“All the major [US] banks are basically insolvent at this point. Until that changes and until credit gets flowing again, it’s hard to see how we have any real recovery.” – David P. Prokupek, chief executive of the Denver portfolio manager Geronimo Partners in Bloomberg article Thursday.
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It could be years before recovery starts. It has been years for the excessive credit spending. The solution to the problem is not more credit spending that the government is promoting. This problem will not be solved overnight. It will take time. The question is how do we want to correct the problem that has been created; and the blame can be laid at Bush...he deserves it; he started it. However, I fear that Omaba is following Bush but in much bigger way, and that is not real change! Just more of the same...only faster!
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