Still feel miserable. T & S is back at the quack, hopefully finding out she doesn't have pneumonia. This has been the worst week health wise in quite a while, but soldier on we must.
I am going to get on to the subjects mentioned a while back on Friday week, but for today I'm just going to try to keep it simple and follow up on the subject of the banks, in particular DeutscheBank and the various curious emerging relationship with governments all over. Don't really feel up to much else but there's enough here for food for thought.,
For example, ever wonder why the proposed fine for DB was leaked so early in the process? Neither can I. Usually, the number gets out but only after a long bout of negotiation giving both sides a "win" in the ultimate proceeding. Not this time: Justice just let it out there. A bit of payback for the Apple tax nonsense (note the similarity in the numbers)? Probably not. Justice is too ham-handed to think up something like that...certainly before sending message..."We are not amused..." no, that one has been used. Bugger the entire banking sector in the equity market? Makes no sense. Not smart enough to realize that something like that could be the result anyway. Something to do with politics? Hummmm. Might be something there. Justice is nothing if not politics these days. Sending a message? To Whom? The American Voter? Like, "we're looking out for YOU!" OK, I'll buy that, should we move on?
Another thing to think about is just what did DB do that is worth $14 Billion in fines? So far, Justice hasn't uttered a peep except in generalities. Then again, I've been trying to figure that out for a while now as it relates to the entire sector, but the best thought I've had while trying to recover is the irony of the entire thing. From the Truth in Lending legislation a-way back when, to a lack of supervision, to the mishandling of Lehman, to Dodd/Frank, to the demand for far higher capitalization which in many cases has been negated by governmental fines, from new legislation which overnight made business lines at financial institutions unprofitable, to the constant meddling with the markets by central banks culminating in the insanity of negative interest rates which is a slow death to the banking system and now to this complete insensitivity as to what a stray word might produce by way of a repeat of 2007-08, I keep wondering--seriously--whether there is anybody left standing who knows what he (or she) is doing? So far, a goodly portion of this nonsense of the past 15 years has had a substantial foundation in governmental politics and now these clowns are telling us that they are the solution with the vast irony being that having demonstrated an inability to exercise the functions assigned to them in the past, these fonctionnaires conclude that the solution is provide themselves with even more functions by way of legislation conceived in the abstract and given birth in this charnal house of reason to which we refer as the Congress of the United States. Irony is hardy a good enough word.
As you can see, I haven't been feeling too well, but good news has just arrived: sinus infection not pneumonia for the bride. A new day is dawning. Tomorrow.
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