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Friday, August 21, 2009

Banks in crisis

OK we were told all was well. The bank bailout is never over. Right now we find out that banks need more trillions. They are in a liquidity squeeze. Sadly, even major banks will be pushed over the edge on this one. Expect FDIC to announce it can now longer guarantee people's deposits and a bank holiday similar to the one in the 1930's to take place.