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I tried Google and ask jeeves but could not find a
link to the actual speech. If someone does could they please post the
link here.
regards,
tbr
Ben wrote:
no but i am sure you can google it
----- Original Message -----
From: "Dan C" <dan.danc@xxxxxxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Monday, March 13, 2006 11:19 AM
Subject: Re: [RT] Bernanke warning
> Do you have a link for this?
>
>
>
> Ben wrote:
>> *Most people didn't hear it last week. Hear what?*
>>
>> *The "Bernanke bell" rang loud and clear.
>>
>> Last Wednesday, Federal Reserve Chairman Ben Bernanke said the
following
>> at the Independent Community Bankers of America Conference:
>>
>> "The rapid growth in commercial real estate exposures relative
to
>> capital and assets raises the possibility that
**risk-management
>> practices in community banks may not have kept pace with
growing
>> concentrations and may be due for upgrades**."
>>
>> *** This means that they are going to start putting pressure
on "bad
>> debt loan reserves" at banks. It also means that as this
develops,
>> loans are going to be harder to get and will cost borrowers
more. _This
>> will create a contraction problem in the economy and increase
the
>> chances that a recession will be the induced resul_t. Over
time, this
>> will also create a problem for bank earnings as they are
forced to
>> allocate more funds for higher risk loans. {NOTE: I used to be
on the
>> Board of Directors at The Regulatory Assistance Center, Inc.
... so, I
>> know what the Bernanke statement means. What he is telling
banks is
>> this: "Start cleaning up your loans, get tougher, and start to
allocate
>> much higher bad debt reserves, or we will do it for you during
your next
>> bank examination."}*
>>
>> **** This warning and action from Bernanke supports why the
Fed is
>> flooding liquidity into the system. **The Federal Reserve has
pumped
>> money at an 8%+ growth rate during the last two months, and
accelerated
>> this to a growth rate that is over 20% during the last two
weeks. This
>> affects the market in a short term positive manner, but this is
>> occurring with increasing negative market divergence and
institutional
>> selling.
>>
>> *
>>
>>
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