patrick.net

"We don't have the money" my ass.

So deleverage now. Convert residential and commericial real estate debt into equity. The balance sheet can absorb it.

OH boo fucking Hoo the Poor old banks have to do what banks do.
The only worry I see they have is, they greedy bastards have to pay the FDIC their dues, for having the honor to be a Bank. Which obviously the Banks don't want THAT distinction. They like the part where the Government gives them free money, they either may or may not have to pay back. But hate the Shit out of depositing money from their Customers that they with out a doubt have to pay back. And not only that but pay a premium to insure they do.