Dead Bank Walking

[CountryBoy]

Read the third paragraph from the bottom.

"Even the banks that refused the government's initial offer of capital, HSBC and Barclays, are "dead banks walking" because of their exposure to now-tottering emerging-markets borrowers, says Willem Buiter, a former member of the Bank of England's monetary policy committee. U.K. bank lending to emerging markets is equal to about 24% of the country's gross domestic product, vs. just 4% for U.S. banks, says Morgan Stanley. As the global recession causes borrowers in those developing nations difficulty repaying those loans, potentially fatal losses will mount. "

http://www.usatoday.com/money/world/2009-01-21-london-economy_N.htm

barclays is in bad shape.

CB

 

[Bullitt]

We got a dead man walkin' here.

 

[CountryBoy]

Great Movie

 

[Viva_La_Migra]

Great Movie

Except for the execution...I would've preferred to see Sean Pean fry on Ole Sparky!

 

[Steadygain]

As the global recession causes borrowers in those developing nations difficulty repaying those loans, potentially fatal losses will mount.

CB

The REAL tragedy is what the developing Nations have to go through. The BIG ECONOMIES have rules and regulations that are very easy between themselves and the rates they charge are minimal. Emerging Nations are charged VERY HIGH RATES and are forced to make sweeping changes that literally bring their Nation to the brink of total collapse.

It's an US versus THEM mentality in REAL LIFE

Sorry guys (and gals) but this is a subject that really burns me because the developing Nations are totally under the mercy of 'The Club' and that club forces them to pay a very high price.

 

[CountryBoy]

The REAL tragedy is what the developing Nations have to go through. The BIG ECONOMIES have rules and regulations that are very easy between themselves and the rates they charge are minimal. Emerging Nations are charged VERY HIGH RATES and are forced to make sweeping changes that literally bring their Nation to the brink of total collapse.

It's an US versus THEM mentality in REAL LIFE

Sorry guys (and gals) but this is a subject that really burns me because the developing Nations are totally under the mercy of 'The Club' and that club forces them to pay a very high price.

Steady,

Not only that, but then you have social unrest and if that unrest is in a country with nukes.....

CB

 

[Birchtree]

I bought all my banks and financials on their approximate lows even though some are still going lower and I may have to go back and go fish once again - BAC is a steal along with BCS. I'm a patient long term investor and have plenty other issues to back me up that are part of the holy grail. Waiting, waiting, waiting and it's not for Godot.

 

[Thunderhorse]

barclays is in bad shape.

Steady got me to thinking about Zimbabwe. I have difficulty feeling empathy for barclays.
Barclays bankrolls Mugabe’s brutal regime

http://www.timesonline.co.uk/tol/news/uk/article2848046.ece


Blood money: the MPs cashing in on Zimbabwe's misery

http://www.independent.co.uk/news/u...ps-cashing-in-on-zimbabwes-misery-856583.html

Not very illustrious. And now yesterdays announcement:

Barclays Zimbabwe set to expand FOREX accounts

http://www.radioalgoa.com/newsarticle.asp?NewsID=141277


Reliable word from a family friend in Zimbabwe is that these types of FOREX acounts are regularly cleaned out (raided) by the Zim gov't.
Our friend is soon getting out with essentially only the clothes on his back. Living arrangements have been taken care of.

Pray for his safe passage.

(And you think the G fund or FDIC insured accts are safe in a real emergency? Think again.)

 

[alevin]

Reliable word from a family friend in Zimbabwe is that these types of FOREX acounts are regularly cleaned out (raided) by the Zim gov't.
Our friend is soon getting out with essentially only the clothes on his back. Living arrangements have been taken care of.

Pray for his safe passage.

THorse, I will be. I too have a Zimbabwean friend. We were travelling in the middle of China on a ferryboat up the Yangtze, of all places, back in 2000, when a fellow Zimbabwean approached him and called him out in the hallway for a private conversation. The rest of our group were apprehensive, as we'd just gotten done singing the Zimbabwean national anthem for the entertainment of the rest of the passengers, didn't know what this guy wanted with our guy. We could tell he was white African and a whole lot bigger than our white African, thought he was going to punch him out in the hallway for referring to their country as Zimbabwe instead of Rhodesia.

Not so, he gave our friend his card and told our friend he could provide connections for other white Zimbabweans to get out of the country and help with resettlement if they wanted to get out. Our guy is still living in Florida as an ex-pat to the best of my knowledge, haven't heard from him lately. Hope your friend gets out ok and is able to create a new hopeful life.

 

[CountryBoy]

Is UK Banks Nationalization Inevitable?


"Voices in favor of nationalizing major UK banks to save them from a mauling in the markets strengthened Thursday, sending banks' share prices into a roller coaster of hope and dismay."


http://www.cnbc.com/id/28788581

Would this nationalization of barclays force the boards or the Governments hand to switch to another financial institution to run our TSP or would this possiblility be the excuse the Gov't is looking for to change our TSP into Social Security 2.0? I can't see the US Gov't allow an UK nationalized bank to handle our retirement funds. Things are getting interesting.

CB, at home under the weather

 

[Thunderhorse]

THorse, I will be. I too have a Zimbabwean friend.

Thank you alevin. I will post updates as things progress.

 

[alevin]

Thank you alevin. I will post updates as things progress.

T'horse. Please tell me your friend is not my friend Graeme Cumming. I just realized you also live in Florida which is where he's been since I last saw him. I heard recently he'd been seen at a conference in S.Africa this past year or something like that.

 

[Thunderhorse]

T'horse. Please tell me your friend is not my friend Graeme Cumming.

No alevin, our friend Mike will be living with some of our family in the UK for now. I pray Graeme is Ok also.

 

[Thunderhorse]

Barclays middle eastern ownership interests weigh in on any possible nationalization efforts.

Middle East investors vow to keep control of Barclays: report

http://www.marketwatch.com/news/sto...A5DC7-10FD-46B0-AABB-F20A5F9D5610}&dist=msr_1

Middle East backers 'will pay what it takes' to block Barclays bailout

http://business.scotsman.com/bankinginsurance/Middle-East-backers-39will-pay.4911470.jp

I recieved news today that Mike has arrived in England with wads of useless billion dollar zimbabwe notes. Richest man in the village!

 

[alevin]

Barclays middle eastern ownership interests weigh in on any possible nationalization efforts.

Middle East investors vow to keep control of Barclays: report

http://www.marketwatch.com/news/sto...A5DC7-10FD-46B0-AABB-F20A5F9D5610}&dist=msr_1

Middle East backers 'will pay what it takes' to block Barclays bailout

http://business.scotsman.com/bankinginsurance/Middle-East-backers-39will-pay.4911470.jp

I recieved news today that Mike has arrived in England with wads of useless billion dollar zimbabwe notes. Richest man in the village!

PTL! Those Zimbabwean bills may be a collectors item someday-if the economy ever recovers such that they can be taken out of circulation. In the meantime...hope the ME backers' pockets are deep enough-that's an awfully deep hole to fill.

 

[hessian]

Saw that Citi's share price yestesday ended at ~$2.00/share
BOA at around $3.00/share.
- I read somewhere that Banks under $10 cannot recieve either Bailout, TARP or Window funds.

Anyone, know whether I'll be able to deposit/cash a $50 Citibank "rebate check" on Monday? :suspicious:

 

[luv2read]

Abu Dhabi sold their Barclay's shares and made a chunk of profit. But Barclays took a huge plunge on the action. Wait for the Boards reaction...they will do something with TSP.

 

[Birchtree]

I own BCS from $13 down to $7 so a cheaper price of $18 encourages me to add to my position rather than taking any profits yet. I like to buy weakness as an opportunity.