Tuesday, October 14, 2008

Banking System "In Crisis" Continues to Pay ... Dividends

It's all perfectly possibly and admissible, amidst the worst capital shortage, we are told, in the history of the Republic.

It may be astounding, but ... these are "bold steps".

AIG paid dividends ... right up until ... bankruptcy.

I don't mention it, just to be a creep. There is a lot of pressure on dividend policy people to 'keep paying out'. All they need is some visible, external, public pressure to provide the political cover they need to take the steps that they may privately concede are prudent.

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