Meredith Whitney's predicting more bank writedowns, $44 billion, in the fourth quarter of this year. We love Ms. Whitney here at Monkey Business. She has her own special category on the blog and we have given her her own song. With that in mind I have to say;
"Meredith, leave this mundane stuff to the lesser analysts that you have left in the dust. Think about the true great ones, like say Bob Dylan. He could have spent the rest of his career writing and singing folk songs. Instead of that, he went a total different direction and went electric, blazing a new path. Meredith, you've proven you rock the house as a bank analyst, there's little else you can really do but play the same old songs in that genre because its going to be the same thing, quarter after quarter. Branch out girl! Shift gears until it's time to call the bottom for the banks. Take a walk over to the biotech or commodity producer analysts, throw them out of their chairs and start writing about that. Your fans will probably hate it, just like Dylan's original fans did. However, once you show your brilliance in that arena, you will triple your fan base and become a true legend. Until then it's just this little ditty from Aerosmith;
I'm seeing counterparties contiue to get crimped on their ability to get financing. My credit dept and many others are starting to give us more restrictions when dealing with some of our playmates. I'm starting to feel like a toddler on a leash at a petting zoo.
Are banks just merry-go-rounding their capital injections back into treasury bills? This, again, is some f***ed up repgunant s***. I feel a Cramer circa 2007 rant brewing.
Posted by: RPB | November 26, 2008 at 01:08 PM