Friday, May 16, 2008

Bathroom attendent Bernanke sees the need to keep investment banks flush with more liquidity

If anything proves the very fragility of capital markets, it's the latest pronouncement of our bathroom attendent at the US Fed Ben Bernanke. Keep flushing more liquidity into big bracket banks who brought up the subprime Ponzi scheme meltdown. We've not seen the end of the crisis which is knocking the US off the top of the dung heap of power. Today's report of a blip of improvement in the housing market might shot the dow jones up but it is important to note that it's not single owner housing but the building of apartment houses which have given up this swallow of hope. Which simply confirms that single ownership of homes is beyond the reach of the ordinary citizen. So much for the wisdom of this sage of America's and some might say the toilets of finance capital!

No comments: