Sunday, 28 September 2008

Tip n Run UPDATE1

Never mind next week... my prediction of bank failure at Fortis seems to have developed faster that i expected:

With fate in balance, Fortis faces bailout or takeover

If a takeover proved impossible, "the Luxembourg government (would) take an important role in Fortis, the Belgian government would do the same thing and the Dutch government," he said. Luxembourg Budget Minister Luc Frieden.

The article also confirms the Bradford & Bingley story:

Amid concerns over Fortis, the BBC reported that British bank Bradford & Bingley would be nationalised soon and quickly sold to another bank or banks.

Suddenly everyone is nationalising their banks... what can it mean?

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