06-10-2008, 02:01 PM
Okay, I spoke too soon.
Today it is all doom and gloom and my spies in the banking industry aren't happy bunnies. TARP was heavily discounted (this should not be construed to mean it was ignored but rather the financial impact was factored by the market into pricing) even before it was signed into law. Ireland's 100% guarantee of bank deposits has been duplicated by Greece, Denmark and Germany. The Chancellor, Alistair Darling, is now thought to be ready to announce the UK will follow suit.
A soft nationalization of the banking industry is being talked about, with the governments expected to take shareholding stakes in banks rather than continuing to endlessly bail them out, as a means of protecting taxpayers who are to be bled to pay for all this.
Japan is following in the wake of the US an Europe. It's banking industry is going belly-up. In the last 7 days Origami Bank has folded, Sumo Bank has gone belly up and Bonsai Bank announced plans to cut some of its branches. Yesterday, it was announced that Karaoke Bank is up for sale and will likely go for a song, while today shares in Kamikaze Bank were suspended after they nose-dived. Furthermore, 500 staff at Karate Bank got the chop and analysts report that there is something fishy going on at Sushi Bank where it is feared that staff may get a raw deal.
AND above all, even banking insiders now consider that far tougher regulation of the banking and financial industries is now inevitable. Never thought I'd hear that in a month of Sundays...
Add to that dire message that fact that all the market indicators now point to a massive slowdown in the global economy causing fear that a massive depression similar to the 1930's is just around the corner.
.
Today it is all doom and gloom and my spies in the banking industry aren't happy bunnies. TARP was heavily discounted (this should not be construed to mean it was ignored but rather the financial impact was factored by the market into pricing) even before it was signed into law. Ireland's 100% guarantee of bank deposits has been duplicated by Greece, Denmark and Germany. The Chancellor, Alistair Darling, is now thought to be ready to announce the UK will follow suit.
A soft nationalization of the banking industry is being talked about, with the governments expected to take shareholding stakes in banks rather than continuing to endlessly bail them out, as a means of protecting taxpayers who are to be bled to pay for all this.
Japan is following in the wake of the US an Europe. It's banking industry is going belly-up. In the last 7 days Origami Bank has folded, Sumo Bank has gone belly up and Bonsai Bank announced plans to cut some of its branches. Yesterday, it was announced that Karaoke Bank is up for sale and will likely go for a song, while today shares in Kamikaze Bank were suspended after they nose-dived. Furthermore, 500 staff at Karate Bank got the chop and analysts report that there is something fishy going on at Sushi Bank where it is feared that staff may get a raw deal.
AND above all, even banking insiders now consider that far tougher regulation of the banking and financial industries is now inevitable. Never thought I'd hear that in a month of Sundays...
Add to that dire message that fact that all the market indicators now point to a massive slowdown in the global economy causing fear that a massive depression similar to the 1930's is just around the corner.
.
The shadow is a moral problem that challenges the whole ego-personality, for no one can become conscious of the shadow without considerable moral effort. To become conscious of it involves recognizing the dark aspects of the personality as present and real. This act is the essential condition for any kind of self-knowledge.
Carl Jung - Aion (1951). CW 9, Part II: P.14