Tell Wells Fargo, Bank of America, JP Morgan, and Citigroup to Go to Hell

Aaron Krowne at ML-Implode writes: It is very interesting that the big banks have reversed. This confirms my suspicion that, despite the bailouts, the banks are intensely in pain for cash to meet their obligations, and cannot make themselves further illiquid by accepting IOUs. As far as secondary markets, this whole situation reminds me a lot of Continentals. However you feel about this situation, one thing is for sure. This is a gigantic mess that is getting worse by the day.