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Are banks going to collapse soon in this economic climate?

jumperabv3
jumperabv3 Posts: 1,231 Forumite
Part of the Furniture 1,000 Posts
in Budgeting & bank accounts
Are we going to see banks collapsing soon in this economic climate?
What about the big ones in the US? Like Bank of America and Citibank who lost in one day of this week around 20% of their shares?

Comments

  • jonesMUFCforever
    jonesMUFCforever Posts: 28,898 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    No - if you have any spare cash now is the time to invest!
  • bengalknights
    bengalknights Posts: 5,022 Forumite
    Part of the Furniture 1,000 Posts
    Highly unlikely that any uk bank will go under, in the us smaller regional banks may.
  • ses6jwg
    ses6jwg Posts: 5,381 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    Yes, yes they most certainly will.

    I reccomend queueing up outside your local branch as soon as possible and withdrawing all your money.
  • jumperabv3
    jumperabv3 Posts: 1,231 Forumite
    Part of the Furniture 1,000 Posts
    ses6jwg wrote: »
    Yes, yes they most certainly will.

    I reccomend queueing up outside your local branch as soon as possible and withdrawing all your money.

    haha :rotfl:
  • Mikhail
    Mikhail Posts: 262 Forumite
    Part of the Furniture Photogenic Combo Breaker
    jumperabv3 wrote: »
    Are we going to see banks collapsing soon in this economic climate?
    What about the big ones in the US? Like Bank of America and Citibank who lost in one day of this week around 20% of their shares?

    Ohhh well you can invest in gold or open Swiss bank account, obviously in Swiss franks.

    Of course banks will be collapsing, but not before the government.
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    jonesMUFCforever wrote: »
    No - if you have any spare cash now is the time to invest!

    I would caution against this. Share prices have fallen for good reasons.
This discussion has been closed.
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