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Ben: " U S Banks Are Likely To Fail In The Months Ahead "

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http://www.ft.com/cms/s/0/f966fc3c-e647-11...00779fd2ac.html

Bernanke predicts bank failures

By Krishna "Hare-hare" Guha in Washington

Published: February 28 2008 22:23 | Last updated: February 28 2008 22:23
Some small US banks are likely to fail in the months ahead, Ben Bernanke said on Thursday, warning that his country faced a more difficult situation today than in the aftermath of the dotcom bust in 2001.
“There will probably be some bank failures,” the Fed chairman told the Senate banking committee in his second day of biannual testimony to Congress.
He said the banks at risk were “small and in many cases de novo [new] banks that are heavily invested in real estate in localities where prices have fallen”.
But he said: “I do not anticipate any serious problems” at any of the big banks, which played the most important role in the US financial system.

Dominoes? This will add little to collapsing consumer confidence. IMO, NR will be the first of a number to go here.

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http://www.ft.com/cms/s/0/f966fc3c-e647-11...00779fd2ac.html

Bernanke predicts bank failures

By Krishna "Hare-hare" Guha in Washington

Published: February 28 2008 22:23 | Last updated: February 28 2008 22:23
Some small US banks are likely to fail in the months ahead, Ben Bernanke said on Thursday, warning that his country faced a more difficult situation today than in the aftermath of the dotcom bust in 2001.
"There will probably be some bank failures," the Fed chairman told the Senate banking committee in his second day of biannual testimony to Congress.
He said the banks at risk were "small and in many cases de novo [new] banks that are heavily invested in real estate in localities where prices have fallen".
But he said: "I do not anticipate any serious problems" at any of the big banks, which played the most important role in the US financial system.

Dominoes? This will add little to collapsing consumer confidence. IMO, NR will be the first of a number to go here.

The sooner they let a few go, the quicker we can all get back to the good times.

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  • 293 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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