Saturday, June 28, 2008

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Financial Firms are Cracking!

Courtesy of The Mortgage Lender Implode-o-Meter

For a list of "imploded" banks, banks experiencing massive write downs and general distress click here.

A report by the Royal Bank of Scotland's research team warns that the S&P 500 index of Wall Street equities is likely to fall by more than 300 points to around 1050 by September as "all the chickens come home to roost" from the excesses of the global boom, with contagion spreading across Europe and emerging markets.

"The Fed is in panic mode. The massive credibility chasms down which the Fed and maybe even the ECB will plummet when they fail to hike rates in the face of higher inflation will combine to give us a big sell-off in risky assets," he said.

Nouriel Roubini Warns of Another Broker-Dealer Run

Where is your money?


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