Socialism of Wall St. at tax payers’ money. 6’c missing said Robin Trehan
Robin Trehan said, bank crisis can be averted by changing the accounting rules from mark to market. That will be just stupid to raise the value of the assets artificially. We have to keep the current mark to market method. That will be phony accounting. One cannot throw good money with bad money. We should make the bad companies fail.
Market will rally with this bailout but it will not be long term. Financial market will not improve with this in medium and long term. Robin Trehan, big banks are missing the 6 C's of Credit, Character, Cash Flow, Collateral, Conditions and Capital, and Customer. When the six 6’c are missing how are you going to improve the market with the bailout. It is just absurd and socialism for the wall street at the cost of tax payers moneys.
