Thursday, August 25, 2011

BANKERS WARN OF NEW CRASH

Give yourself a few weeks to prepare-if nothing else it will be a good exercise in crash preparation and you'll have some real insurance.

http://www.telegraph.co.uk/finance/financialcrisis/8721151/Market-crash-could-hit-within-weeks-warn-bankers.html

"The problem is a shortage of liquidity – that is what is causing the problems with the banks. It feels exactly as it felt in 2008," said one senior London-based bank executive.
"I think we are heading for a market shock in September or October that will match anything we have ever seen before," said a senior credit banker at a major European bank.

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