The Mudcat Café TM
Thread #119021   Message #2581217
Posted By: Q (Frank Staplin)
04-Mar-09 - 01:35 PM
Thread Name: BS: Obama Goes For Broke
Subject: RE: BS: Obama Goes For Broke
Time to consult the orishas? Will Obama be the sacrificial goat?

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HSBC reports a paltry $18 billion profit for the last quarter of 2008 (One of the more careful banks), and is looking to raise money. Their assets are something like $3.4 trillion. Haven't looked it up, but A. I. G. was probably larger. The bailout so far looks like a token amount.
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A report on CNN today suggests one in 4-5 mortgages is 'underwater.'
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Perhaps the orishas aren't strong enough.