News and Politics | August 19, 2008 | 25 comments

Big U.S. bank to go under says ex-IMF chief

source: http://business.timesonline.co.uk/tol/business/industry_sectors/banking_and_finance/article4...

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Pericles_Lewnes
“We’re not just going to see mid-sized banks go under in the next few months, we’re going to see a whopper, we’re going to see a big one — one of the big investment banks or big banks,”
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25 comments // Big U.S. bank to go under says ex-IMF chief

  • Ragan
  • 1percent
  • damnneargenius
  • mookster_07
  • crob80227
    • 0
      crob80227  

    • A hard slap is necessary. Same thing happened to Paris Hilton. She didn't really improve (well, slightly) until she went to jail (albeit briefly).

      The world of banking is looking a lot like the rock-n-roll lifestyle. These banks have been sniffing lines of coke off of hookers and wiping their ass with thousand dollar bills for soooo long that they literally have no concept of consequences or risk. The tour manager and record label are always there to bail them out and keep the hotel owners from suing for damages. In this case the enabling tour manager is Uncle Sam.

      Instead of enabling bad behavior with a bailout they all could use a stint in jail and then rehab.

    • 4 years ago
  • merasyad
    • 0
      merasyad  
    • Image

    • Just wait. It's going to get worse. There is going to be a time when a few major private banks control everything in the west.

    • 4 years ago
  • crookie
    • 0
      crookie  
    • Image

    • Time to invest in some gold, seriously. Gold is one of the better investments to make when things are getting bad and things have been getting bad ever since Bush Jr. took office. Before then gold was $250 per ounce, now it's $800 per ounce and rising.
      (http://www.galmarley.com/)

    • 4 years ago
  • uroborus8
  • northstar13
  • uroborus8
    • 0
      uroborus8  
    • northstar13:

      wells in is great shape. they had the money to back their loans. companies like country wide borrowed money to lend. they were upside down on their loans just like the people with the mortgages.

    • 4 years ago
  • uroborus8
    • 0
      uroborus8  

    • The feds raised rates last year when all the arms were coming due instead of lowering rates; we could have avoided this $1 trillion problem. Good job Bernanke.

      (This clip is from 2007)

    • 4 years ago
  • sktoday
    • 0
      sktoday  

    • The only reason we are not feeling this is no one uses cash anymore. I challenge you all to use nothing but cash for one month, no credit cards. I bet you will stop spending so much of your hard earned money, and especially on stupid double Mocha's or a new purse. Our grandparent's have the same couch for 30 years because they only spent money on necessities and would save their money. Wait til the debt collectors come calling for America's credit card debt. Think the government will bail you out, not a chance. You are not a corporate donor.

    • 4 years ago
  • Allsunday
  • marlaynek
  • crashboy
  • neckfire
  • nobody04
    • 0
      nobody04  

    • Nice..
      America is burning, suck in that savory, slavery, smell of your freedoms burning.
      Our monetary systems are designed pretty much for endentured servitude. Mmmm, money tastes soooooooo gooood..

    • 4 years ago
  • asherp
  • neocongo
    • 0
      neocongo  

    • "His prediction over the fate of Fannie and Freddie came after investors dumped the two groups’ shares on Monday after reports suggested that the US Treasury may have no choice but to effectively nationalise them."

      Privatize the profits, socialize the losses.

    • 4 years ago
  • asherp
    • 0
      asherp  

    • Yay! More bailouts! More inflation!

      I have a CD that's maturing in about a month.
      I'm going to be converting it to british pounds, and investing it in a high yield account in England.

    • 4 years ago
  • Vierotchka
  • teddy14
  • asherp
    • 0
      asherp  
    • asherp:

      Are they really?

      The pound has been so much more constant than the dollar though...

      Hmm. Maybe euros, or *shudder* chinese yuan... something that will hold it's value over the next few years.

    • 4 years ago
  • bss05g
    • 0
      bss05g  
    • asherp:

      May I suggest the krone, that’s Norwegian currency and it is increasing while may other currencies are decreasing in value. Norway is a peaceful place with a large supply of oil, if they can keep those to factors together their is no limit to what they can do with their economy

    • 4 years ago
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