Friday, August 10, 2012

Warning To U.S. Banks

An exclusive from Reuters, dated August 10, 2012:
U.S. regulators directed five of the country's biggest banks, including Bank of America Corp and Goldman Sachs Group Inc, to develop plans for staving off collapse if they faced serious problems, emphasizing that the banks could not count on government help.

The two-year-old program, which has been largely secret until now, is in addition to the "living wills" the banks crafted to help regulators dismantle them if they actually do fail....
More at the above link.  Read it all.

This is not a recession. This is a DEPRESSION!

1 comment:

Unknown said...

Hi AOW.

Lately i've started using the "New October Revolution" tag if you add up everything that seems the most likely outcome.