Seen on the street in Kyiv.

Words of Advice:

"If Something Seems To Be Too Good To Be True, It's Best To Shoot It, Just In Case." -- Fiona Glenanne

“The Mob takes the Fifth. If you’re innocent, why are you taking the Fifth Amendment?” -- The TOFF *

"Foreign Relations Boil Down to Two Things: Talking With People or Killing Them." -- Unknown

“Speed is a poor substitute for accuracy.” -- Real, no-shit, fortune from a fortune cookie

"If you believe that you are talking to G-d, you can justify anything.” — my Dad

"Colt .45s; putting bad guys in the ground since 1873." -- Unknown

"Stay Strapped or Get Clapped." -- probably not Mr. Rogers

"The Dildo of Karma rarely comes lubed." -- Unknown

"Eck!" -- George the Cat

* "TOFF" = Treasonous Orange Fat Fuck, A/K/A Dolt-45,
A/K/A Commandante (or Cadet) Bone Spurs,
A/K/A El Caudillo de Mar-a-Lago, A/K/A the Asset., A/K/A P01135809

Monday, September 29, 2008

Wachovia is Gone

Wachovia Bank is being acquired by Citigroup.

Good deal for the Feds, since Wachovia was not long for this Earth in the first place. Citigroup presumably paid a very small fraction of what Wachovia was once worth. This won't draw any cash from the FDIC insurance fund.

As far as competition goes in the banking sector, it pretty much sucks, now. There are very few big banks left. The last time I checked, the FDIC's "deathwatch list" was reputedly to have over 100 banks on the list.

We could conceivably wind up with just two or three big banks and maybe a handful of local banks in each market area, which would be a banking oligarchy. That is not good for anybody and if there is any doubt that the free market is still alive, it would drive a stake through its corpse.

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