Thursday, October 27, 2011

Banks Much More Successful at Panhandling than #OccupyWallStreet

While the Wall Street Journal is reporting "'Occupy Wall Street' Protesters Debate How to Deal With $500,000 in Donations":

Protest's Money Problem 
Occupy Wall Street May Have to Appoint Leaders to Deal With Its Donations
Once a rag-tag group that relied on donated pizzas for sustenance, the protesters camped out in a Lower Manhattan park are grappling with a new problem: how to manage and spend the nearly $500,000 they've raised in five weeks....MORE
Meanwhile at Yahoo Finance's 'Breakout' we read:
..."What we've done is send a bunch of banks in Europe out panhandling, cup in hand, looking to shore up their capital ratios," he tells me. The deal does much the same thing to European officials who now turn to China and Japan to increase the European Financial Stability Facility (EFSF) to the $1.4 trillion level they believe is needed to calm markets....
The banks will raise the money.