Coming U.S. Bank Crisis?

[Issachar]

Perhaps ... (http://www.bloomberg.com/avp/avp.htm?N=av&T=Roubini%20Says%20U.S.%20at%20Start%20of%20%60Ver y%20Severe'%20Bank%20Crisis&clipSRC=mms://media2.bloomberg.com/cache/vmUV7PR4JGX8.asf)

Issachar

[BornAgain123]

Perhaps ... (http://www.bloomberg.com/avp/avp.htm?N=av&T=Roubini%20Says%20U.S.%20at%20Start%20of%20%60Ver y%20Severe'%20Bank%20Crisis&clipSRC=mms://media2.bloomberg.com/cache/vmUV7PR4JGX8.asf)

Issachar

Lehman is in very big trouble, FYI. Bank of America(and another major one) said they would take over it ONLY if the government shares responsibility. IOW-they'll take over it only if the government takes on the risks.

[listening for the trumpet]

I heard Barclays Bank withdrew from buying Lehmans

[Issachar]

I heard Barclays Bank withdrew from buying Lehmans They did (http://online.wsj.com/article/SB122139688846233147.html).

The fate of Lehman Brothers Holdings Inc.'s darkened early Sunday afternoon with Barclays PLC, the sole remaining bidder for the 158-year-old Wall Street firm, telling federal regulators that it is walking away from a transaction, people familiar with the matter say.

This will be interesting to watch develop this evening and especially the markets reaction tomorrow.

Issachar

[Issachar]

Both Barclays and Bank of America expressed interest in buying Lehman and were negotiating hard, initially insisting that the government provide financial support. But federal officials were adamant that no public money be used — a big point of contention because many of the top Wall Street executives believe that their banks, which have each written down tens of billions of dollars in assets, do not have the capacity to lead the rescue on their own.

The prospects of a deal involving Bank of America appeared to fade as talks progressed Saturday and it became clear that the government would not stray from its position. more (http://www.nytimes.com/2008/09/14/business/14lehman.html)

Issachar

[Issachar]

I find it interesting that the large banks involved here (big business); those that should be the epitome of "free enterprise", are not willing to go ahead with their plans unless the taxpayer is put at risk even more. "We would like the benefits if it works but if it doesn't work, we want the American public to have the risk." Wonderful bunch of folks those bankers. Maybe if the government moved from it's position and did act as the safety net again, any benefit those acquiring banks would get would be shared with all the tax payers? Hey, if the government backs them, then it is "our" investment too, right? :aha faaaaaatttttt chance!

Imho, let the free enterprise system do it's thing. Let it all come down to reality. Of course that won't happen as this is all a part of the NWO construct, but it would be interesting if it could happen.

Issachar

[Issachar]

"There's no question that this is in the process of outstripping anything I've seen, and it still is not resolved and it still has a way to go," he said in an exclusive "This Week with George Stephanopoulos" interview.

Greenspan also noted, "let's recognize that this is a once-in-a-half-century, probably once-in-a-century type of event." More (http://blogs.abcnews.com/politicalradar/2008/09/greenspan-to-st.html)

[Jacksmom]

the big banks do not have the money to bail anyone out... i work for citigroup they are assett rich & very cash poor, they would be all over these companys if they had any money...as it is they do not even have the promised pension that tenured employees are supposed to get when they retire, i think citigroup is really going to be in for a even tougher time, i think parts will be sold off, i think i will be on the unemployment line before too long...

[BoGo]

the big banks do not have the money to bail anyone out... i work for citigroup they are assett rich & very cash poor, they would be all over these companys if they had any money...as it is they do not even have the promised pension that tenured employees are supposed to get when they retire, i think citigroup is really going to be in for a even tougher time, i think parts will be sold off, i think i will be on the unemployment line before too long...

By "asset rich" I assume you mean they hold alot of mortgages, business loans and credit card receivables on their books. I'm sure some of it may also be derivative contracts. They only appear "asset rich" because they have not yet been written down to market value.

While the mortgage crisis is only about half through at this point, commercial real estate is just beginning to tip over. I'm seeing alot more vacant store fronts in strip malls these days. At the same time, those homeowners that can no longer tap the home equity have turned to credit cards. Just today at the grocery store a woman ahead of me paid on her credit card (she didn't enter a PIN, she had to sign the slip) for a $12.75 bill. I can only hope she was paying this way to build up airline miles.

With regard to this financial tsunami, I believe we're only up to our knees at this point and when ALL these components come together it'll be WAY over our heads.

:pray Praying for you Jacksmom. I'm in the homebuilding industry, so I know what it feels like to have that axe hanging over your head. Stay strong, Abba has plans to bless you.

[Homesick777]

While the mortgage crisis is only about half through at this point, commercial real estate is just beginning to tip over. I'm seeing alot more vacant store fronts in strip malls these days. At the same time, those homeowners that can no longer tap the home equity have turned to credit cards.

With rising unemployment, when the credit card and auto loan delinquencies rocket upward next year, it will be time to run for the hills, for many will have completely run out of sources of funds to pay anything.

With regard to this financial tsunami, I believe we're only up to our knees at this point and when ALL these components come together it'll be WAY over our heads.

When the financial tsunami reaches up to our noses (it could happen in a week's time), the world will be quite susceptible to any man who comes along spouting unending promises to return us to a time of unprecedented prosperity in exchange for our sworn complete allegiance to him without a shot ever being fired. Yes, by that time, hopefully we will be floating WAY over the heads of those who will have to experience earth's tribulations.

We just can't be sure how much of this God intends for us to endure. Just remember that fire hardens the sword.