Fortis Bank predicts US Financial market meltdown within weeks

American ‘meltdown’ reason for money injection Fortis.

28th of June, 9:10
BRUSSELS/AMSTERDAM
- Fortis expects a complete collapse of the US financial markets within
a few days to weeks. That explains, according to Fortis, the series of
interventions of last Thursday to retrieve € 8 billion. “We have been
saved just in time. The situation in the US is much worse than we
thought”, says Fortis chairman Maurice Lippens. Fortis expects
bankruptcies amongst 6000 American banks which have a small coverage
currently. But also Citigroup, General Motors, there is starting a
complete meltdown in the US”

Original press release:

VOTRON BLIJFT AAN NA GOLF VAN KRITIEK
Amerikaanse ’meltdown’ reden geldinjectie Fortis
28 Jun 08, 09:10
door onze correspondent
BRUSSEL/AMSTERDAM
(DFT) - Fortis rekent binnen enkele dagen tot weken op het volledig
instorten van de Amerikaanse financiële markten. Dat verklaart volgens
de bankverzekeraar de serie ingrepen van donderdag om zich met €8
miljard te versterken. „We zijn op het nippertje gereed. Het gaat in de
Verenigde Staten veel slechter dan gedacht”, zegt Fortis-chairman
Maurice Lippens, die volhoudt dat topman Votron aanblijft. Fortis
verwacht faillissementen onder 6000 Amerikaanse banken die nu weinig
dekking hebben. „Maar ook Citigroup, General Motors, er begint een
complete meltdown in de VS.”

Fortis expects a complete collapse of the US financial markets within a few days to weeks.

June 30, 2008 | Filed Under depression

comments

9 Responses to “Fortis Bank predicts US Financial market meltdown within weeks”

on June 30th, 2008

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meneame.net on July 1st, 2008

Fortis Bank espera un colapso total de los mercados financieros de EE.UU. en semanas. (en)…

Fortis Bank espera un colapso total de los mercados financieros de EE.UU. en semanas. Esto explica, según Fortis, la serie de intervenciones del jueves pasado para recuperar 8 millones de €. "Hemos sido salvados justo a tiempo. La situación en…
PsiOp Radio » PsiOp Radio 51 - 080701 on July 1st, 2008

[...] Fortis Bank predicts US Financial market meltdown within weeks http://www.getoutofdodge.net/fortis-bank-predicts-us-financial-market-meltdown-within-weeks/ [...]
Overlord on July 2nd, 2008

This is complete BS. 8billion Euros ? That’s a drop in the bucket.
When will the bourgeoisie stop talking about things they know nothing about?
Jerry on July 3rd, 2008

C’mon, are you kidding me? Consdireng that Fortis is the bank of NATO, does business with the US on a daily basis, kind of dumb for them to predict something like this. Also, 6 billion Euro?
cabo on July 4th, 2008

no is not a hoax, here are the links

http://www.cnbc.com/id/25451427

http://www.forbes.com/afxnewslimited/feeds/afx/2008/06/30/afx5166111.html

This is real.

the hoax theory is just to calm down the public, to prevent any kind of panic
Tara on July 9th, 2008

If the feds or media are trying to cover this up by calling it a hoax then maybe they fear a run on the banks.