Friday, August 19, 2011
The rules in a panic
He who panics first, wins!
The Bankers panic of 1907 was started by the side bets blowing up.
JP Morgan eventually calmed the masses in that panic when he told the public, "If people will keep their money in the banks, everything will be all right."
The time, the side bet of gold is blowing up in the bankers face. Anyone want to speculate on the banks derivative books with all their other toxic bets?
This time, in the Panic of 2011, if you keep your money out of the banks, everything will be all right!
Time for the bankers to "Suck it up, and cope!"
And then Charlie will tell the world again that "we should thank God for bank bailouts."
Maybe we get a chance for a do-over!
Posted by Palmoni at 4:34 AM