Bad Bank List

In 2003 Warren Buffet proclaimed, “Derivatives are financial weapons of mass destruction.” They are the root cause of the coming Great Depression 2.0. To celebrate the inevitible collapse of Wachovia today I’ve updated my list of the top 25 banks in the US with the largest exposure to toxic derivatives. I’ve added the current bank ratings [...]

That Thud Was the DJIA

The Dow Jones Industrial Average slid 778 points for its biggest point drop ever as $1.2 trillion in market value was erased from American equities. Wachovia Corp. tumbled 82 percent after the bank was sold to Citigroup Inc. in a deal brokered by the Federal Deposit Insurance Corp., sending shares of Sovereign Bancorp Inc. down [...]

Fear Index Goes Vertical

The markets don’t like Congress voting down the Bailout! The Volatility Index, AKA The Fear Index, just broke its all-time high of 45.74 set in 1998. It topped out at 48.40 (up 31% ). Markets are churnin’ -n- burnin’. Things had calmed down last week after the Fear Index spiked at 42 the afternoon of Sept 18. [...]

Alert: “We Are Under Martial Law”

A member of Congress declared Sunday that the Speaker of the House (Nancy Pelosi) has declared martial law. Rep. Michael Burgess (R-TX) reports from the floor of the House that the Republicans have been cut out of the process and called unpatriotic for not blindly supporting the fraudulent bailout. He says the only debate has [...]

CFTC to Investigate Silver Manipulation

This from the Wall Street Journal: With silver prices falling this past summer, silver bugs world-wide set out to prove that their metal was in short supply and market manipulation was at work. They bombarded federal regulators with hundreds of emails crying foul play and demanded answers. Though such pleas proved futile in the past, [...]

History of the Meltdown (So Far…)

See the latest updates to the History of the Meltdown here.