Grasping at straws

This Is The Story That Made The Markets Come Surging Back

Business Insider reports:

EU leaders are actively looking for ways recapitalize European banks in a coordinated plan, according to an FT report.

Finance ministers concluded that banks are suffering from funding concerns and that markets will need to be convinced they can withstand the crisis.

“Capital positions of European banks must be reinforced to provide additional safety margins and thus reduce uncertainty,” Olli Rehn told the FT. “This should be regarded as an integral part of the EU’s comprehensive strategy to restore confidence and overcome the crisis.”

While Rehn and others have admitted to funding problems in European banks before, this time he suggests that Europe — rather than just member states individually — must take “a concerted, co-ordinated approach” to stem bank fears.

German Finance Minister Wolfgang Schaeuble added that Berlin could reactivate capitalization mechanisms put into place in 2008.

The Dow was down over 200 points when this report surfaced at 3:19 PM. It ended up over 150 points on the day. Bank stocks also made a complete turnaround on the news, with Morgan Stanley up over 10% in 40 minutes.

Even though markets are bouncing back, however, the details of any plan to recapitalize the banks are unknown. Any coordinated measures would likely need approval from national governments, something that the finance ministers meeting today can’t promise.

Comment by Wickus:

This is clearly grasping at straws. The financial world is turning into a joke. Somewhere, some EU leaders are LOOKING for a plan and out of desperation stocks skyrocket. Tomorrow the financial world realize that there is no plan, then everything nosedives again. This is just to show how men will grasp at anything that will give them hope in these turbulent times. One day someone will come with a great plan to stabilize the economy and promise great growth IF trade is controlled by marking every human being.

And the world will do it out of desperation, not knowing what will befall them.

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One thought on “Grasping at straws

  1. God’s word and the gospel of Jesus Christ has been freely given, now for many, many years. Man is without excuse. God is s righteous judge, and has been tremendously patient for all the years he has strived with man. Sent many, many warnings. But now they teach there is no creator, things just banged together somehow, which actually is an old gnostic teaching revamped. It is a sad, sorry state for mankind I tell you, and what they teach the children today. I pray that God finishes things up here quickly.

    Eph 3:7 Whereof I was made a minister, according to the gift of the grace of God given unto me by the effectual working of his power.
    Eph 3:8 Unto me, who am less than the least of all saints, is this grace given, that I should preach among the Gentiles the unsearchable riches of Christ;
    Eph 3:9 And to make all men see what is the fellowship of the mystery, which from the beginning of the world hath been hid in God, who created all things by Jesus Christ:
    Eph 3:10 To the intent that now unto the principalities and powers in heavenly places might be known by the church the manifold wisdom of God,
    Eph 3:11 According to the eternal purpose which he purposed in Christ Jesus our Lord:
    Eph 3:12 In whom we have boldness and access with confidence by the faith of him.
    Eph 3:13 Wherefore I desire that ye faint not at my tribulations for you, which is your glory.
    Eph 3:14 For this cause I bow my knees unto the Father of our Lord Jesus Christ,
    Eph 3:15 Of whom the whole family in heaven and earth is named,

    Gen 18:25 That be far from thee to do after this manner, to slay the righteous with the wicked: and that the righteous should be as the wicked, that be far from thee: Shall not the Judge of all the earth do right?

    Abraham pleaded with God, as did Moses, for the people, and that the righteous not be destroyed along with the wicked at Sodom and Gomorrah, which as believers we know what the word says, before the wrath of God is poured out on this earth and the ungodly, the resurrection will happen and we who are alive and remain will be caught up to meet Jesus in the air. Hallelujah and glory to God.

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