Thursday, September 18, 2008

The impossible will suddenly become inevitable.

What happened next?

In the UK, Lloyds TSB PLC has taken over Halifax Bank Of Scotland (HBOS) with £12.2bn. A few days before, 150 years top 4 investment bank in the US Lehman Brother declared brankrupcy.
At the another side of market, American Internation Group (AIG) is seeking USD 85bn bailout from US treasury department.

There is also news saying the Citibank is at the edge of brankrucy as well, which is very shocking! Other stumbling financial institution like Washington Mutual, Wachovia, Bank of America, Morgan Stanley are also in danger.

We know US government of course won't let it happened, by injecting billions of dollars. But concensus is wondering if it will be successful to stop the tumoil? One of the possible consequence is all these institute would be nationalised, and dominos chain will happened.

If these world largest financial institues could fall, what would happened next? The future seems very unpredictable and confusing.

However, I like the words in TimesOnline "The impossible will suddenly become inevitable".

Reference:
Full Credit crisis topples US financial icon
Investors cautious amid turmoil
US get busy printing money
Understanding Sub-Prime Mortgage

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