Buy a Bank, the "in" thing to do

OK, so I got it figured out. On Friday afternoon we buy a bank real cheap, say $10 million dollars, then apply to Treasury for TARP loan of 1 billion dollars to save Hartford Insurance next.

Hartford stock is up 27% the last hour. I knew I should of bought that stock the other day as they nearly went bankrupt.

Old Chinese curse: "May you live in Interesting times"!

http://www.marketwatch.com/news/sto...7161-DD50-4952-8142-C77C5B6591D4}&dist=pfbeta

More news on the deal.

Part of what worries me on this is that, as we discussed before, the removal of laws ( like Glass-Steagal) that separated insurance, investment banks, commercial banks, savings and loans (for mortgage lending), etc. since the 1930's (which worked quite well until the 1980's when we began repealing those laws) , that were all created during the Great Depression to keep the banking system safe from future excesses on Wall Street, and systemic risks like the ones killing us right now, is that we are still heading in the wrong direction right now by further blurring the lines between commercial banking, stock investments, insurance, and savings. American Express is becoming a bank this week too. Now Hartford Insurance. Hell Walmart nearly became a bank last year, but they backed out at the last minute early this year (and I wonder why now?).

Next year if the banks are in crisis again, they WILL be too big too fail, as they will own half the country, banks, insurance, investment brokers, savings and loans all under the same roof, in 10 big banks, after all the mergers.

I think we are just creating another Ma-Bell monopoly.