Comments: Royal Bank of Scotland Falls 66% in One Day!

Obama day, yesterday, was a particularly bad day for the big banks. There is something big time wrong in banking land. 6 month charts that include yesterday's prices for:

Goldman Sachs Group, Inc
Wells Fargo & Company
State Street Corporation
JPMorgan Chase & Co
Citigroup, Inc
Barclays PLC
Bank Of America Corporation

Posted by bob at January 21, 2009 09:44 AM

or check out the BKX ....

Posted by The BKX slips away... at January 21, 2009 09:50 AM

"There is something big time wrong in banking land."

They don't trust each other -- so gummint has decided that it is the taxpayer's duty to shell out, and keep shelling out, until they do trust each other again. Can you say "moral hazard"?

My theory:
1) Banksters own gummint, so...
2) gummint is flushing the banks with waaaaay more electronic toilet paper than they actually need, "accidentally" not asking them to say where it's going, meanwhile ...
3) banksters have gone on a temporary lending strike, so as to ...
4) crush the productive sector down to its knees, such that ...
5) when the whole world of sheeple are operating below cost and jettisoning durable physical assets (land, factories) at garage sale prices...
6) they can swap their immense war chest of electronic toilet paper for all those assets, igniting massive inflation so that...
7) gummint can throw off all its debts...
8) - - - > control alt delete

Posted by Hasan at January 21, 2009 12:07 PM
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