Comments on: Too big to rescue http://www.creditwritedowns.com/2009/02/too-big-to-rescue.html Finance, Economics and Markets Thu, 09 Feb 2012 21:23:35 +0000 hourly 1 By: dan http://www.creditwritedowns.com/2009/02/too-big-to-rescue.html#comment-3925 dan Tue, 17 Feb 2009 00:56:40 +0000 http://www.creditwritedowns.com/?p=6067#comment-3925 Online ad <a href="http://www.hsbcdirect.com/1/2/1/mkt/savings?code=PB10000013&WT.srch=1&WT.mc_id=HBUS_PB10000013" rel="nofollow">here</a> Can’t find a link to the TV commercial accompanying the campaign Online ad here

Can’t find a link to the TV commercial accompanying the campaign

]]> By: Edward Harrison http://www.creditwritedowns.com/2009/02/too-big-to-rescue.html#comment-3924 Edward Harrison Tue, 17 Feb 2009 00:43:10 +0000 http://www.creditwritedowns.com/?p=6067#comment-3924 @dan, thanks for the info. that's a pretty hefty return. Please link to an ad if you can. @econophile, If GM goes bankrupt or BAC fails, it cold set up another crisis of confidence like we saw with the GSEs and Lehman. Whatever happens, it must be an orderly process or we risk a very bad outcome. (And thanks for your comments on the re-design). It was very necessary). @dan,
thanks for the info. that’s a pretty hefty return. Please link to an ad if you can.

@econophile,
If GM goes bankrupt or BAC fails, it cold set up another crisis of confidence like we saw with the GSEs and Lehman. Whatever happens, it must be an orderly process or we risk a very bad outcome. (And thanks for your comments on the re-design). It was very necessary).

]]> By: dan http://www.creditwritedowns.com/2009/02/too-big-to-rescue.html#comment-3923 dan Mon, 16 Feb 2009 22:01:41 +0000 http://www.creditwritedowns.com/?p=6067#comment-3923 Speaking of HSBC they just started a new ad for CD’s at 5X the going rate. Speaking of HSBC they just started a new ad for CD’s at 5X the going rate.

]]> By: Econophile http://www.creditwritedowns.com/2009/02/too-big-to-rescue.html#comment-3921 Econophile Mon, 16 Feb 2009 20:26:10 +0000 http://www.creditwritedowns.com/?p=6067#comment-3921 Edward, what would happen if some of these banks failed? Let's say GM goes b/k. Let's say BAC fails. Why would the world collapse? PS I like you redesigned site. Edward, what would happen if some of these banks failed? Let’s say GM goes b/k. Let’s say BAC fails. Why would the world collapse?

PS I like you redesigned site.

]]> By: Edward Harrison http://www.creditwritedowns.com/2009/02/too-big-to-rescue.html#comment-3915 Edward Harrison Mon, 16 Feb 2009 15:55:04 +0000 http://www.creditwritedowns.com/?p=6067#comment-3915 You are right. The Swiss figure is the PPP version. I will correct this later today. You are right. The Swiss figure is the PPP version. I will correct this later today.

]]> By: Holzbein http://www.creditwritedowns.com/2009/02/too-big-to-rescue.html#comment-3914 Holzbein Mon, 16 Feb 2009 15:49:30 +0000 http://www.creditwritedowns.com/?p=6067#comment-3914 Excellent post... Edward! But I think you have mixed up BNP figures for Switzerland between Purchasing Power Parity BNP and Nominal BNP. Swiss Nominal BNP US$ 426,7 Bln (2007). So the ratio CS Asset/ Swiss BNP will be 703%. (Source: The Economist Country Section) Anyway, still very frightening. Excellent post… Edward!

But I think you have mixed up BNP figures for Switzerland between Purchasing Power Parity BNP and Nominal BNP.

Swiss Nominal BNP US$ 426,7 Bln (2007). So the ratio CS Asset/ Swiss BNP will be 703%.
(Source: The Economist Country Section)

Anyway, still very frightening.

]]> By: Sobers http://www.creditwritedowns.com/2009/02/too-big-to-rescue.html#comment-3907 Sobers Sun, 15 Feb 2009 23:33:21 +0000 http://www.creditwritedowns.com/?p=6067#comment-3907 I had heard that the European banks were in deep trouble, but I didn't know it was this bad. These figures are staggering. This is an disaster waiting to happen. I can see only one outcome. Something will precipitate an initial collapse, and then the whole pack of cards will fall. I foresee bank doors being closed. You won't be able to get your money. It'll be there on paper, but you won't be able to access it. Cash machines won't work, or will only give you a very limited amount of cash. Govt will step in and may even invoke National Emergency type legislation. I recommend taking some steps to ensure you have access to cash/wealth in case of such an eventuality. I already have, and sleep sounder at night as a result. I had heard that the European banks were in deep trouble, but I didn’t know it was this bad. These figures are staggering. This is an disaster waiting to happen. I can see only one outcome. Something will precipitate an initial collapse, and then the whole pack of cards will fall. I foresee bank doors being closed. You won’t be able to get your money. It’ll be there on paper, but you won’t be able to access it. Cash machines won’t work, or will only give you a very limited amount of cash. Govt will step in and may even invoke National Emergency type legislation.

I recommend taking some steps to ensure you have access to cash/wealth in case of such an eventuality. I already have, and sleep sounder at night as a result.

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