Did U Think The Ponzi Scheme Would Last?

Not Everyone Is In Trouble

I think you do not have a clue how bad this market is going to melt down. We are not just seeing a couple of neighborhood banks in trouble here. We are seeing 100 and 150 yr old institutions go tits up like it was nothing. And they don't just have a few tens of billions of assets to liquidate. Just AIG and LEH alone have 1.6 trillion worth of assets to sell quickly. That means prices on everything will go down which means by Q1 2009 the banks which are left will be marking their assets down fare enough so as to threaten breakage of collateral covenants.

By the time this is all played out in 2-3 year people will hate bankers and the stock market like poision.