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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: patron_anejo_por_favor who wrote (196985)4/20/2009 9:56:43 AM
From: MulhollandDriveRead Replies (2) of 306849
 
listen to this ric mishkin (former fed gov) interview from this a.m.

couple of interesting tidbits there relating to the solvency of the banks

cnbc.com

'still in very big trouble'

'very weak financial institutions'

'more shoes dropping'

'exactly what happened in 1931'

'more virulent phase of financial crisis, followed by great depression'

'have to deal with reality, even though public is furious' (implying what??)

'most likely scenario we turn into next japan without serious attempt to CLEAN UP the financial system'

'more funds needed for the banks and restrictions on use'

'still in national crisis'

'need to come up with MORE TAXPAYER dollars'

'demand for loans has dropped, would be mistake to force lending to businesses that should go out of business'

and the crowning point?

'i'm not sure'

(says gov't has to level with the american people, bitter medicine still to come)

btw....he is an owner of AIG stock and he's pissed <g>
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