IndyMac Seized...

[mnewcomb]

Here it comes...

 

[buffalokid777]

How long til washington mutual suffers the same fate?

 

[ronpaulblogsdotcom]

Wamu or Wachovia are next in line me thinks. I hope it aint Citibank.

 

[buffalokid777]

Wamu or Wachovia are next in line me thinks. I hope it aint Citibank.

I think yer right on Wamu and Wachovia.......but Citibank and Bank of America is going too methinks

we'll see who is right in 1 year

 

[cien750hp]

i think i remember when reading about indymac that there was doubt about their stability for a while. is there anywhere to find what other banks may be in the brink of failing too?

 

[jonahtrainer]

i think i remember when reading about indymac that there was doubt about their stability for a while. is there anywhere to find what other banks may be in the brink of failing too?

ALL the banks are.

 

[cien750hp]

ALL the banks are.

hahaha i know all the banks are failing i just wanted to know if any others are close. but i just read some more and i guess a senator published a letter about them failing before they did. no one could have ever predicted this comming...

 

[rapidtrends]

hahaha i know all the banks are failing i just wanted to know if any others are close. but i just read some more and i guess a senator published a letter about them failing before they did. no one could have ever predicted this comming...

Actually there are a few people who did predict this was coming

 

[danberkeley]

Actually there are a few people who did predict this was coming

Actually, Rothbard would tell you that bank who practice fractional-reserve banking are, by nature, insolvent and that they go bankrupt eventually.

 

[krazy kaju]

Actually, Rothbard would tell you that bank who practice fractional-reserve banking are, by nature, insolvent and that they go bankrupt eventually.

Exactly. Another problem is that the high rate of inflation means essentially negative returns on many loans that banks made when the dollar was strong.

These two factors combined don't make the overall picture too bright. The great paradox is that in order to keep many of these banks from failing, inflation will have to accelerate as the Fed might be forced to lower interest rates and act increasingly as the "lender of last resort."

Unfortunately, things have to get worse before they get better, the Fed should let these banks fail.