closest to the pin at close 16-7-09, page-63

PA

What astonished me was it surely shouldn't have been that hard to work out?

Afterall I recall posting an article on the fact that being the "middle man" in bonds was easy money. This coupled with GS acting as the PPT makes a money making combination. Mind you they still have some very iffy level 3 "assets" but with the "too big to fail" tag and M2M accounting changes well - what does it matter?

her exception was Citibank and still waiting to see the what the outcome and ramifications of CIT group will be also - not so good for small and med businesses and then the on-flow for GE (who already received a back door helping hand courtesy of the US taxpayer).

Agree though the other "real banks" are of more interest.....delinquencies up but mortgage modifications are too.