Bank crisis gaining steam. More banks are on the troubled list. “The deterioration of banks is accelerating.”
Unintended consequences. UK property owners, faced with a new tax on unoccupied rental buildings, are having the buildings demolished. They can’t rent them and don’t want to pay the tax.
Dumb and dumber. Lehman may form a new company and buy junk mortgages from itself. This, they fiendishly think, will trick people into thinking they no longer own the TGFKAI (Toxic Garbage Formerly Known As Investments.) I’m guessing it won’t work.