"BANKS ARE IN BETTER SHAPE THAN IN 2008"?

YOU WILL HEAR FROM VIRTUALLY EVERYONE THAT "THE U.S. FINANCIAL SYSTEM IS BETTER CAPITALIZED THAN IN 2008"!

IF THIS IS THE CASE:

1) WHY DID THE FEDERAL RESERVE HAVE TO REMOVE RESERVE REQUIREMENTS?

2) WHY HAS THE FEDERAL RESERVE BEEN KEEPING THE REPO MARKET ON LIFE SUPPORT SINCE MID-SEPTEMBER?

3) WHAT % OF FINANCIAL ASSETS ARE OFF-BALANCE SHEET?

4) WHAT % OF LOANS ARE AT RISK OF DEFAULT WITHOUT FED/GOVERNMENT INTERVENTION?

5) WHY ARE FINANCIAL INSTITUTIONS REFUSING TO ENGAGE IN LOAN PRACTICES WITHOUT FULL GOVERNMENT GUARANTEE?

6) WHAT ARE THE BIGGEST BANKS' EXPOSURE TO DERIVATIVES?

7) ARE CREDIT RATINGS ACCURATELY DEPICTING RISK?

THE ANSWERS TO THESE QUESTIONS PAINT A CLEAR PICTURE: HELL NO!