$this->bbcode_second_pass_quote('seahorse', '')$this->bbcode_second_pass_quote('', 'I')t is you who are deceiving everyone, by telling everyone everything is on the verge of collapse, when it isn't.

[seahorse]

$this->bbcode_second_pass_quote('', 'J')ust because some banks are failing and/or need to be bailed out, does not mean the economy is on the verge of collapse.

[copious.abundance]

^
Oh the irony!
$this->bbcode_second_pass_quote('seahorse', 'Y')ou see, this is classic obfuscation by our man Oilfinder . . .

[yesplease]

$this->bbcode_second_pass_quote('seahorse', 'A')lso yesplease, I said Tyler's figures of losses at $150 billion were too low and should be $400 billion, but, in defending Tyler, you link me to an article showing I was way too low. Your article estimates losses at $600 billion.

[copious.abundance]

^
1990 (or was it 1991?) was a recession year. Oil consumption - and thus, production - often declines during recessions. After the recession ended, consumption and production went back up.

The recession back then might have been caused in part by the bank failures, but the bank failures in and of themselves did not cause any oil production peak, that occurred because of a softening economy.

[TheDude]

Bank failures to surge in coming years.

$this->bbcode_second_pass_quote('', 'A')t least 150 banks will fail in the U.S. during the next two to three years, according to a projection by Gerard Cassidy and his colleagues at RBC Capital Markets.

If the current economic slowdown deteriorates into a recession on the scale of those from the 1980s and early 1990's, the number of failures will be much higher this time around -- probably as high as 300 of them, by RBC's reckoning.
That's a massive surge compared to the recent boom years of the credit and real estate markets. From the second half of 2004 through end of 2006 there were 10 consecutive quarters without a bank failure in the U.S. -- a record length of time, Cassidy notes.

[ThereWillBeMoreBlood]

$this->bbcode_second_pass_quote('Jotapay', '')$this->bbcode_second_pass_quote('Homesteader', 'G')eez, I dunno SH, maybe we should stop feeding the troll.

[JohnDenver]

Seahorse insisting that loans=losses, and F&F=banks. Jotopay having OF on ignore for months, even though he hasn't been here for months. Honestly, I don't mean to be critical here, but it creates a bad impression... like you guys are just making stuff up.

Also, why don't you take up OF on his bet Seahorse?

[wisconsin_cur]

$this->bbcode_second_pass_quote('ThereWillBeMoreBlood', '')$this->bbcode_second_pass_quote('Jotapay', '')$this->bbcode_second_pass_quote('Homesteader', 'G')eez, I dunno SH, maybe we should stop feeding the troll.

[Concerned]

$this->bbcode_second_pass_quote('JohnDenver', 'S')eahorse insisting that loans=losses, and F&F=banks. Jotopay having OF on ignore for months, even though he hasn't been here for months. Honestly, I don't mean to be critical here, but it creates a bad impression... like you guys are just making stuff up.

Also, why don't you take up OF on his bet Seahorse?

[Concerned]

IMO it's not the volume of bank failures it's the volume of loans as a percentage of GDP that fail that is the problem.

e.g. 50 banks fail with 2 million bad loans each

4 banks fail with 250 million bad loans each

Thats an order of magnitude difference between the two scenarios. (figures are for illustrative purposes only)

[JohnDenver]

$this->bbcode_second_pass_quote('Concerned', '')$this->bbcode_second_pass_quote('JohnDenver', 'S')eahorse insisting that loans=losses, and F&F=banks. Jotopay having OF on ignore for months, even though he hasn't been here for months. Honestly, I don't mean to be critical here, but it creates a bad impression... like you guys are just making stuff up.

Also, why don't you take up OF on his bet Seahorse?

[tex123]

Excuse my ignorance but does anyone know where I could find information on the number of defaulted mortages? I find it hard to understand that there were so many individuals sucked in by greed that it has caused this bank failure nightmare.

[ThereWillBeMoreBlood]

$this->bbcode_second_pass_quote('wisconsin_cur', '')$this->bbcode_second_pass_quote('ThereWillBeMoreBlood', '')$this->bbcode_second_pass_quote('Jotapay', '')$this->bbcode_second_pass_quote('Homesteader', 'G')eez, I dunno SH, maybe we should stop feeding the troll.

[Ferretlover]

CNN, on this story, says that the banks will reopen Monday as part of the 'Mutual of Omaha Bank.'
Edited to fix order of bank's name.

[Twilight]

$this->bbcode_second_pass_quote('ThereWillBeMoreBlood', 'M')aybe I just sympathize with cornucopian ideas, but the lack of respect shown for OF and the tendency of some of his counterparts to behave like complete jerkoffs really makes me question whether I should listen to the doomer rhetoric.

[shortonoil]

OilFinder2 said:

$this->bbcode_second_pass_quote('', 'T')his won't be the first time a bunch of banks have failed. And it won't be the last, either. Oh well.

[cube]

$this->bbcode_second_pass_quote('Jotapay', '')$this->bbcode_second_pass_quote('Homesteader', 'G')eez, I dunno SH, maybe we should stop feeding the troll.

[DoubleD]

Ignore works beautifully - except when those of you who "play" the game keep quoting the person I have on ignore. Then I am subjected to seeing the posts despite my attempts to properly ignore it completely.

Do we always have to quote everyone's entire posts before responding? If I want to I can scroll up a page and look at a prior post... just quote the portion you are needed to refer to and not the whole dang thing.

[DantesPeak]

$this->bbcode_second_pass_quote('shortonoil', 'N')ever in history have we seen a defaulting debt load of this magnitude, with this kind of leverage, and with a $1000 trillion derivatives market that will create a total world wide melt down when it implodes. This can not be compared to the S&L Crisis, the Asian Contagion or any other financial crisis in modern history. It is many, many magnitudes of order larger. Comparing past crisis to the one now developing, would be like comparing a flea to a bull elephant!