Click graphic to enlarge.
The guys and gals at Zero Hedge have done it again. First, they exposed the FED's control of the stock market, now laid bare are the bankers -- Wall Street's financial analysts, rushing to upgrade each others' stocks with impunity.
They're all involved:
- Goldman Sachs
- Bank of America
- Morgan Stanley
- Citigroup
- Wells Fargo
- JP Morgan
- Deutsche Bank
As explained by Zero Hedge:
The [above] graphic shows just how prevalent the ponzi upgrade game has become - among the top 7 banks which have staggering (and in many cases taxpayer subsidized) balance sheets and hold all the keys for the next major leg down, there is just one sell rating (and even that is simply between a European analyst and a European firm). Which begs a new spin on an old question: if a ponzi scheme develops before our eyes and everyone is blissfully ignoring it, has a ponzi ever occurred (we refer you to the SEC for the answer)? -- Full Story
Now you understand why I read Zero Hedge? Great work! Again.
~ ~ ~
0 comments:
Post a Comment