by Rick Lowe
I’m pleased with the failure of the US Congress to pass the now infamous bailout bill this week.
Now the market might be able to flush out some crap.
As Dr.Don Boudreaux of Cafe Hayek pointed out in an e-mail exchange: …if Congress retains the backbone to avoid enacting any bailout, the economy’s long-run prospects are much better than they would be if that backbone is lost.
What do you think?
While we’re on this subject, I’m in the middle of an interesting book on The Great Depression by Amity Shlaes entitled The Forgotten Man. It’s worth the time to read.
Here is something worth taking the time to view. http://www.youtube.com/watch?v=NU6fuFrdCJY Shows why the Democrats were eager to pass the bailout bill. It was their doing that partly got the U.S. banking system where it is today.
This is a serious liquidity crisis which has spread world wide……Banks in Europe are failing. Government monetary authorities must provide adequate liquidity or the leveraged system will crash.. We has better be concerned with liquidity in the Bahamian banking system. When a major banking institution publishes in the two leading newspapers four pages of repos, it is time to think about the banking system’s liquidity. Sadly by the time the Central Banks of the world take the appropriate action, it is always to late. Does Gulf Union come to mind…these are trying times…
This is a serious liquidity crisis which has spread world wide……Banks in Europe are failing. Government monetary authorities must provide adequate liquidity or the leveraged system will crash.. We has better be concerned with liquidity in the Bahamian banking system. When a major banking institution publishes in the two leading newspapers four pages of repos, it is time to think about the banking system’s liquidity. Sadly by the time the Central Banks of the world take the appropriate action, it is always to late. Does Gulf Union come to mind…these are trying times…
Agreed Tradewinds.
Have you heard anything about Canadian banks?
Does that speak to something?