muses of the moment

January 17, 2011

Classic

Filed under: Bank bailout, DOW and S&P500, Odds 'n ends — totallygroovygirlfriday @ 1:27 am

Quote from Jim Sinclair’s website, so true!

Jim Sinclair’s Commentary

Why do you not hear screaming and crying on this? Could it be because the great profits of all these bankers was a mark up on the crap paper they held after FASB sold their souls to the devil?

Getting rid of the trading departments is akin to what you do with a restaurant after using it as a money laundering facility – you burn it down.

Morgan Stanley to spin off prop trading desk
By Justin Baer in New York
Published: January 10 2011 21:33 | Last updated: January 10 2011 21:33

Morgan Stanley agreed to spin off its last big proprietary trading desk by 2012 in a move that brings it a step closer to meeting new US rules on banks betting their own capital.

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