Monday, April 5, 2010

Look what they’ve done to my bank Ma! .....

They placed an 8 percent capital requirement on it when lending to our local small businesses and entrepreneurs who give us jobs.
And then they required from it only 1.6 percent in capital when lending to anything rated AAA... and even zero percent when lending to an AAA rated sovereigns...
And all this while they should know that my bank has really no business at all lending to AAA rated borrowers or sovereigns....
Ils ont changé ma banque Ma!...
And so they led my bank to throw my deposits after some unexplainable AAA rated securities backed with some unknown tranches of low quality subprime mortgages...
And now, when the AAAs are not the AAAs the credit rating agencies had opined them to be, my bank must come up with more capital....
And since my bank can´t it must stop lending to the local small businesses and entrepreneurs who had nothing to do with creating this crisis.
Look what they’ve done to my bank Ma! .....