so you think this is a buy

Dont own any dont want to own any and I will tell you why

The Merchant bank model is finished..

Bear Sterns, Morgan Stanley, Lehmans, Goldman Sachs, Merryl Lynch showed you why.

The last 2 standing will be gone in a few weeks.

The model is flawed and finished.

They cant borrow short anymore , They cant borrow long anymore..

They have no deposit base to fund or rely on for funding.

Why do you think banks and deposit taking Institutions have bought the carcasses of the US Merchant Banks.

Rollover of the outstanding debts will be impossible or akin to pulling flesh from the rotting bodies left in the banking arena.

What they have in assets and subs now is all they will have until the debt pile collapses.

The US debt increase $1 Trillion the last two years.

http://en.wikipedia.org/wiki/United_States_public_debt

Last week US FED put in $250 billion. The week before $100 billion

$700 Bill will buy the mortgages of 2 million US homes.

But 5 Milliion are in or about to enter foreclosure (Bloomberg)

Commerical property is collapsing in the States. Read USA Today

Just who will lend 3/4 Trillion to US now. The TIC report for August is negative $68 billion.

After just shafting the foreigners on a collapsing debt market and collapsing dollar do you really think there will be people outside of the client Arab staes that will lend money to the US now.

So foreigners are pulling out now which leaves only one way to fund this toxic 5 cents in the dollar debt that they will buy at 50-60 cents..

Thats right increase the debt limit then print the difference.

I have not talked about the bankruptcy of GM , Ford Etc

I have not talked about consumer demand crashing in the States.

I have not talked about Interest rate Swaps , CDS

Ask yourself one question. If the US banks cannot get funding do you think there is a chance a debt loaded little merchant bank in Australia will get what they need on the capital markets.

We were one decision away on Friday from complete financial collapse.

We are three weeks away from an Extinction event that each of you will watch.

I cannot believe tomorrow we will see the Lemmings buy stocks with their ears pinned back.

God help you all. You have a few weeks left...

Irony will not let Bush leave office without the title he deserves.

""The final act of a tyrant is to loot the nations treasury""