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Thanks man, still getting tons of flak for it though.
I consult for many companies, and the one aspect of their business that banks key on is their balance sheet. If their dept/equity ratio is out of wack then the banks get nervous. They need to rid themselves of this bad debt. That's where the accountants come in and help them with the write downs, the removal of bad debt.
Same with the US banking system. They are drowning in bad debt, really, really bad debt, which is making the foreign investors extremely nervous. Selling American notes and debentures is a real tough sell these days, and the Federal Reserve needs these sales. Sure the plan isn't perfect but the aspects of this plan are to make foreign investors not too nervous about the American economy.
The American people have to get out there spending, and the cash has to flow into their hands to do so.
On the other hand, guys like you, me and others in the forum have to start investing.
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