Thursday, February 5, 2009

How bad can it be?

How about so bad that the Russians have abandoned their plans to bail out the banks?

Yep, instead of helping the individual banks, they're going to try and prop up the entire economy and will force consolidation among banks!


They're planning on allowing the GDP to fall to ZERO for the year 2009!

Think they've experienced social unrest already? Guess again.

Oh, and the executive pay cap of $500,000 that Obama was shouting from the rooftops. Turns out it was just a bunch of hollow mealy mouthed political pablum. What else did you expect?

Goldman Sachs and JP Morgan, Chase are EXEMPT. Read the story at Bloomberg.

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