Thursday, August 27, 2009
Max Keiser: Us Banking Collapse in a few weeks?
1000 Banks to Fail over the next 2 years
The US banking system will lose some 1,000 institutions over the next two years, said John Kanas, whose private equity firm bought BankUnited of Florida in May.
“We’ve already lost 81 this year,” he told CNBC. “The numbers are climbing every day. Many of these institutions nobody’s ever heard of. They're smaller companies.”
Failed banks tend to be smaller and private, which exacerbates the problem for small business borrowers, said Kanas, who became CEO of BankUnited when his firm bought the bank and is the former chairman and CEO of North Fork bank.
1000 Banks to Fail LINK
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I have long said that the process of bank consolidation will go stealthily in an exponential curve accelerating dramatically to the end when only JP Morgan/Chase and their subsidiary Bank of America is left standing.
ReplyDeleteThen these two will fuse into
The Bank East Atlantic Transpacific Solidation
Whatever....ain't gonna happen
ReplyDeleteHey Mr. EA, I have a question for you, Why don't you occasionally cover some COMMODITIES MARKETS(Chicago Mercantile Exchange) news stories, the futures markets in certain commodities I think would indicate a more complete view of the future collapse?(pork bellies..tee hee)Good stuff you post here.I think Max Keiser is off his rocker tonight.
ReplyDeletehttp://en.wikipedia.org/wiki/Pork_belly
http://pencildicksvstheworld.blogspot.com/
http://news.tradingcharts.com/futures/
Close this blog now now now....what a waste of time
ReplyDeleteWhen any bank closes, whether large or small, guess what? It's the banking industry shrinking. When the US govt. shovels piles of dollars onto the burning flames of large banks just to keep them running another year, guess what? It's the banking industry imploding. If its the bankers who run the world then they are most certainly losing control and we should be cheering. Each time a bank consolidates another one of these failed banks it is acquiring toxic assets that current bargain prices may only partly reveal. If anyone disagrees and is looking for a place to invest, why not put your money on big U.S. financials and see how it does.
ReplyDeleteWrong. Max is dead on.
ReplyDeleteAbsolutely correct 100%. Hyperinflation coming and will kill off retirees, IRAs, pensions, etc. Debtors rewarded, savers crucified. The largest heist the world has ever seen is coming, soon.
A million dollars in a bank will be reduced to pennies.
Max is the only person with enough balls to attack Obama's employer/handler head on, Goldman Sachs. No one else has had the guts to do that they I have seen. A++ props to him for that.
Bank holidays coming as the dollar plunges. Yes, as Max said, this entire process will only take a week or two. Millionaires, stockholders, wiped out, locked out, finished.
We are an empty shell of a country that has been bled dry. Our balance sheet is a nightmare, the worst in the world.
There is no hope for a sustained turnaround. The next step in off the cliff into the abyss. Prepare the best you can.
Wasn't the FDIC report yesterday suppose to crush this market. Another date comes...another date goes...ho hum
ReplyDeleteThe FDIC report has been delayed and is supposedly to be released sometime between now and the 31st.
ReplyDeleteSo to say the date has come and gone is not true. I am skeptical about a bank run though--we're a nation of debtors, not savers. Who really has money in the bank to withdraw?
I'm getting tired of standing on line behind bank surfs using their debt cards to pay for things they otherwise couldn't afford.
ReplyDeleteEven if it is $200 it is a lot to someone who needs that money for groceries.
ReplyDeleteThe bankers are NOT losing control at all. We are moving towards a new global order which requires our current order to be destroyed FIRST! We are in the process of our current system being destroyed so the bankers and other elites can roll out their new system which will give them even further control over every aspect of our lives.
ReplyDeleteSure they are.
ReplyDeleteOne doesn't gain control by giving up control. Think about it. Each time a bank flops that money is going into thing air where it belongs. There is no retrieving/consolidating it.
The social order, primarily an over-sized technology-driven beauracracy, derives its power through the economy and the economy is shrinking. Therefore, social control will also have to shrink in some fashion too, even in the wake of fascism, when those in charge struggle to hold on to the power they exert over others. Intentionally bringing this about would not be the kind of risk rulers would take just to smash the 'control infrastructure'they would have already supposedly put in place.
No kidding. CCT's input is misguided. No offense; everyone is entitled to their opinion.
ReplyDeleteOur owners are doing here exactly what they did to Argentina. They are taking two steps back to take ten steps forward. In the meantime, we get clobbered economically. They are the ultimate long term planners. They don't care if they take a hit now if it means ultimate control down the road.
Bankers = smart
ReplyDeleteSheeple = dumb
Bankers = enriched with new powers, control and authority to rule over the minions
Sheeple = future dumpster divers, led to believe the perpetrators are the saviors
It's always ironic to get comments like these from your type.
ReplyDeleteDid you ever hear about any of the rich bankers who lost their jobs and went to delivering pizzas? Well, it happened to more than one! The bankers are not all that smart. They're jus tmotivated and greedy. Now maybe you look up to their intelligence. That is understandable.
Anyway, it's the same old story. You believe your one singular idea and shut out all discussion or insight outside of that periphery. It's a matter of belief. And lack of critical thinking. And I do kinda feel sorry for you. It's too bad you have to resort to name calling because you have no ability to truly discuss these matters aside from throwing terms and notions you read on a few websites like Prison Planet.
If you find just can't succeed... you can always resort to jr. high level behavior.
ReplyDeleteYes, there are limited comments so it is easy to skip over the obvious morons or those who would rather ruin this great blog. Too easy just to ignore the CCKs.
ReplyDeleteA blind man can see that this effort is to attain consolidation of banking under the house of Rothschild.
ReplyDeleteWe will succumb to their aims whether we like it or not.
The Chinese will be a tough nut to crack though,they won't allow outsiders and other subversives into their banks like we so foolishly have.
The next century will belong to China