http://business.timesonline.co.uk/tol/business/industry_sectors/banking_and_finance/article4844104.ece
Doomed because they cannot raise new capital
because greed sucked the housing industry dry
No work no loans no need!
The bailout is a waste of money!
Unless you help "The People"
No matter what you do will fail!
Washington's $700 billion (£386 billion) bailout is doomed to failure and will see banks returning to the White House before Christmas for new funds, a leading debt specialist has told The Times.
Banks in New York believe that the Washington bailout fund has failed to address the problems facing the world's biggest capital market.
While Congressmen bickered over the terms of the deal, experts on Wall Street pointed out that the plan fails to help bankers raise new capital, the bloodline of banking.
Instead, Chris Whalen, head of Institutional Risk Analytics on Wall Street, said: "The problem with the deal is that it actually crystallises losses. The banks are going to have to deal with the issue that they have sold at a massive discount. On top of that, they are having to face up to the fact that they cannot raise new money. This is the biggest issue right now, that banks can't raise new cash."
