Regarding the investment & commercial banking thing, I suspect that the reason it is being blamed is purely partisan politics.
John McCain’s economic advisor Phil Gramm pushed through the reform allowing banks to do both, so Obama and his legions of patsies in the media are going along with it, even though it makes no sense.
Kit
The “universal banks” have not failed YET but if they do…
Kit
With references to global warming and the IPCC. Events may have overtaken them as NASA is holding a teleconference tomorrow with the ominous tag line:
Regarding the investment & commercial banking thing, I suspect that the reason it is being blamed is purely partisan politics.
John McCain’s economic advisor Phil Gramm pushed through the reform allowing banks to do both, so Obama and his legions of patsies in the media are going along with it, even though it makes no sense.
The “universal banks” have not failed YET but if they do…
With references to global warming and the IPCC. Events may have overtaken them as NASA is holding a teleconference tomorrow with the ominous tag line:
“The sun’s current state could result in changing conditions in the solar system.”
An onset of an Ice Age would put the current financial crisis in perspective. 😉