Sunday, October 5, 2008

"we have to do something before the markets open on monday"

above: hypo bubble bank on the run.

This is the forth weekend in a row where they are saying "we have to do something before the markets open on Monday" and for three Mondays in a row the headlines have been something original like "Meltdown Monday".

This weekend desperate attempts are being made to save the aptly named 'Hypo Real Estate' super bubble bank in Germany from collapse, the European equivalent of Lehman brothers, threatening a banking system collapse. "If there is no solution when stock markets open on Monday morning, the company won't make it two more days," said a banker quoted in Spiegel.

Black Monday 15 September - Lehman Brothers go down in controlled demolition which really started on 11.9.

Black Monday September 22 - Last two standing investment banks evaporate as Morgan Stanley and Goldman Sachs shape shift into bank holding companies, George Bush trying to get bail out, and his bail, passed with no oversight or foresight.

Black Monday 29 September - bail out vote fails, biggest Dow Jones fall ever, Bradford & Bingley nationalised, Hypo Real Estate rescue plan that failed announced.

Black Monday October 6th? - weekend spent in desperate attempts to save Hypo Real Estate after previous plan fails, desperate Germany guarantees all bank savings, seemingly declaring economic war on Britain, and everyone for themselves.

more hypo bubble bank collapse at naked capitalism

the human cost: Ohio woman, 90, shoots herself after foreclosure.

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