcome to The Corporate Financial State
September 14th, 2008 by SocProf and tagged Economy
So, Lehman Brothers go belly up, Bank of America buys Merrill Lynch… let’s say when there is only one financial company left standing and controlling credit cards, consumer credits, banking and saving, we nationalize it and make it a non-profit utility… Hey, that’s no more stupid than the current system.
And by the way, if US and European Banks decide to create an anti-bankruptcy fund (whatever happened to letting the market work its magic?? *She asks innocently*), it might be because they know things ain’t going to improve and they want to be the ones left standing. The careful 10?
- Bank of America,
- Citibank,
- Goldman Sachs,
- JPMorgan Chase,
Merrill Lynch,- Morgan Stanley,
- Barclays,
- Deutsche Bank
- Crédit Suisse
- UBS
Posted in Economy, France | 2 Comments »
September 15th, 2008 at 8:38 am
You blogged too soon. Better cross Merrill Lynch of the list.
September 15th, 2008 at 10:08 am
Indeed… they go bankrupt faster than I can type “bailout”!