Here's what's coming from the worst financial crisis since the Great Depression: -------------------------------------------- --Losses of at least $1 trillion and more likely $2 trillion
--Fannie and Freddie "are insolvent and the Treasury bailout plan ... is socialism for the rich, the well connected and Wall Street." --Dozens of large regional/national banks are bankrupt due to their "extreme exposure to real estate." Some major money center banks are "semi-insolvent" --The four remaining U.S. big brokers dealers (Merrill Lynch, Lehman Brothers, Morgan Stanley, Goldman Sachs) "will either go bust or will have to be merged with traditional commercial banks." --The recession will be a U-shaped one lasting 12 to 18 months. Equity prices will fall by 40%, meaning there's another 20% to go. --Oil and commodity prices will fall 20% to 30%. --A similar housing/asset/credit bubble is going bust in U.K., Spain, Ireland, Italy and Portugal--triggering a sharp slowdown or outright recession in those nations. This dire opinion occurred as Wall Street's most respected bank analyst, Oppenheimer & Co's Meredith Whitney, warned that major banks like Wachovia are not realistically pricing the mortgage paper For historical references, the current economic slowdown as a combination of the 1970s oil shock, and the investment busts of 1990-91 and 2001, when the Nasdaq fell by two-thirds. ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~| Adobe® ColdFusion® 8 software 8 is the most important and dramatic release to date Get the Free Trial http://ad.doubleclick.net/clk;203748912;27390454;j Archive: http://www.houseoffusion.com/groups/CF-Community/message.cfm/messageid:264247 Subscription: http://www.houseoffusion.com/groups/CF-Community/subscribe.cfm Unsubscribe: http://www.houseoffusion.com/cf_lists/unsubscribe.cfm?user=89.70.5
