U.S. regulators directed five of the country's biggest banks, including Bank of America Corp and Goldman Sachs Group Inc, to develop plans for staving off collapse if they faced serious problems, emphasizing that the banks could not count on government help.More at the above link. Read it all.
The two-year-old program, which has been largely secret until now, is in addition to the "living wills" the banks crafted to help regulators dismantle them if they actually do fail....
This is not a recession. This is a DEPRESSION!
1 comment:
Hi AOW.
Lately i've started using the "New October Revolution" tag if you add up everything that seems the most likely outcome.
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