Showing posts with label US Banks Are Bankrupt. Show all posts
Showing posts with label US Banks Are Bankrupt. Show all posts
Friday, July 2, 2010
Monday, June 21, 2010
A MUST LISTEN: Bob Chapman : Every major Bank in The US and Europe is Broke
Bob Chapman on The Sovereign Economist 16 June 2010
From The International Forecaster of the 16th June 2010 : "US banks are fighting to preserve the use of securities that help them appear better capitalized, even as their investments in each others notes perpetuate what one regulator calls a downward spiral of losses. The cross-ownership, largely unnoticed by bank supervisors who generally discourage the practice, was made possible by a Wall Street innovation like the ones that allowed subprime mortgages to flourish. Small lenders were able to sell trust-preferred securities, known as TruPS, because investment bankers packaged them with those issued by dozens of other financial institutions."
From The International Forecaster of the 16th June 2010 : "US banks are fighting to preserve the use of securities that help them appear better capitalized, even as their investments in each others notes perpetuate what one regulator calls a downward spiral of losses. The cross-ownership, largely unnoticed by bank supervisors who generally discourage the practice, was made possible by a Wall Street innovation like the ones that allowed subprime mortgages to flourish. Small lenders were able to sell trust-preferred securities, known as TruPS, because investment bankers packaged them with those issued by dozens of other financial institutions."
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