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6 Votes
18 Comments
Large U.S. bank collapse ahead, says ex-IMF economist | Reuters
News Type: Event — Seeded on Tue Aug 19, 2008 10:39 PM EDT
Article Source: Reutersadvertisement
The worst of the global financial crisis is yet to come and a large U.S. bank will fail in the next few months as the world's biggest economy hits further troubles, former IMF chief economist Kenneth Rogoff said on Tuesday.
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{"commentId":2510334,"authorDomain":"headinthegame"}
the worst is yet to come
{"commentId":2510334,"threadId":"335278","contentId":"1764289","authorDomain":"headinthegame"}
- 1 vote
#1 - Tue Aug 19, 2008 10:39 PM EDT{"commentId":2510676,"authorDomain":"transfer"}
Yeah, I've been waiting for that other shoe...
China and Japan are sitting on the bulk of our IOUs and they are understandably nervous. Dubai and Saudi have large cash reserves.
Will we open another credit card to pay the one we maxed out?
Will U.S.A. = "global whore"? I wonder what kind of tricks our new pimps are going have us do just to keep our name and our flag?
{"commentId":2510676,"threadId":"335278","contentId":"1764289","authorDomain":"transfer"}
- 3 votes
{"commentId":2510436,"authorDomain":"ezeques"}
a large U.S. bank will fail in the next few months
But our government will bail them out and the CEO will retire with $100 million severance package.
Or was that a Latvian bank he was talking about?
{"commentId":2510436,"threadId":"335278","contentId":"1764289","authorDomain":"ezeques"}
- 5 votes
#2 - Tue Aug 19, 2008 10:48 PM EDT{"commentId":2511843,"authorDomain":"JoulesBeef"}
no need to even retire anymore.. just ask the ceo of fannie mae
zero repercussions these days.
{"commentId":2511843,"threadId":"335278","contentId":"1764289","authorDomain":"JoulesBeef"}
- 2 votes
{"commentId":2511016,"authorDomain":"rapax"}
whats the U.S. dollar backed up by again?
{"commentId":2511016,"threadId":"335278","contentId":"1764289","authorDomain":"rapax"}
- 1 vote
#3 - Wed Aug 20, 2008 12:02 AM EDT{"commentId":2511369,"authorDomain":"fallenmitten"}
Oil?
{"commentId":2511369,"threadId":"335278","contentId":"1764289","authorDomain":"fallenmitten"}
- 1 vote
{"commentId":2511847,"authorDomain":"JoulesBeef"}
"faith"
lol
{"commentId":2511847,"threadId":"335278","contentId":"1764289","authorDomain":"JoulesBeef"}
- 1 vote
{"commentId":2511985,"authorDomain":"hotlink"}
Fraud.
{"commentId":2511985,"threadId":"335278","contentId":"1764289","authorDomain":"hotlink"}
- 1 vote
{"commentId":2514104,"authorDomain":"fallenmitten"}
All true.
{"commentId":2514104,"threadId":"335278","contentId":"1764289","authorDomain":"fallenmitten"}
- 2 votes
{"commentId":2516889,"authorDomain":"rapax"}
well that makes me feel better
{"commentId":2516889,"threadId":"335278","contentId":"1764289","authorDomain":"rapax"}
- 1 vote
{"commentId":2571029,"authorDomain":"headinthegame"}
why, by the "full faith and credit of the US" of course! hahahahah
{"commentId":2571029,"threadId":"335278","contentId":"1764289","authorDomain":"headinthegame"}
{"commentId":2512016,"authorDomain":"dcstone01"}
Sure this sounds bad, a big bank failing. My concern and it's what really wasn't discussed so much, was the consolidation of the little banks. I read stats the other day that said there were 7,000+ banks in US in 2000, there are now in the range of 4,000+. Or a loss of 100+ a week. I'll find the link, I saw it here on the NV. But, this will only continue.
I like to keep up with that, I worked for a large bank (WF) that grew by buying other cities banks. They would want to grow in new areas and they would get a 'footprint' by buying the locals. Now WF is one of the top 5 US banks. I can tell you now, based on their model and from working within that company, WF will not be that bank to fail.
Good seed.
{"commentId":2512016,"threadId":"335278","contentId":"1764289","authorDomain":"dcstone01"}
#4 - Wed Aug 20, 2008 2:40 AM EDT{"commentId":2512088,"authorDomain":"hotlink"}
Yeah, I know... WF is strong, so is BofA. I'm thinking CitiBank. They can't be saved. They're in negative territory all over the map. And it won't be long before stock holders realise it for what it is.
{"commentId":2512088,"threadId":"335278","contentId":"1764289","authorDomain":"hotlink"}
- 1 vote
{"commentId":2512282,"authorDomain":"levato76"}
honestly citibank is so large that if it fails so does our banking system
just letting you know their market share is too large to be allowed to fail or our economy is dust and with it the worlds economy
so its not going to be americas largest bank by market share
we need more small regional banks, we need to spread out the potential damage to far far smaller increments
any further consolidation of banks is a danger to our country quite literally
oh and dc stone math isnt a strong suit for you is it? by the numbers you gave thats about 7.5 banks per week
{"commentId":2512282,"threadId":"335278","contentId":"1764289","authorDomain":"levato76"}
{"commentId":2516850,"authorDomain":"dcstone01"}
I was using the stats that the article I read, I know it wasn't consistent.
{"commentId":2516850,"threadId":"335278","contentId":"1764289","authorDomain":"dcstone01"}
{"commentId":2519219,"authorDomain":"dcstone01"}
Here is a link to the FDIC that gives some stats on the bank mergers since 1995
C:\Documents and Settings\DEBORAH\Desktop\QBP State Tables.htm
Hopefully this will answer some questions. It is adjustable, at my end at least, you can choose between various commercial or state banks and dates.
I have been looking for the article I read and will post it when I can find it.
{"commentId":2519219,"threadId":"335278","contentId":"1764289","authorDomain":"dcstone01"}
- 1 vote
{"commentId":2519658,"authorDomain":"transfer"}
dc,
I think that's on your computer. Is the information somewhere on this link?
{"commentId":2519658,"threadId":"335278","contentId":"1764289","authorDomain":"transfer"}
- 2 votes
{"commentId":2520947,"authorDomain":"dcstone01"}
Yeap, sorry about that, I am not a techy yet with the links. but I had a 3 column chart with 2008, 2008 and 1995 numbers so you could see the differences in the numbers. It breaks it down by commercial and state banks as well. Good reports source. Thanks. IRE
ps. I figured people could do a copy/paste with the address since I saved it as a website???
{"commentId":2520947,"threadId":"335278","contentId":"1764289","authorDomain":"dcstone01"}
- 1 vote
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