Wednesday, November 16, 2011 – 01:50 p.m.
Rumors have started circulating on Wall Street this afternoon surrounding the solvency of investment banks Jeffries & Co. and Morgan Stanley.
The stock of the two companies was pounded today after a report from Fitch Ratings stated that U.S. financial institutions may be exposed to problems impacting European Unions banks.
The pressure on Jeffries and Morgan follows the collapse of MF Global. MF Global succumbed after making huge bets on European debt.
Recall back to 2008.
The rumors of back problems started and then a banking crisis ensued.
If there’s a problem the markets as always will settled the matter in very short order.
Expect hedger’s to start pressuring the stocks of the perceived weak.
Hopefully the domino’s don’t fall too far.
The clock is ticking…
Government jobs pay far more than regular jobs. Too much regulation, too many DAs, an FBI who doesn’t care about civil rights, too many people on gov dole = NOT GOOD.
Just heard a wonderful bit of news on the normally useless local network station. According to the US Census, San Bernardino is the second most impoverished city in the US, only to be surpassed by Detroit. The reason was purportedly the ease of obtaining assistance in the SB area.
Hmmmmm, let’s see, liberals beget social programs, social programs beget poverty, poverty begets declines in real estate values, declines in real estate values beget lowered property taxes which begets lowered government revenues, which begets the need to raise taxes on the average Joe, leading to more poverty, and so on and so on. I’m just sayin’