Ready for a little shock? Link
A reader has discovered this on Digg: “This is how fucked we are”
That says it all.
Related article: Stressed banks borrow record amount from Fed
What does it mean if you have such a huge “shortage of liquidity in your system”?
Hmmmhhh?!? Oh! Run, run, run.
According to the FDIC I am just another blogger creating fear in the marketplace, so don’ t worry.
You can trust the government on this:
WASHINGTON, July 22 (Xinhua)
U.S. Treasury Secretary Henry Paulson said Tuesday that the U.S. banking system is sound and the long-term fundamentals of economy are strong.
December 5, 1929
“The Government’s business is in sound condition.” — Andrew W. Mellon, Secretary of the Treasury
More Quotes from the Great Depression:
Read moreBorrowings of Depository Institutions from the Federal Reserve