I had a stray thought the other day when I read about Wells Fargo’s amazing luck; being able to purchase Wachovia. And that thought was… if the banking industry was about to go into free fall and we had to quickly put together a bailout package to save the nation, how did Wells Fargo have the wherewithal to pull off such a stunt? And then our own bank, US Bank? They’re still around and not making a peep about how they are standing on the edge of the abyss. Perhaps they’re not? Could it be that there are quite a few banks out there that didn’t risk their fortunes?
We wouldn’t be seeing a ‘manufactured’ crisis, would we?
No comments:
Post a Comment