Disaster Looming On Wall Street.........It's been quite a week at that dog & pony show known as PDAC but there have been a few "nuggets" of useful information! For most of the part it's a chance to get together with acquaintances over a few pints here & there! As a consequence my workout schedule has been in shambles!
Now down to business........here's a clip that is well worth the 5 minutes to view. In a nutshell, the loons in charge of TRYING to stabilize the banks are doing a miserable job rescuing Wall St! (Banks deserve no help and should be allowed to fail)! What is even worse is these incompetent boneheads haven't got a clue how to rescue Main St! Beginning in July and accelerating into the fall are a great number of residential mortgages! A wall of Commercial loans will reset over the next 3 years and not a soul has a clue how to help the banks cope! Still fell confident holding the banks?
https://www.youtube.com/watch?v=ERlMxc84_EM
All the best,
The Bluenote