Bank Collapse Soon?
According to this blogger, whom I disagree with states the stress tests to be released in in a few days say that the banking system is in ruins. While I don’t necessarly disagree with his point Financial Armageddon and/or bank collapse is right on top of us. I doubt very much that the government would even release a negative report like he describes.
Our federal government is insolvent and many of these banks are indeed the same as the fed. They’ve stretched themselves thin. They’ve over extended credit in terms of credit cards and other types of high risk debt. They’ve managed themselves poorly and now they are being dangerously propped up. If this guy is right about the report though their may be some serious immediate problems even for me included because I didn’t see it coming this quick. If he is wrong it still doesn’t mean he is wrong, only the timing was wrong.
These companies are in the pockets of the government so there is no telling where we can go from here. Other then more, more, more…