Big Bracket Banks goose that laid golden eggs has gone sterile owing to the subprime Ponzi scheme meltdown

Alan Greenspan's silliness notwithstanding, the light is not at the tunnel for the big bracket banks saddled with subprime mortgages. So that readers won't mistake who they are, let 18Brumaire list them: Bank of America, Lehman Brothers, Merrill Lynch, Goldman Sachs, and Morgan Stanley. Cupidity, the lure of big bucks made them make wrong decisions in moulding fancy, tricky, and unreliable financial instruments such as CDO's, ABS's, & SVU's. Corruption and skewing of the market by sophisticated and suspect strategies of theirs. Malovalence played its role, too, for these big boys and some girls took advantage of America's poor and financial ill equiped, to buy into the American dream of owning a house without much, if any at all, collateral, and chained to onerous fineprint of draconian repayment schedules. And lastly, incredultiy, that such fine heads of finance capitalism could go wrong. Which they did. Note the absence of JP Morgan Chase which is now masquerading as the old robber baron J.P. Morgan & co. It has subprime holdings, and what's more it's purchased at a steal the rotten mortgage book of Bear Stearns. So, no more golden eggs for these thieves profits; expect poor balances sheets. And what's more so far these pickpockets have already written down us$380billion, and the counting is not over yet. 18Brumaire conservatively reckons that these Ponzi schemers will have to shell out more than us$1000 billion or more than a cool us$1 trillion and we're not sure if that figure scrapes the bottom of the subprime mortgage barrel. The big bracket banks can count on one thing, the US government will help bail these criminals out; it has little choice, and doesn't give a rat's arse about the rest of the country or the world but only cares for its platinum lined pockets and wealth