Today's President Obama's statement talking about GM shed out more values in financial firms than in the automobile-related companies as a whole. The administration will not rule out the possibility of letting go of a company into bankruptcy. His stern message brings back the FEAR once again to the near-bankrupt financial firms that they should not be happy too soon. Surprisingly, for these couple of weeks, the attitude of the administration is to drop money to whoever needs it. Today the story line has changed. Today Mr.Obama is pulling out the stick not the carrot. The banks need to undergo stress test to determine if they can stand a chance to survive this macro onslaught without breaking our taxpayers' wallet.
Jeff Tan
No comments:
Post a Comment