Bank Crisis Spreads To Brazil, Where Banco Panamericano Plunges After Warning Liquidation Could "Destabilize" System

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Wed, 11/10/2010 - 10:41 | 716076 joelandsonia
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Funny how this stuff always tends to come to light *after* elections.

Wed, 11/10/2010 - 10:44 | 716079 Max Hunter
Max Hunter's picture

Wow... in other news... EUR/USD breaking downward support..

Wed, 11/10/2010 - 10:46 | 716091 SheepDog-One
SheepDog-One's picture

Whats the problem here Brazil? Havent you learned yet? Just PRINT your way to banking prosperity!

Wed, 11/10/2010 - 10:48 | 716096 lolmao500
lolmao500's picture

And Brazil wanted to do a currency war against the US uh?

Wed, 11/10/2010 - 10:51 | 716107 rapacious rachel wants to know (not verified)
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quote from Bombs Away Ben to Brazil:

"Don't fuck with me, Pal; I'm the reserve currency."

Wed, 11/10/2010 - 11:01 | 716139 Bananamerican
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"....Warning Liquidation Could "Destabilize" System"

ya know...just, FUCK Banks

Wed, 11/10/2010 - 10:49 | 716101 Oh regional Indian
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Actually Indian banks, especially the newly licensed ones and actually even more, the one's that partenered with the global banks, are all on shaky ground.

Post September 2008, a couple of large "new" banks, who had their dollar injections from partner banks had a credit spigot wide open for consumer lending. Their NPA numbers are horrible, growing worse by the day.

And a couple had to fight bank runs with national advertising blitzes.

The bank, globally, as an entity is diseased, let us hope it succumbs soon.


Wed, 11/10/2010 - 12:16 | 716535 Observer
Observer's picture

Not really. They will just be nationalised to be controlled by regional governments as State Banks. The central bank will be absorbed into the treasury or be controlled by it. Government controlled banks anyway dominate banking in India. The banks in trouble will simply be allowed to go bust with depositors being protected through a state takeover and the share holders getting wiped out or depositors getting their money back and the bank allowed to go bust. That is the way it works in India

Wed, 11/10/2010 - 10:53 | 716113 johngaltfla
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And wait for it, inhale the doom, when the Austrian banks to really start the EU party rolling......

Wed, 11/10/2010 - 11:56 | 716436 A Man without Q...
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Agreed - Austrian banks tend fund more long term, so there have no been as many funding issues, but the thing is, they are far too secretive, so nobody really knows what's going on.  However they have huge exposures in CEE, much of it CHF loans, so eventually something's going to break.

There's a joke when an Austrian says to you "good morning", he's just lied twice.

Wed, 11/10/2010 - 10:56 | 716126 Spalding_Smailes
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Ben swap lines stat...

Wed, 11/10/2010 - 10:56 | 716128 trav7777
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hey, sell more dollar debt!  Embrace the disease..

Wed, 11/10/2010 - 11:07 | 716163 Spalding_Smailes
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I thought the dollar was on her death bed? but they need more now? funny..... how that works.

Wed, 11/10/2010 - 11:00 | 716137 vote_libertaria...
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So does this mean US equities will be green in 10 minutes rather than 5???

Wed, 11/10/2010 - 11:11 | 716180 Arius
Arius's picture

okay - lets just summarize and say it will be an interesting month to Christmas...

Wed, 11/10/2010 - 11:16 | 716200 TBT or not TBT
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Brazil isn't "developed" yet?

Wed, 11/10/2010 - 11:19 | 716217 BearishFeijoadaSushi
BearishFeijoadaSushi's picture

Fortunatelly, our problem isn't as bad as yours, translate this:

Wed, 11/10/2010 - 11:19 | 716219 CABO
CABO's picture

that's right Austria Banks are next, Austria banking crisis will bring down all of europe banks .







Wed, 11/10/2010 - 11:21 | 716231 deez nutz
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After Warning Liquidation Could "Destabilize" System

How do you really destabilize an already destabilized system?

Wed, 11/10/2010 - 11:25 | 716262 CABO
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Wed, 11/10/2010 - 11:32 | 716301 CABO
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Austria is by far the most vulnerable country,the  Euro Crisis will Enter a New Phase





Wed, 11/10/2010 - 11:35 | 716319 jus_lite_reading
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Correct, but AT gets little attention these days. Watching the EU disintegrate as we speak...

Wed, 11/10/2010 - 11:34 | 716315 jus_lite_reading
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Wed, 11/10/2010 - 11:40 | 716355 bluehorsesandal
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Silvio Santos is the owner of Banco Panamericano


Take a look in his performance:


Uncle ben is learning with him... 

Wed, 11/10/2010 - 11:47 | 716386 Vampyroteuthis ...
Vampyroteuthis infernalis's picture

I love waterfalls. Something else that sickens me is to hear the MSM and other dipsh*t pundits declare the US a dead entity while rest of the world will overtake us and become the new world powers overnight. This is bullsh*t and here is an example. As the US is brought to its knees, rest of you indolent motherf*ckers are coming with us. One big difference, we have aircraft carriers and nuclear bombs.

I wish the best for all of the world's citizens who are suffering at the hands of their corrupt, amoral rulers. This message was intended for the arrogant jackoff leaders and their pundits who sell the US and numerous amounts of poor people everywhere down the tubes. 

Wed, 11/10/2010 - 22:14 | 718507 Buck Johnson
Buck Johnson's picture

You are correct, they will come down with us but they don't have far to go compared to us in the US.  There is a reason why we are so focused inthe US against any types of dissent or rally's or even Homeland security that is spying on everyone so they can catch "terrorists".  It's because the govt. and the institutions of the govt. are afraid of the people.  Imagine you are a retiree who is on disability, Medicare, Social Security and possible food stamps (most retirees are in some form of combination).  Imagine your a 40 year old man or woman that have been working and putting away money in savings and/or a 401k.  Imagine your a married couple who have kids and are living paycheck to paycheck.  Then all of a sudden one fine morning you find out the banks have been closed and that we are in an economic crisis.  The ATM's don't work and stores won't take your checks.  They open up the banks under guard but allow you only to pull out no more than 200 a day, and on top of that all safety deposit boxes are confiscated by the govt..  Gold and precious metals unless in a wedding ban or family heirloom is illegal.  We are told that the govt. checks will be in the form of a govt. debit card which will hold the SS, unemployment etc.. And when you go to the store your paying 10 dollars for a gallon of milk and 12 for a loaf of bread.

People will go crazy in the US because they believed the hype, essentially what our leaders said that those things happen to other countries not in the US.  This will be an economic implosion worse than a depression, people who are used to a certain lifestyle will be in shock and that is what the govt. is afraid of.  Their own people losing it because they trusted institutions to do the right thing and they didn't.  Yes other countries will be brought down to, but they will rebound alot quicker for the simple fact they where already a third world country with a facade of a first world.

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