Banks lose billions

International Forecaster | Feb. 2, 2008

Banks losing billions, and replace it with more money, Citigroup and Lynch holding lion share of market risk, local services slashed, Yahoo! bounces back from layoffs by buyout notice

Banks are losing hundreds of billions of dollars and those in the banking industry tell us only losing $1 billion is considered a good news event these days. This is the kind of sociopathic insanity we have to listen to these days. Then their answer is to give us more money to throw at the problem and we will solve it. They are lying and they simply can't help themselves. They get totally divorced from reality. They are in total denial. We are also told that the infusion of capital from foreign institutions into the banking system to cover up their mistakes is a sign of strength. That is mindless. All the foreigners are doing is dumping dollars, which are the wages of de-industrialization, deregulation, free trade, globalization, offshoring and outsourcing. Better known as the termination of your livelihood. It has made us dependent on capital from the outside world. We have become junk-bond junkies. We are no longer the most productive nation in the world. We have been converted into sniveling, pathetic debtors who have been betrayed by our large transnational conglomerates.

Colleges and universities are concerned about the state of their financial aid programs. Sallie Mae does not deny it has problems, yet its CEO Albert Lord sold 1.2 million of his shares.

Private loans are available but they have variable interest rates that allow for higher rates.

Concerned about amounts of pension money that are being moved to outside managers and into opaque investments such as private equity, two trustees of the Texas teacher retirement system board, want to curb political contributions from investors, who do business with the fund. These trustees, who are both school superintendents and the only educators on the nine-member board, said that the $115 billion fund needs to disclose more information about the firm's it hires to invest its money and how they got the job.

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