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IPFS News Link • Economy - Economics USA

Mr. Bubble

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Sure Tax Cheat Tim we believe you! ""I don't think the financial system is reverting to past practice, and we won't let that happen," Mr. Geithner said. "The big banks are running with much less leverage now, much more conservative liquidity cushions, there's been a significant shrinking of their balance sheets, getting rid of bad assets and cleaning up. And the weakest parts of the system don't exist anymore." Some banks, including those that received government bailout money, are earning record profits, increasing pay and ramping up risk. Goldman Sachs Group Inc., for instance, recently recorded its most profitable quarter ever and boosted its degree of risk-taking as measured by how much money it could lose in a single day." "The consequence of achieving stability is that people can raise money, can raise equity, can borrow more easily at lower rates, that these markets have liquidity again," Mr. Geithner said. Read

3 Comments in Response to

Comment by Lola Flores
Entered on:

 Rick Stone = like a parrot, only with less brain and more crackers

Comment by Richard Stone
Entered on:

 You can say that again Mr. Hal Turner.

Comment by Lola Flores
Entered on:

 We're in good hands with Tim "The Tax Cheat" Geitner!



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