The credit crunch appears to be gearing up for round two! It's predicted that another major bank failure is on the immediate horizon and that the troubles for Fannie Mae and Fredie Mac are just beginning. Here is an excerpt from this breaking financial news:
"Professor Kenneth Rogoff, a leading academic economist, said there was yet worse news to come from the worldwide credit crunch and financial turmoil, particularly in the United States, and that a high-profile casualty among American banks was highly likely. "
Read the full article here:
http://business.timesonline.co.uk/tol/business/industry_sectors/banking_and_finance/article4563171.ece
This is troubling....I would suggest all of us eliminate as many possible barriers to whatever we have in banks. I have been slowly taking as much money out of our bank as possible. Better to have it in hand with no interest, than to not be able to get to it....
Pickdog
Thanks for this valuable update!
Be aware. Be informed. Be prepared.
Riverwalker
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