Posted by
Stefano on Thursday, February 12, 2009 8:57:16 AM
The stock advisor, John Markman, who is a level-headed analyst seems to say in his Super Models column today that we are headed toward an inevitable meltdown of our banking system. The magnitude of bad debt on bank balance sheets is beyond the healing capabilities of the government. Nationalization is in the cards and I think that the joke of a stimulus plan of the Democrat Congress will only delay and exacerbate our problems. Our new Treasury Secretary, Tim Geithner, has offered his best and has come up short. Obama keeps spouting off about failed policies of the past and all we hear from Geithner is the same stuff we've already tried. Old Mother Hubbard Obama has gone to the "Hope and Change" Cupboard and found that the cupboard is bare. There are no bones for the U.S. economy. Here is the link:
http://articles.moneycentral.msn.com/Investing/SuperModels/geithners-first-test-is-a-disaster.aspx