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US bank 'to fail within months' - BBC

24

Comments

  • Cranston_2
    Cranston_2 Posts: 197 Forumite
    CYBERCIDERSAVER wrote: »
    What the great capitalist economy of the US of A would NATIONALISE a bank????

    You are probably younger then me.

    1984, Continental Illinois National Bank and Trust Company. I remember it well.

    Wamu is also a high probability candidate
    "Brevity is the soul of wit and it is also the essence of effective communication" Rush Limbaugh.
  • Cranston_2
    Cranston_2 Posts: 197 Forumite
    CYBERCIDERSAVER wrote: »
    But I thought David Cameron said nationalising a bank was not the right thing to do. In fact didn't he prefer to let Lloyds buy it and extend the benefit of the governments loan to N Rock to them. ie Allowing a private co. to sponge of the state! Got enough spongers in this country as it is without having major banks doing the same!!

    As my tutor said on my first day of business school "you can't have capitalism without capital".

    Yes the banks have been fools. Yes they should be punished - sack more boards members for a start (are you listening RBS shareholders for one). But a major bank failure might cause millions of people to be lose their jobs. I don't want that.
    "Brevity is the soul of wit and it is also the essence of effective communication" Rush Limbaugh.
  • Walletwatch
    Walletwatch Posts: 1,055 Forumite
    Frankly this looks to be a comment from a self-important economist who is desperate to make headlines. How irresponsible to go out and make a statement that some big investment bank is going to shut down, stoking speculation of this magnitude!!! Scaremongering and nothing else is what I would call it. The pity is so many people will invariably give it more importance than it deserves - its all over the news, even credible channels like Bloomberg TV are giving this undue amount of coverage...
    It's always the grass that suffers, irrespective of whether the elephants are fighting or making love !!!
  • ad44downey
    ad44downey Posts: 2,246 Forumite
    You can't say that. If his views had no credibility then the markets would not have reacted as they did today.
    Krusty & Phil Madoff, 1990 - 2007:
    "Buy now because house prices only ever go UP, UP, UP."
  • Cranston_2
    Cranston_2 Posts: 197 Forumite
    Walletwatch wrote: »
    How irresponsible to go out and make a statement that some big investment bank is going to shut down, stoking speculation of this magnitude!!! ...

    You have a good point.
    "Brevity is the soul of wit and it is also the essence of effective communication" Rush Limbaugh.
  • ad44downey
    ad44downey Posts: 2,246 Forumite
    Better forewarned I say
    Krusty & Phil Madoff, 1990 - 2007:
    "Buy now because house prices only ever go UP, UP, UP."
  • Tassotti
    Tassotti Posts: 1,492 Forumite
    same old same old
  • Walletwatch
    Walletwatch Posts: 1,055 Forumite
    Cranston wrote: »
    My guess is, if it happens it will be Citi.

    I am directly impacted if it is. What do you base your premise upon?
    It's always the grass that suffers, irrespective of whether the elephants are fighting or making love !!!
  • baby_boomer
    baby_boomer Posts: 3,883 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    Guardian

    Fannie and Freddie can't raise money as investors run scared of the housing market - so it's looking like the US government may have to effectively nationalise the US mortgage industry :eek:
  • Cranston_2
    Cranston_2 Posts: 197 Forumite
    Walletwatch wrote: »
    I am directly impacted if it is. What do you base your premise upon?

    Data on their level 3 assets.
    "Brevity is the soul of wit and it is also the essence of effective communication" Rush Limbaugh.
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