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Bank-crisis

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Peter:
Does anyone has deep thoughs about the mortgage-bank-run crisis.
It is coming closer and closer, well it is already in europe. (Oh, for the point britain isn't europe, britain we ignore)

After a whole time of different american and britain banks being taken by each other.
More or less ignoring america and britain here.  

Now there is a number of banks in europe that seems to have problems. 2 banks in belgium(from witch one doesn't exist anymore)and a bank in germany has got a huge load from the goverment. And also a number of other banks that are short of money.

Maybe the biggest of the whole crisis is that Iceland, after natiolising multiple banks, is in deep trouble. And maybe a national bankruptcy is nearing.

Numsgil:
Keep going!  Stocks are so low I can build the most awesome 401(k) (tax free retirement account in the US) for pennies on the dollar, so to speak   Even assuming a Great Depression like, well, depression, those stocks are going to be golden in 30 to 40 years when I start retirement.

Ironically I set up a Washington Mutual checking and savings account because they don't have my old bank, Chase, in California.

bacillus:
Finished typing yet?

Commander Keen:
Over here the media are busy saying this is the next big depression, and are trying to make people panic. The elections are nearing so the politicians are all busy lying as usual...

In New Zealand all of our banks are owned by offshore investors, with the exception of one, which is a state-owned enterprise, so overseas problems could be a worry. The Government has predicted a $6 billion dollar loss over the next year. It might not sound like much, but there's only 4 million people in New Zealand, so thats $1,500 per person!

bacillus:
Huh, not as big as I though then   .
I think you're right, though, for New Zealand this big depression thing is really coming in time with elections. The politicians are all saying that they regret saying they're giving the public a tax cut, but will go through with it anyway (which is sure to drive the votes in!)

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