More fall out from Northern Rock this morning. Don't think we can't have a bank run in the States? Click here for article on what is happening in Northern England. The most striking point is that Lloyds Bank was in talks with Northern Rock days before the Bank of England rescue, and Lloyds didn't even want a so-called juicy steal and a big discount to where the shares once traded just weeks earlier. Obviously they didn't like what they saw! Bearish!
The squeeze is on all over the globe, and investors seem content to think the U.S. Federal Reserve will rescue everybody with a rate cut tomorrow. The question all investors should ask..."after the rate cut, then what!" I suspect it will be hard to beat expectations..it always is!
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