From the FDIC web site. (hat tip to Obseedian of MarketTickerForum. Nice catch thanks. The whole section is worth reading.)
"National City Company repackages bad Latin American loans from its affiliated bank and sells them to unknowing investors as new securities.
This is one of the deals that initiate the Glass-Steagall Act of 1933."
FDIC: Banks in the Roaring 20's
By way of reminder, the banks will be trotting the VISA IPO out the door tonight and tomorrow.
"'I beg you, father, send Lazarus to my family, for I have five brothers. Let him warn them, so that they will not also come to this place of torment.’ Abraham replied, ‘They have Moses and the Prophets; let them listen to them.’ No, father Abraham,’ the rich man said, ‘but if someone from the dead appears to them, they will repent.’ And Abraham said, ‘If they do not listen to Moses and the Prophets, they will not change and repent, even if someone were to rise from the dead.’” Luke 16:27-31
LE CAFÉ AMÉRICAIN
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Soupes, Potages et Bouillons
Potage traditionnel, consommé sophistiqué
Canapés et Apéritifs de la Maison
mardi et jeudi à la table du propriétaire
Salade Niçoise
English Breakfast
Gigot d'Agneau
Légumes rôtis
OEUFS BÉNÉDICTE
pas de McMuffin
Schweinshaxe
Girolles
Homard
CÔTE DE BOEUF
aux champignons et pommes frites
GÂTEAU AU CHOCOLAT FONDANT
Clafoutis
aux cerises
GÂTEAU AU FROMAGE
aux-bleuets
