James Surowiecki wonders how many banks will become insolvent.
I’m thinking four… Okay, maybe not four. Maybe just three. Actually… Hmm. All of a sudden, I’m really not sure. Let’s start at the beginning. All right, Bank of America, definitely, right? They’re just a bunch of wild men over there. Okay, so that’s one. Citigroup — that bank’s gone way down in hole. Can’t even pay to name a subway station after its own ballpark. Two. How about TD Bank? There’s no way it can stay afloat giving away all those lollipops. And do you know what Regis and Kelly charge to be on those billboards? Stacks and stacks. So that’s three, right there. All right, how about Ted’s Bank, down on South Cherry Street in East Northport? Those arson charges aren’t helping his business any. I mean, I always stayed away from Ted, but some people didn’t see past his preacher/banker-next-door veneer. Pray for those people. What else? Deutsche Bank only has € 2,202 trillion in assets, so count them out. Sorry, Donny. What’s that? Nothing to do with Deutsche Bank? Hmm. And € 2.202 trillion is actually kind of a lot? All right, the count remains at four. Let’s turn our lens to JPMorgan Chase & Co. Hmm, 228.452 employees, $2,30 trillion in assets, 200+ years in business… looks like trouble to me. I’ll put it on the Danger List — not quite insolvent yet, but getting there. I guess that concludes my wondering about how many banks will become insolvent. I should probably go find out what insolvent means. I failed the shit out of AP Chemistry. Meantime, I’d advise everyone to invest their money in the Surowieckipedia. Get on board now and reap great rewards later, guaranteed. Guaranteed.
(Original post here.)
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