Fair comments MDP! Re your consience, congratulations on having one ... not apparent from instos / market makers I'm afraid!
Statements about being "too big to fail" were used by Paulsen to justify massive taxpayer funded bailouts; otherwise there wouldn't be many US banking pillars left even today.
IMO Obama has sent shock waves through the whole US financial system - placing them on notice re the myriad of questionable accounting and valuation practices employed. Now I wonder who really benefited from those practices?
As I approach 60 I can still recall the advice from my long deceased elders who lived through the Great Depression; "Never trust the banks!"
IMO sick systems need more than bailouts!
4YIO - NFA
35 this week, page-32
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