Mere Rhetoric also weighs in...
I don't know why I would want to bank on my phone, but some people might find it useful.
Google is now offering a beta of secure search...
or to be blown up; that is the question...
"At every inflection point of the financial crash, governments stepped in
and announced that they had solved the problem. The crisis began in
July 2007; central banks stepped into provide liquidity in August, and
the Fed cut interest rates in mid-September . The consensus then held
that the crisis was over and that bank stocks were cheap. Then came the
Bear, Stearns failure in March 2008, in which the remnants of the firm
were sold to J.P. Morgan. Financials briefly soared, and the analyst
consensus was that bank stocks were cheap—just before Lehman Brothers'
failure in August 2008. The Bush administration announced a $700 billion
bank bailout in September 2008, and financials rallied, before crashing
again in early 2009, amidst rumors of a general bank nationalization.
More bailouts followed, and this time, an extended rally.
Each bailout requires more leverage, and puts at risk a larger and larger compass of the financial system. The central banks with their combined muscle crushed all the short positions in the market this morning. But time is against them; and now that the market has had a peek behind the curtain, things will never be the same."
Today is No Plastic Bag Day here in Barbados: Paper, plastic or canvas?