Epistemockery

Sunday, September 28, 2008

Banking Crisis -- Selling Assets


I previously wrote of Fortis Bank and their abandonment of piggy banks. The little piggy offended some clientele. Now Fortis is back in the news because they are in financial trouble like everyone else who sought profits in financial paper. (http://www.onenewsnow.com/AP/Search/Business/Default.aspx?id=266028) The promises on this paper has done more than pop like a bubble, it seems to be the ocean eroding foundations. (http://www.youtube.com/watch?v=H5tZc8oH--o = I just like the music...)

Fortis seems to be like everyone in this financial crisis, "Where can I find something to sell so I can have some liquidity to meet my obligations?" Haven't we all had a few thoughts of whether we should sell that music equipment (or whatever...)?

But where does a BANK go to sell it's assets these days? What assets does a bank have? (Besides all those unused piggy banks?)

In the background of my "black & white Christmas movie thoughts," I can hear George saying, "It's not here! We don't have your money HERE! It's in your homes, in your businesses, it's in all the things that we've helped you to build. We don't have CASH! We've invested in your lives, and you are paying it back over time with interest."

Well, guess what? Everyone's homes and businesses and lives are worthless now!! They we're valuable assets at one time, but now they are devalued and since everyone has THIS kind of asset, only someone foolish like the government is going to buy them! STUCK LIKE A PIG!

PS. Seems like the video sites are compiling their perspectives:
http://www.youtube.com/watch?v=usvG-s_Ssb0
http://www.youtube.com/watch?v=_MGT_cSi7Rs
http://www.youtube.com/watch?v=LSqhrHIfJV0&feature=related
http://www.youtube.com/watch?v=3QBRIsCkGQ0

1 Comments:

  • http://www.youtube.com/watch?v=hnzLbfuBu9I&feature=player_embedded

    Spanish Muslim traumatized by teacher who said the word, "ham."

    By Blogger RevK, at 9:40 PM  

Post a Comment

<< Home