Posted on 08/18/2008 3:39:06 PM PDT by Kozman
Billionaire vulture investor Wilbur Ross this morning told CNBC's "Squawk Box" that a thousand banks could fail before the financial crisis is over...
A thousand banks will mean billions upon billions in losses
And the impact on the credit crunch could be severe...
(Excerpt) Read more at economicpolicyjournal.com ...
This panic-inducing story was floated last month too.
Sounds like something a “vulture” might promote just before going long on financial stocks.
Why I'm shocked that you would even suggest that such a dishonest thing could be spoken of on an outlet of the heroic MSM. Especially one owned by General Electric, famous straight-shooter and Dudley Dooright of the corporate world. Cynical persons such as yourself are the one of the reasons why Barack Hussein Obama is having such a hard time these days. Tisk Tisk.
That would be pretty stupid. He might say it before going short, but not long.
“This panic-inducing story was floated last month too.”
http://2.bp.blogspot.com/_FiNhXIv5StE/SKRIFnL9TzI/AAAAAAAAB-k/7eqYA_ZKC3I/s1600/BORROW.png
well, somebody is in trouble, as evidenced by the chart in the above link.
What that link gives me an "Error 404." I can only guess at what kind of trouble that implies.
Now, if we could just get that error code to come back for every address in, say, Iran...
A little historical perspective: in the 1920s-—before the Great Depression-—a thousand banks A YEAR failed, often several thousand.
Classic movie to be sure...
It sure was.
Umm more S&L failed in the 1980s. USA hardly noticed. This is just more hysteric panic from the rabidly ignorant.
Got that right , a classic. We all have folks that lived through that.
Happened once, ?
“What that link gives me an “Error 404.” I can only guess at what kind of trouble that implies.”
See, the collapse is already underway.
try this.....
http://benbittrolff.blogspot.com/2008/08/really-scary-fed-charts-july-more-of.html
sorry about that.
Umm...Yep, you’re right.
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