Ed Huntress wrote:
"John R. Carroll" wrote in message
...
Ed Huntress wrote:
"John R. Carroll" wrote in message
...
Ed Huntress wrote:
"John R. Carroll" wrote in message
...
Ed Huntress wrote:
"Wes" wrote in message
...
"Ed Huntress" wrote:


Anyway, maybe, and I'm really curious to see what would happen if we
let all of the derivatives and hot air out of the balloon. It's like
standing on an ice flow in the Bering Sea and wondering what would
happen if it started to break into little pieces.

A better analogy would be human flight absent an airplane.
You think flapping the feathered contraption strapped to your arms will have
you soaring like an eagle and it looks impressive.
In fact, you might even think you are really flying for a while after
jumping from a high enough perch. That's where we are today, point and laugh
time.
The trouble comes when the realities of gravity and contact with Mother
Earth intrude. That's where we are headed. Gasp, cringe and turn.

Our financial system is just like that right now Ed.
What I haven't had anyone explain in terms of the underlying fundamentals is
why Citi, AIG, BofA and all of our other publicly traded banks and financial
institutions aren't trading where they ought to be - at ZERO.

Even at the paltry sum of $3.50 per share, Citi is overvalued. They aren't
worth a thing.
AIG ought to be paying anyone stupid enough to want their common equity and
the list just goes on and on.
Pretty funny. Go ahead, point and laugh.
That situation, not sovereign debt debacles, is about to end. It had to be
so and it will.
Gravity and Mother Earth are about to intrude and no amount of arm flapping
will prevent it.
S.P.L.A.T.
The first gasp came in the form of a preemptively defensive $9 million
dollar bonus payment.

--
John R. Carroll