Friday, Sep 21, 2007
“The new capitalist gods must love the poor – they are making so many more of them.”
smirkingchimp.com: Are The Banks In Trouble?
The hope of every central bank is that the real problem can be kept from public view. The truth is that the public---even professionals on Wall Street---have no clue what the real problem is. They know it has something to do with derivatives, but none of them realize that it’s more than a $20 trillion mountain of unfunded, unregulated paper that has just been discovered to not have a market and, therefore, no real value… When the dollar realizes the seriousness of the situation---be that now or sometime soon---the bottom will drop out.” Jim Sinclair, Investment analyst
Posted by chris @ 03:44 AM (150 views) Add Comment
1 Comment
- If you do not have an admin password leave the password field blank.
- If you would like to request a password allowing you to add comments and blog news articles without needing each one approved manually, send an e-mail to the webmaster.
- Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
- Please note that any viewpoints published here as comments are user's views and not the views of HousePriceCrash.co.uk.
- Please adhere to the Guidelines
1. iguana said...
WOW!
I wonder, is this the basis of the outline of the banking system revealed to swervin by the big banks that made him poo his pants bigtime and do his deposit guarantee U turn?