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Old 11-27-2008, 02:09 AM   #1
Avalon Senior Member
Join Date: Sep 2008
Posts: 345
Default Collapse of Citigroup

Here is a link to the article about Citigroup collapsing.

And in the meantime I'm checking out the Lakota Bank information. It may not be anything but a well conceived fraud.

More Later...

Here is a quote from the article.

"The first and most obvious hardship is that you could be denied immediate access to most or all of your money for an indefinite period. What about government agency guarantees like FDIC insurance? A large proportion of those guarantees, unfortunately, would have to be suspended in order to give banking regulators the time they need to sort out the mess.

It is simply not reasonable to expect that governments will have the resources to immediately meet the demands of thousands of institutions and millions of individuals if they all want their money back at roughly the same time."

Last edited by Waterman; 11-27-2008 at 02:26 AM.
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