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The Portal Alliance – The Demise of the United States Economy

Posted on | April 13, 2009 | No Comments


Early in February, Subprime Blogger reported on an issue that many of you did not even know about: the Portal Alliance.  Comprised of the Who’s Who of who does NOT know how to run a bank, the portal alliance could very well be the demise of the United States economy.  The short list of this group of misfits includes:

  • Bank of America – BAC
  • Barclays Capital – BCS
  • Citi – C
  • Credit Suisse – CS
  • Deutsche Bank – DB
  • Goldman Sachs – GS
  • JP Morgan – JPM
  • Merril Lynch – bought out by BAC
  • Morgan Stanley – MS
  • UBS – UBS
  • Wachovia Securities – bought out by Wells Fargo

Isn’t this a group of banking cerebral assassins?  Just last week we learned that Bank of America CEO Ken Lewis is thinking about stepping down as he is not “wedded to being Bank of America’s Chairman.“  This comes less than a month after Mr. Lewis said that the first two months of 2009 were profitable and Bank of America would pay back TARP money by year end.  I called bullshit then and I call bullshit now.

Ken Lewis, you have lied to America AGAIN.  Was this comment in March to pump up your stock price because it sure did!  You got a quick a quick 100% gain from your cute little comments.  I hope that money ruins EVERY single aspect of your life as I am sure you strategically sold BAC stock after this quick run up.  I will be waiting anxiously to see that TARP money paid off.  And Mr. Lewis, if you could PROVE that you have been profitable in ANY aspect of business I would like to see it in writing!

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