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Banking on Bailouts: How Many IndyMacs Are Out There?

A few weeks ago I read that some global advisors are warning their clients to stay away from the dollar, then I read a financial article that said some of the 6000 American banks are on the threshold of failure within weeks. Now we learn of the Indy fiasco... No offense, but I'm going to bullion with my paltry sum.

June 28th, 2008
"BRUSSELS/AMSTERDAM - Fortis expects a complete collapse of the US financial markets within a few days to weeks. That explains, according to Fortis, the series of interventions of last Thursday to retrieve € 8 billion. “We have been saved just in time. The situation in the US is much worse than we thought”, says Fortis chairman Maurice Lippens. Fortis expects bankruptcies amongst 6000 American banks which have a small coverage currently. But also Citigroup, General Motors, there is starting a complete meltdown in the US”