Dear MMV - you sez "Until recently US banks can do nothing wrong. Now we are talking "insolvency" here as well" I ve heard of LEH [it's not even a bank] and BT today in the rumor mill. Is there any truth to them? Or some other real banks? TIA
Additionally, I thought Uncle Al was Fed Chairman, was he also responsible for the money supply also? This is not a rhetorical question, as I am not really a trained professional in this matter, and I always have the illusion that the UST, a branch of the govt., has the responsibility. Thanks again.
Finally, about Japan, you sez "At the same time if the Japanese rates were [sic] so low, we might still have had a bubble in equities - though not as big. But still a bubble."
I do not know if the interest rate in Japan was instrumental in driving down the stock price. Rather, it is the opposite. Otherwise, the japanese wouldn't need to *beggar thy neighor* out of the jam.
best, Bosco |
