Comments on: Smearing Risk Around Like Peanut Butter http://www.coyoteblog.com/coyote_blog/2009/04/smearing-risk-around-like-peanut-butter.html Dispatches from a Small Business Sun, 12 Feb 2012 16:12:30 +0000 hourly 1 http://wordpress.org/?v=3.2.1 By: Matt http://www.coyoteblog.com/coyote_blog/2009/04/smearing-risk-around-like-peanut-butter.html/comment-page-1#comment-18797 Matt Tue, 28 Apr 2009 20:45:19 +0000 http://www.coyoteblog.com/?p=7806#comment-18797 The tactic your kids are using is not unique. I used to do that a lot with my mom's tuna casserole. I couldn't stomach it, and I can't stomach the subprime mortgage casserole either. The tactic your kids are using is not unique. I used to do that a lot with my mom’s tuna casserole. I couldn’t stomach it, and I can’t stomach the subprime mortgage casserole either.

]]> By: Dr. T http://www.coyoteblog.com/coyote_blog/2009/04/smearing-risk-around-like-peanut-butter.html/comment-page-1#comment-18761 Dr. T Tue, 28 Apr 2009 00:58:21 +0000 http://www.coyoteblog.com/?p=7806#comment-18761 When the B of A buyout of Merrill-Lynch was proposed, many of the B of A executives liked it. They were getting M-L for what seemed to be about 20% of its fair market value. But, they didn't have full information. M-L was in far worse shape than anyone at B of A imagined. Now the B of A execs and shareholders feel like they are treading water with the feds tying them to an anchor instead of a leaky boat. For those who don't know, Mr. Lewis resigned (under pressure) his position as B of A CEO. He put too much trust in "Chicken Little" Paulson and badly damaged the bank. The two B of A vice presidents I know are bitter. One jumped ship to another bank, and the other hangs on while hoping that a general economic recovery will allow B of A and M-L to recover. I don't think that will happen, because the Obama administration bad-mouths B of A at every opportunity. I think they want B of A to fail because they can blame it on Paulson and the Bush administration. Plus, having a major commercial bank fail will make it easier for Obama to either nationalize the commercial banks (socialism) or subject them to strict federal oversight (fascism). I'm voting for fascism, but it's a close call. When the B of A buyout of Merrill-Lynch was proposed, many of the B of A executives liked it. They were getting M-L for what seemed to be about 20% of its fair market value. But, they didn’t have full information. M-L was in far worse shape than anyone at B of A imagined. Now the B of A execs and shareholders feel like they are treading water with the feds tying them to an anchor instead of a leaky boat.

For those who don’t know, Mr. Lewis resigned (under pressure) his position as B of A CEO. He put too much trust in “Chicken Little” Paulson and badly damaged the bank. The two B of A vice presidents I know are bitter. One jumped ship to another bank, and the other hangs on while hoping that a general economic recovery will allow B of A and M-L to recover. I don’t think that will happen, because the Obama administration bad-mouths B of A at every opportunity. I think they want B of A to fail because they can blame it on Paulson and the Bush administration. Plus, having a major commercial bank fail will make it easier for Obama to either nationalize the commercial banks (socialism) or subject them to strict federal oversight (fascism). I’m voting for fascism, but it’s a close call.

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