Eugene David
...The One-Minute Pundit

Monday, August 06, 2007


"The problems started out small, but it has [sic] grown into a tsunami," a financial strategist at Punk, Ziegel & Co., Richard Bove, said. "Over the next few days, large financial institutions are going to have to prove to lenders that their balance sheets are solid."

Banks that will have to calm investors' fears include Bear Stearns, Lehman Brothers, Merrill Lynch, Morgan Stanley, and Goldman Sachs.
[Emphasis added]

Banks? Those are banks? Why are these banks? How did they become banks? And if they can become banks can't anyone become banks?

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