Saturday, February 16, 2008

Run on banks imminent:

Note the second numeric column. $40 Billion, has been since 1913, by law. This is the 17% of outstanding loans banks are required to keep in reserve. Then notice it suddenly drops to $198 million and then the report lists the banks as minus $8.7 Billion, something which has never happened before. Now its minus $18 Billion.

NW Gov Elliot Spitzer warns of "Financial Tsunami".

OK. I warned you. Now I've got to go run a 50K in Moab.

No comments: