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country. the capital saying if we didn t bail them out, our financial system might have gone down. with all respect to dick cheney, we ll never know. this much i do know, the argument for shoring these guys up was that some were too big to even think of letting them go down. now banks are even bigger and bank of america, with miller lynch and merrill lynch and countrywide, that s about the biggest. maybe bank of america knows that and finds some really reassurance in that, that my gosh, we re too big to fail. who would let us fail? i think our message should be no, you re not too big to fail. no one is, no matter how big, no matter how influential. i say it s not only because our government is broke, but because continuing to do this stop confirms capitalism is broke. we can not keep passing a tin cup we can t afford, but i suspect we will. that s why i welcome a moody saying no one is too big to
folks run to bonds, their prices soar and interest rates plummet. investors banking on trouble. bank of america, releasing a statement, all but calling the move ridiculous. and i quote, the decision to downgrade the credit rating we is based on factors external to bank of america. moody s states clearly that we have made significant progress improving our cap dallas and liquidity positions, while we disagree, and we believe the ratings should be higher we have been managing carefully and we have prefunded our planned borrowing needs for the years. the upshot? bank of america says we re not shot. not close. plenty of cash on hand so cw50 giving us the finger and to charles gasparino. talk about a combination of storms. guest: i think this rationale is bogus. they are not going to let bank of america fail, the federal government. it just is way too huge and important and has too many deposits. $1 trillion if deposits, really let that fail? what they are not saying is the r
moody s pounced on all banks, period. similarly, but in varying degrees, going after wells fargo and citigroup on the very same day that the federal reserve was confirming what we already knew: things are looking stinky out there. enough to send investors scurring to treasury, sending notes to the lowest yield ever, and that is what happens when folks run to bonds, their prices soar and interest rates plummet. investors banking on trouble. bank of america, releasing a statement, all but calling the move ridiculous. and i quote, the decision to downgrade the credit rating we is based on factors external to bank of america. moody s states clearly that we have made significant progress improving our cap dallas and liquidity positions, while we disagree, and we believe the ratings should be higher we have been managing carefully and we have prefunded our planned borrowing needs for the years. the upshot? bank of america says we re not shot. not close. plenty of cash on hand s