Thursday, February 19, 2009

More abyss

US, UK, Eurozone Banks Face Collapse: Global Banking System Insolvent

For those who look, a strong case can be made that European banks are as bad off if not much worse off than their US counterparts.

Posted by sold 2 rent 1 @ 12:40 PM (845 views)
Please complete the required fields.



6 thoughts on “More abyss

  • rocket robbie says:

    I am probably one of the few people in the Uk that want the pound to stay low against the euro. I work in transport and our orders have increased 30% from last year because we are that much cheaper than our european competitors.

    Reply
    Please complete the required fields.



  • Wall Street / London caused the mess and originated most of the toxicity. Eurozone banks were obvious candidates to be recipients of the hot potatoes Wall Street passed around. Western European banks broadly control those of eastern Europe. The former are struggling to deleverage and survive – what chance they’ll make credit available to the east? Problems are pushed eastwards.

    Reply
    Please complete the required fields.



  • Icarus-
    Frankly I’m not convinced that the problems originated in wall street and london. Eurozone banks created plenty of problems for themselves. Their mortgage lending to eastern europe was every bit as idiotic as subprime lending or northern rock 125% “together” loans (many mortgages in eastern europe are denominated in foreign currency such as euros – imagine if, in addition to recklessly fuelling the property boom, hbos had half its loans in euros). For some time it has been clear that the party in eastern europe was heading for a very bad hangover.

    Reply
    Please complete the required fields.



  • Why do people keep posting this cultist pish?

    Reply
    Please complete the required fields.



  • Sorry comment above under wrong article, should have been the other one. But I’ve had enought of all this end times shite.

    Reply
    Please complete the required fields.



  • @3 – I’d argue that Wall Street investment banks originated most of this financial crisis. Maybe we can take this up in another post.

    Reply
    Please complete the required fields.



Add a comment

  • 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

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes:

<a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>