Economic Denial continues....

Here is the Problem with the bail outs. It does nothing to make a company profitible. All the banks and finacial houses have no way to make the profits that they used to. The paper shuffling game is over. So many outfits are dead men walking. In the bubble economy of fiat money we borrowed and loaned and spent, and now it cannot be paid back. So to hide the losses the people are forced to borrow and give to the Zombie companys via the Fed or the treasury.

Its prolonging what needs to happen.

J.P. Morgan profit falls more than 75%

NEW YORK (MarketWatch) -- J.P. Morgan Chase said Thursday that its fourth-quarter profit fell 77.6% amid continuing write-downs and a deteriorating consumer environment.

A $1.1 billion benefit from merger-related items helped the firm post a $702 million, or 7 cents a share, fourth-quarter profit, compared to a profit of $3 billion, or 86 cents a share, in the year-ago period....


Bank of America to get billions more in U.S. funds
Cash to help bank digest Merrill acquisition, report says, while shares hit 17-year low

NEW YORK (MarketWatch) -- Bank of America shares lost more than a quarter of their value Thursday and traded at 17-year lows after a report that the government is dipping into its $700 billion bailout war chest to help the firm digest its acquisition of Merrill Lynch & Co.

The Wall Street Journal reported late Wednesday that the Treasury Department decided to use money from its Troubled Asset Relief Program, or TARP, to help Charlotte, N.C.-based Bank of America because it feared the deal's failure could affect the stability of U.S. financial markets, the report said......