Wednesday, October 15, 2008

More dire warnings

Karl Denninger is predicting a bond and currency crash in the US if banks aren't forced to disclose exactly what they do and don't have, so we can let the insolvent go down and release the liquidity into the right channels.

I hope the right path is taken, because my brother lives there.

By the way, in body language terms I read Hank Paulson as a hell of a bully. He looks like a totalitarian danger to me.


Nick Drew said...

hell of a bully

yes, a genuine trading-floor archetype

recalling that the major benficiaries of the Katrina 'relief effort' were organised crime, one wonders with trepidation where the $ 700 bn is headed

Denninger clearly thinks it's a crony job

Elby the Beserk said...

Many would characterise the governments of both the US and the Uk as "organised crime". Indeed, it would seem to be the only thing that they are good at organising.

There will be trouble ahead. No wonder the government feel they need to know our every move and thought. Anal probes next.

Sackerson said...

Hi, Elby. Probes, eh? I think it was the Earl of Essex who said to Elizabeth's court, "As for them that criticise me behind my back, my back hath an answer for them."

dearieme said...

I'll leave the body language to you; it's those cruel glasses that seal it for me.

Old Prof said...

He was CEO of Goldman Sachs, and worth $500M when he came to the Treasury 2 years ago. Perhaps there's stuff under his tenure that he's worried about?