Goldman Sachs fell 25% so far today
This is the lowest price it has ever carried since its Initial Public Offering.
Morgan Stanley dropped 46%
NY state is letting banks borrow money from themselves, and the FED helped private banks set up a special 70 billion dollar private cush fund, while taking over AIG for 85 billion yesterday.
In 11 days, The Government has taken over both of the two largest mortgage lenders in the World, The fourth largest investment Bank, and the Largest Insurance Company in the World.
in less than two weeks.
Of the $6.84 Trillion in bank deposits, the total cash on hand at banks is a mere $273.7 Billion. unless im retarded at math, thats 4%. so something as close as 2-3% of the population could cause a massive bank run and economic failure, unless of course they increase the cash supply artificially, which would lead to massive hyperinflation.
the other 96% of deposit obligations are deposited in off ballance SIV's Freefall morgatge markets, AltA fraud loans and other three card monty, lets hide the money schemes designed to make banks more money, but in fact make financial solvency impossible.
not unlikely, impossible
at least the way i can see it.
Wednesday, September 17, 2008
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