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Pfizer Inc. Message Board

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  • copromeccakide copromeccakide Jan 20, 2012 6:00 PM Flag

    Dicik Bove's target price for BAC

    Easily worked out? Yet another fractured fairy tale version of history.

    The crash happened this time for exactly the reason that critics of the subprime legislation in the late '90s & subsequently said it would, namely allowing investment banks to get involved in mortgage lending, while at the same time dictating that banks no longer abide by tried & true mortgage restrictions.

    That there were fewer & bigger banks in 2007 than in 1997, 1987, 1977 or 1967 & earlier only made it worse & easier for Paulson to stampede Bush & Congress into the unneeded TARP bailout. Not too little, but too much was done by government.

    Rubin no sooner got this witch's brew enacted than he returned to Citi & began profiting from mortgage-backed securities. The situation got worse when loan fraud investigators were switched to counter-terror ops after 9/11.

    This time it was different.

 
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