Saturday and very little news.

I was on another site reading things and have not posted tonight. Let me start by saying that nothing happened in the market on Friday. Now, let me apologize for a mistake I made. I talked about the Bank of England and FDIC being prepared to take over the banks, I just assumed the EU would go along with the same plan and forgot that England is not part of the Eurozone. That was stupid on my part. The infrastructure is not in place for the collapse of the banks yet.

Yahoo - Reuters - Europe unable to break impasse on who pays when banks fail. The article says, "If agreed, the rules would take effect at the start of 2015 with the provisions to impose losses coming as late as 2018." This may sound terrible; but, I would almost prefer it comes sooner rather than later, I guess we will see.

Reuters - Obama taps former IMF official as national security deputy. It is a short article, you should read it. Why are we putting someone whose experience is all in finance in charge of national security? Any guesses?

Yahoo - Rolling Stone - The Last Mystery of the Financial Crisis.