Analysts are rightly pointing out that Banks are making profits, despite making few loans and seeing fundamentals deteriorate. By the way: Did you know the Senate Democrats blocked a resolution to honor Lady Thatcher? And, of course, Ezra Klein is still an idiot.
Obama, John McCain and others- like Paul Krugman- who head up the Bad Idea Brigade, will likely import Cypriot banking methods to the US very soon. The risky politicians and their Liberal Conscience, would love for you to think the crisis is about the evil banks, the shady depositors, their greed and lust for money.
With liberal ideas firmly in the saddle, civilizing us, so to speak, we no longer applaud Depression-era bank robbers. Instead, today, we send them to Congress, or parliament, or the legislature, where governments try to achieve folk hero status by robbing banks and depositors alike.
The Wall Street Journal of Feb. 27 tells the story in its own headlines. On page C1, the story was, "JPMorgan Pulls Belt Tight," while on C3 the headline read, "Wall Street's Bonus Pool Hits $20 Billion." If that doesn't describe this crazy false recovery we are allegedly undergoing, nothing does.
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