Crisis to last longer …
Today … another round of scary reports … Bank of America and Citibank lost “some more” billions 
Bank of America had to take 20bln $ MORE(!) help from the always giving U.S. Govt. and got backstopped on just around 120 bln $ … following in the footsteps of Citibank …
IMHO … this means TWO of the biggest banks are DE FACTO NATIONALIZED NOW!!!
THEN … between the headlines … the “official” recognition, that the crisis will last longer than “said”:
The FDIC said it’s going to extend its temporary liquidity guarantee program to up to 10 years, from a current three years.
AUTSCH!!! …
Some fun coming up in Germany … LBBW, one of Germany’s biggest banks is in trouble … its CEO gave an interview to FAZ, a leading newspaper in Germany … mentioning, that “at the moment” LBBW has NOT ENOUGH capital …
AUTSCH!!! …
Whoever buys equities in this environment, would as well cross a Formula 1 track blindfolded on his knees 
Enjoy your weekend
Tags: Bank of America, Citibank, FDIC, LBBW, nationalization, stupidity
Januar 19th, 2009 at 16:54
if that´s “known” to everybody then obviously it´s the right time to buy stocks.
Januar 19th, 2009 at 17:01
hello Oly,
today big trouble in EU with RBS (-65%)
Lloids (-23%), Barclays (-9%)
another round of bank bailouts in EU?
new lows in sight?
Januar 19th, 2009 at 17:02
Stocks will crash … Big time … most of the guys STILL don’t get it
Januar 19th, 2009 at 17:04
All banks seemingly will go under … nationalization on the way … investors will hold the empty bag …