Monday, July 14, 2008

Run on the Bank in the USA (Bastille day) 2008

SYDNEY MORNING HERALD:
Run on banks spells big trouble for US Treasury
IN A modern financial system nothing is more frightening than a run on the bank. The US has now suffered a series of them, and they are escalating in size and scope, posing a serious threat to an already reeling economy. Read on!

YES, intuition tells me people are going MAD. I drove past the Indymac bank building in Pasadena on Sunday and thought to myself.... "this bank is not the same today as it was yesterday, dear-O-dear-O-dear, and this apparently is still only the beginning". Here is the Indybank location on google maps: http://maps.google.com=indymac+pasadena"

http://performinglanguageworkshops.com/indytest.png


IntuitiveBlogger: On April Fools day (04/01/2008) I wrote the following in my blog: IntuitiveBlogger
"Does anyone feel we could see a run on the bank, as what happened in England last September with Northern Rock? I don't see this as a joke. I think it could happen very easily and in a matter of months."

Well folks, I have to formally announce to you, this has actually happened TODAY (Bastille day July 14 2008) in the USA!

RUN ON THE BANK: Indymac / PASADENA USA

Click on images to read the newspaper stories:

The image “http://www.reuters.com/resources/r/?m=02&d=20080712&t=2&i=5134576&w=192&r=2008-07-12T031034Z_01_WA0000141_RTRUKOP_0_PICTURE3” cannot be displayed, because it contains errors.
Click on any image to read news story
IndyMac
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Customers wait outside
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http://www.latimes.com/media/photo/2008-07/40919045.jpg
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http://www.chinadaily.com.cn/world/images/attachement/jpg/site1/20080712/0013729e477109e2d4f556.jpg
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http://media.pressofatlanticcity.com/smedia/2008/07/13/16/588-IndyMac_.sff.standalone.prod_affiliate.101.jpg
Click on any image to read news story
The image “http://d.yimg.com/us.yimg.com/p/nm/20080714/2008_07_14t131931_450x295_us_indymac_fdic.jpg?x=400&y=262&sig=c.ONwcawjEdP2vmVK82Azg--” cannot be displayed, because it contains errors.
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The image “http://d.yimg.com/us.yimg.com/p/nm/20080713/2008_07_11t202453_450x340_us_indymac.jpg” cannot be displayed, because it contains errors.
Click on any image to read news story
The image “http://d.yimg.com/us.yimg.com/p/rids/20080714/i/r4156053034.jpg” cannot be displayed, because it contains errors.
Click on any image to read news story
The image “http://imgs.sfgate.com/c/pictures/2008/07/11/ba-indymac_0498772292.jpg” cannot be displayed, because it contains errors.
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The image “http://d.yimg.com/us.yimg.com/p/nm/20080714/2008_07_14t141406_450x311_us_indymac.jpg” cannot be displayed, because it contains errors.

The image “http://www.harkphoto.com/052504cows1.jpg” cannot be displayed, because it contains errors.

We are hearing this is just be the beginning....

(Some people are in deep S. H. eye. T)


The guardian.co.uk: Many more US bank failures likely after IndyMac

CNN: After IndyMac's failure, which bank could be next?

Yahoo Finance: Analysts Say More Banks Will Fail


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