Need link, please: Nouriel Rourbini grouping Wells Fargo and J.P.M. with Bank of American and Citi

[Mike 03]

There was a post on this recently but I failed to bookmark it, and I'm having trouble locating the article/interview/source via search engines.

If anyone could help, I would be grateful.

Thank you.

[Mike 03]

1. Self-Kick, in case anyone should see this and know. NT

[Lebam in LA]

3. I was hoping you would have had a reply by now

[Lebam in LA]

2. Another kick

[Cerridwen]

4. I found an article at

Forbes though not yet the DU link.

Is this the article?

Merging two zombie banks is like having two drunks trying to help each other stand up. The JPMorgan Chase takeover of insolvent Bear Stearns and WaMu; the Bank of America takeover of insolvent Countrywide and Merrill Lynch; and the Wells Fargo (nyse: WFC - news - people ) takeover of insolvent Wachovia (nyse: WB - news - people ), all show that the too-big-to-fail monster has become even bigger.

In the Wachovia case, you had two wounded institutions (Citi and Wells Fargo) bidding for a zombie, insolvent one. Why? They both knew that becoming even bigger than too big to fail was the right strategy to extract an even greater bailout from the government. Instead, with the nationalization approach, the government can break up these financial supermarket monstrosities into smaller pieces to be sold to private investors as smaller (better) banks.

This "nationalization" approach was successfully undertaken by Sweden, while the current U.S. and U.K. approach may end up looking like the zombie banks of Japan that were never properly restructured and ended up perpetuating the credit crunch and credit freeze.

more of article at link

edit to fix my link and because I can't freaking type today. sheesh.