Market was up 400 yesterday. Marco Rubio is laughing to The Miami Herald: "What's the big deal? Just because Joe Martinez and I made a good investment, you're beating on us? ... There's no problem. A little issue with financial disclosure papers.Now it's the Brits. They don't get it: we're problem solvers. We're for "the free market". Just leave us alone so we can do our job, protecting you. We're builders. Get it?
4 comments:
Gimleteye my favorite bank and owner of many foreclosures in Florida - Deutch Bank - was in the news today along with UBS. The Herald said:
"Two of Europe's largest banks, UBS and Deutsche Bank, said Tuesday they are writing down billions more in bad investments, reflecting a wave of woe crossing the Atlantic from the U.S. subprime crisis."
That can't be good!
More from the business section:
UBS AG announced the surprise departure of its chairman and forecast losses and write-downs of approximately $19 billion in the first quarter. That puts its write-downs for the past nine months at $37.4 billion - the most reported by any bank so far.
Switzerland's largest bank also said it would post a first-quarter net loss of about $12.1 billion, seek about $15.1 billion in new capital and create a new unit for its troubled U.S. real estate assets. More jobs also will be cut.
Deutsche Bank, which has been less affected, said it now expects write-downs of about $4 billion in the first quarter because of "significantly more challenging" market conditions after the plunge in U.S. housing prices, rising defaults and the resulting credit crisis.
The Brits rarely do. They are a clever lot, but are blinded by their prevailing dislike of America. Ultimately, they do not wish us well.
I am generalizing of course, but you will find I am not far off the mark when it comes to the majority of the British population.
WTF is that BS post!
Uh, European investment was 5:1 South American investment due to the Euro's strenght in US markets.
Sounds like dominoes falling to me.
F'n politico spinners!
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