American Banks are fucked!!!!!!!!!!!!!!!!!!
 

Merrill Lynch reports $4.9 billion loss
CitiBank expecting to lose 2.9 Billion tomarrow.

The S&L's are going into the dirt the hardway...

Basically the Crux of the American economy and it's foundations are literally crumbling each day at this point. Not just crumbling, but evaporating. No saving's at this point is safe. Literally unless you gold in yer basement.

Get the fuck out of the cities folks...
Once the money is useless people gonan be breakin and burning shit.

I am going to predict LA goes into insane riots in 2009.

Fleeing the cities? Bah.

If you think it's actually going to get that bad, when do you expect the mass exodus to start? You know... whitey fleeing back to Europe and leaving the US to the Mexicans? I don't want to miss that boat.

Wellsfargo pulled a huge profit..

:thumbsup

that should help the ecomony recover, with all the insurance claims...:thumbsup

Lynch bounced back after hours tonight and those numbers might look high to you but its nothing to the banks they are fine

Huh? MER lost almost 7% after hours.

Huh ?? I didn't check I just went on the word of my friend he is a VP at JP morgan chase I figured he was a good source I guess I should stop letting him handle my money

The economy will crash pretty hard, the dollar will be worthless, and they'll bring in the Amero and the NAU as some sort of savior.

I'd agree with that - he lied to you - time to ditch him!

ML CO CMN STK(NYSE: MER)
After Hours: 28.65 -2.08 (-6.77%) 7:59pm ET

Economic cycle

Surprisingly enough the Canadian banks say they are doing fine. What a world.

Keep telling yourself that...

Pretty sure most of Citi is owned by foreign investors anyway.. not sure it's an "american" bank really..

Balance Sheet of Merrily Lynch:
Total Cash (mrq): 668.44B
Total Debt (mrq): 518.77B

5B loss sounds like a huge number, but that's less than 1% of the cash they have... Not exactly "sky is falling" situation yet...

ok then.............

Thats because they did not invest heavily into commercial paper and sub-prime. We have stronger regulations in place so that it doesnt happen to us.

Hmmmm... I recall posting several months ago about moving your money out of the USA and into a more stable currency if you were able. Ya'll said I was crazy.

Which are the biggest canadian banks and what kind of writedowns did they have?

I was about to ask if you were American ...

Never mind.
:pimp

What banks are doing well? Can we say panic of 2008? (read about panic of 1907) And what is the fed doing? Trying to grab more power. We are being used. What happened after the panic....

Too bad Ron Paul was laughed off the stage, he predicted this shit long ago.

"Paper is poverty,... it is only the ghost of money, and not money itself." "I now deny [the Federal Government's] power of making paper money or anything else a legal tender." Jefferson.

"When the truth is found to be lies, and all the joy within you dies" - Jefferson.

http://www.seeklyrics.com/lyrics/Jef...y-To-Love.html

pretty shitty. i have accounts with BofA. although they are a large bank im still a bit fearful.

anyone want to hold onto my money for a bit? :1orglaugh

seriouslly whats wrong with you? I am going to bump this thread next year to remind you

FreddyMac considering selling Stock!!!!!!