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Strategies & Market Trends : The coming US dollar crisis
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To: Secret_Agent_Man who wrote (16547)1/23/2009 5:29:02 AM
From: Real Man  Read Replies (1) of 71452
 
It will. Keep praying for Mr. President's life.
Message 25348103

Here is my prediction - the derivative monsters (JPM, C, BAC. WFC?)
will be nationalized and run by the government for some time
to protect their depositors, with management
kicked out and contracts cancelled, all that following
Volcker's advice. The market is crying out loud that these
rumours are true. They are, of course, the major crook houses.
Chort 'em, to zero, or a few c. They will eventually be
broken up and sold back to public as smaller entities.

Contracts are between the large banks, thus nationalization
or acquisition of failed counterparty cancels them. We've
seen a lot of the latter and some of the former, but actually
the former WAS crooky so far. If the government acquires
the losing side, they actually have to pay the winners and
support the bubble.
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