Quote:
Originally Posted by izz
well halifax one of th elargest banks in britain released a statement saying not to worry it was healthy ..
the next day we here it is in deep doo doos and it has to be bailed out by merging with Lloyds TSB ... which is bad news for the people..
never heard of banks going down before it is very weird .. and more are sure to hit the dust ..
what does it mean for us the people ?
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Most likely the little people will be facing higher unemployment rates, the dollar will (should) drop in value, loans will become much harder to qualify for, alot of assets (stuff) will be sold/auctioned to foriegn investers.
It sounds like some of these bad deals are so conviluted, they realy are not sure what the actual value is. It's almost like a total crap shoot for the american taxpayers.
My .02
