European shares open higher; banks lead charge (Arent they broke?)

European shares open higher; banks lead charge (Arent they broke?)

www.reuters.com

FRANKFURT, Feb 23 (Reuters) - European shares opened higher on Monday led by financials such as Royal Bank of Scotland (RBS.L) and UniCredit (CRDI.MI) amid receding fears that the U.S. government would have to nationalise big banks.

At 0810 GMT, the FTSEurofirst 300 .FTEU3 index of top European shares was up 1.5 percent at 746.38 points, having fallen to a six-year low on Friday.

Royal Bank of Scotland was up 13.5 percent after news that it would create a non-core division for unwanted assets.

UniCredit rose 12.2 percent after its chief executive said he trusted that the bank had reached its 2008 net profit target of 4 billion euros ($5.03 billion).

The DJ Stoxx bank index .SX7P was up 3.1 percent and the insurance sector index .SXIP gained 2.6 percent.

(visit the link for the full news article)

I am amazed at the flurry of news stories comng out this past week. Now on top of all of the crisis talk this...how can beyond broke banks be leading the charge? I mean really these banks the world over are all BROKE and NEEDING BAIL OUTS how on Gods green earth can they lead the charge of ANYTHING?
It seems that everytime there is another government take over of some bank etc. these stories hit the waves in a furry, totally burrying and chance of the truth being told. All of these people have been shouting from the roof tops since last year about needing bail out after bail out and now we are to believe they are the ones leading the charge to a recovery? Exactly who's recovery are we watching here... ours or theirs?
This now truely makes no sense what so ever anymore.


www.reuters.com
(visit the link for the full news article)

People are high. Banks aren't worth more than they were last week. They are as bad as they were...

This rally will be a short one. Probably the only one for the week.

Yeah I watched this it started as soon as it opened.
The Vultures were there picking up where they left off on Friday.
Until someone reinstates the uptick rule this is going to continue even worse.
It allows an individual or a group of individuals to completely control the markets and hence control the destiny of the whole world.
Uptick rule doesn't stop market manipulation it just doesn't make it as attractive because its not as easy to do.
The SEC is corrupted to the core, how people can sit by and watch it happen and not do anything is astounding.

reply to post by Vitchilo


You see that is my point, they are as bad as they where last week! If not WORSE. Yet all these MSM stories about how they are bringing us back and at the sametime demanding more monies for bail outs...?....
I don't think it's the people that are smoking crack;I think it's the Governments thinking that we are ging to keep falling for this hook line and sinker. How many more times can they recycle this bs story before people get it?

reply to post by BorgHoffen


You know I was sitting here reading your reply and when I got to the control issue the first thing that shot into my had was.. Who is going to war now?
They would know ow wouldn't they?
.


missing letters I really need to cut my nails

[edit on 23-2-2009 by xoxo stacie]