OK! King George said he was going to stop hosting the Wall Street pity party, but it keeps getting worse, and besides, my friends need to be fully aware of the upcoming financial storm. Move your cash to Credit Unions.
UBS (UBS): $37.4 billion
Citigroup (C): $21.2 billion (expected further loss of $18 billion in Q1, 2008)
Merrill Lynch (MER): $19.4 billion
Morgan Stanley (MS): $12.9 billion
Deutsche Bank (DB): $7.1 billion
Bank of America (BAC): $5.7 billion
Royal Bank of Scotland (RBS): $5.6 billion
Credit Suisse (CS): $4.7 billion
Goldman Sachs (GS): $3.7 billion
Lehman Brothers (LEH): $3.3 billion
Barclays PLC: $3.3 billion
JP Morgan (JPM): $2.9 billion
Bear Stearns (BSC): $2.75 billion
HSBC Holdings: $2.1 billion
2 comments:
If these losses continues, there will be a run on banks that I don't think the Fed can stop
The Fed will stop a domestic money crunc. The big problem is the there is way more US currency outside of US borders than the fed can control. When the foreigner increase their trading of dollars for Euros The dollars value will fall drasitcally which will cause oil prices to go up, which will cause more inflation here & abroad.
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