[roccman]

Bottom-dollar buyout end of line for Coast Bank - Florida

[roccman]

The Financial Supervisory Authority of Norway (Kredittilsynet) has revoked the license of brokerage Terra Securities, the company involved in selling disputed commercial papers to Norwegian townships.

[virgincrude]

I caught up with this late, but still worth reading now:

LEAP/E2020 now estimates that at least one large US financial institution (bank, insurance, investment fund) will file for bankruptcy before February 2008, sparking off bankruptcies among a series of other financial institutions and banks in Europe (in the UK especially), in Asia and in various emerging countries. According to an expression by Blackstone president Tony James's (1), a financial « black hole » was formed after the US subprime crisis.

The triggering factors for a major financial institution to go bankrupt are now so powerful and warning clues so numerous that, according to our researchers, the probability that it happens within three month now reaches 100%. Probabilities are as high that the US authorities will try to introduce a reimbursement protection-net in order to avoid panic from spreading throughout the entire US financial system (2); but the size of the bankruptcy will immediately hit the most exposed financial institutions operating in the US and in the rest of the world. Countries whose financial operators are the most linked to US financial operators will be on the frontline: United Kingdom, Japan, China in particular (3).

Global Anticipation Bulletin

[roccman]

Here it comes...

"A market that has taken 30 years to build has completely imploded in a matter of months. Lenders have been squeezed savagely. We've moved into a different era," he said.

[Twilight]

They can cut the interest rate and banks still won't trust each other.

[evilgenius]

Hell of a place to be for the Fed, really. If they allow the bad assets to realize at zero, like most should, then so much money will disappear that it will engender deflation. If they stop it with what they have at their disposal then it could cause runaway inflation. I'd be looking for the Fed to do what benefits the super wealthy. Well, to try and do what benefits the super wealthy. I'm not sure that the only way to benefit the super wealthy isn't just to buy them a little more time.

In the meanwhile I'd be looking for changes in any laws that prevent foreign ownership of key US assets, like financial institutions, infrastructure plays, commercial and private real estate, defense contractors, etc. The great foreign buyout will only forestall things for about a year or so. It will cripple Joe Public. It will decrease demand for oil certainly, how much is anybody's guess, however.

My guess is that if a currency is being prepared to supplant the US dollar as oil hegemon it is the Chinese yuan. Too many of the big wigs in and out of the neocon regime have cozy relationships with China, relationships that benefit from China rising and the US tapering down. There are faultlines that still exist between Old Europe and Britain, between Old Europe and the US. To a lesser extent between Briatin and the US. Those faultlines would be exacerbated if the Euro were to become the next oil hegemon. The yuan is safer viewed from that perspective. The biggest problem is keeping control of the changeover mechanisms. The Chinese can have the world if they will just let the rich Americans run it for them, otherwise the rich Americans will slip it from their grasp.

[roccman]

Option One to close doors

Looks like H and R Block is the next shoe to drop.

Got January puts?

[roccman]

Massive Layoffs at Citi Bank today...

[roccman]

National City Mortgage Shutting Down...??

[ColossalContrarian]

Are we expecting any bank closures this Friday afternoon?

[roccman]

$this->bbcode_second_pass_quote('ColossalContrarian', 'A')re we expecting any bank closures this Friday afternoon?

[IndigoMoon]

I apologize upfront if this thread is for just major banks.

Cleveland's National City, regulators agree on oversight for bank with bad-loan problems....

Full Story on CNN Money

[Delphis]

http://www.feedba.cc/live/banks.html Wonder why Wachovia is not listed...yet.

[TheDude]

Nukes and tombstones for icons, nice.

[GoghGoner]

$this->bbcode_second_pass_quote('Delphis', 'h')ttp://www.feedba.cc/live/banks.html

Wonder why Wachovia is not listed...yet.

D.

[Delphis]

Do you have any idea why Gogh,

The "seizure" of WM seems quite similar to WB doesn't it?

Hmmm.

[GoghGoner]

$this->bbcode_second_pass_quote('Delphis', 'D')o you have any idea why Gogh,

The "seizure" of WM seems quite similar to WB doesn't it?

Hmmm.

[the48thronin]

latest news is that Citibanks deal has not yet been done, and now wells fargo is also bidding to BUY... They all seem to think the bail out will pass and they will get a real boost from owning the bad debts...bought at fire sale prices!

[Delphis]

Yep,

Looks like $7 per share which is almost a 100% premium to the close yesterday!

Just like the BofA purchase of Merril at $19 per share, another huge premium!

This is a mess, and it looks like this bill is going to pass which just dilutes the problem further and stays off the inevitable...WOW!~