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2009-08-28 — blogspot.com
"Still, it was when I read yesterday's FDIC report, and comments on it, that I started thinking Howard was talking about change that I, so to speak, could believe in. Not only did the FDIC state that their troubled banks list went to 416 ‘clients', that list has little meaning unless they act on it. More significant is, as Huffington Post noted, that over 25% of all 8500 US banks, for a total of more than 2100 of them, are unprofitable today. "
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tvsterling at 22:57 2009-08-29 said:
I sincerely hope Davidowitz is wrong because the type of disruption he is predicting will almost certainly lead to widespread extremism in the country. The Northeastern megabanks & Wall st in general will not give up their stranglehold on the country. Washington is piling up sandbags around it's firmly entrenched denial. Bernanke is stomping around on us regular citizens with his golden clownshoes. Government is being gutted by revenue loss at just the time when beaten down citizens will need help most. Government's many failures in the crisis will be like Hurricane Katrina on steroids. It don't look good. Permalinkadd a comment | go to forum thread
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