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ft.com - 1/22/2009
FT.com / Comment / Opinion - America’s banks need to hold a yard sale
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A clear lesson learnt from this credit crisis has been to sell and sell early. However, it appears as if US banks are setting out to make some of the same mistakes of the past 18 months all over again. In many instances, those mistakes determined who survived and who did not. Throughout 2007 and ...
ft.com - 1/22/2009
FT.com / Comment / Opinion - The right and wrong way to bail out the banks
— ft.com — According to reports in Washington, the Obama administration may be close to devoting as much as $100bn... of the second tranche of the troubled asset relief programme funds to creating an “aggregator bank” that would remove toxic securities from the ... (more) FT.com / Comment / Opinion - The right and wrong way to ...

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naked capitalism:  Links 1/22/08

The Big Picture:  Whitney: What Are They Waiting For?

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Links 1/22/08
naked capitalism — ... America’s banks need to hold a yard sale Meredith Whitney, Financial Times. "One constant question I get from investors, who need somewhere to put their money, is: if I had to own something, what would it be? I am not very helpful to them at the moment as my answer is that I would own nothing. " ...

Whitney: What Are They Waiting For?
The Big Picture — ... Meredith Whitney’s Financial Times Comment yesterday offers another reason for more dramatic government action: management’s unwillingness to accept reality. Whitney tries to make an analogy between the over-extended taxpayer holding a yard sale and the banks’ clinging to their assets. That doesn’t really have much impact. But if you combine her argument with the growing calls for nationalization, you begin to see a rationale for the government’s breaking up any existing banks that cannot survive. Talk about creative destruction: ...

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