Quote:
Originally Posted by tony404
By way of perspective. in the 89-90 savings and loan fiasco over 1000 financial institutions collapsed, in the current crisis there may be 150 banks at risk.Take a deep breath the sky is not falling and capitalism is the only game in town, you can't win if you don't play.
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I have been hearing this from several places and it is not looking at the bigger picture. Sure maybe only 150 banks are at risk versus the 1000 that collapsed in 89-90. The big difference is that through mergers, buy-outs, consolidations AND the closure of those banks that collapsed in the S&L fiasco there AREN'T as many banks around today to soften the blow.
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"The towers are gone now, reduced to bloody rubble, along with all hopes for Peace in Our Time, in the United States or any other country. Make no mistake about it: We are At War now -- with somebody -- and we will stay At War with that mysterious Enemy for the rest of our lives." H.S.T. 09/12/01