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08-13-2008, 04:28 PM #1
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Aussie Bank to Bring America's Biggest Bankers to Their Knee
This does not look good!
Aussie Bank to Bring America’s Biggest Bankers to Their Knees?
August 12, 2008 | From theTrumpet.com
With American banks already in trouble, an Australian bank made matters worse—by telling the truth! By Robert Morley
July 25 was a particularly bad day for Australia’s four biggest banking stocks. In a matter of hours, $16.2 billion in stockholder value was erased from existence—the worst fall since Black Monday in October 1987.
Investors jumped ship following the decision by the National Australia Bank to take a 90 percent write-down on a chunk of mortgage-backed assets that were supposedly aaa-rated. Yet, the full implications of the announcement were largely missed by the media. To them, July 25 was just one more bad day in a bad year in which Australian financial stocks ground lower and lower.
The “aaaâ€
PALESTINIANS COMING TO YOUR TOWN!
05-18-2024, 09:11 PM in Videos about Illegal Immigration, refugee programs, globalism, & socialism