From Richard Russell's Dow Theory Letters:

After the much-publicized but secret stress tests, it turns out that a number of our top 19 banks need another $75 billion if they want to stay alive.

What's happened to the incompetent bank presidents and financial officers of these cursed banks? Have any of them been fired? Heck no, because the US is being run for the bankers. If a few big banks go down, the US will cease to be as a nation. Right? And that goes for the bank presidents.

Now it turns out that the president of the most important of the Fed banks, the prez of the New York Fed has quit, due to the fact he had a "relationship" with Goldman. Yeah, he used to be a Goldman director. Am I living in the United States of Goldman?

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More great stuff from Richard Russell:

Richard Russell: Why you always lose money in stocks

Richard Russell: Bernanke wants mortgage rates at 3-4%; "massive assault"

This Richard Russell quote is a must read