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Big Bank Failure: One of the “Too Big to Fail” Banks Is Now Gone

Written by Gary North on November 21, 2011

The international experts who are in charge of monitoring the solvency of major banks published a list of the 29 most important banks. If one of them goes down, the report said, this could threaten the international financial structure.

Unfortunately for the experts, by the time the report was published, one of them had gone belly-up. It was bailed out by the Belgian government. The bank: Dexia.

This bank was one of 20 major banks, called Primary Dealers, that the New York Federal Reserve Bank used to carry out its operations in the capital markets. (Until October 31 — Halloween — so was MF Global.) The experts at the FED had no clue. As usual.

As recently as July, this bank had been given a clean bill of health by Europe’s bank-rating agency.

This caught the credit-ratings agencies flat-footed. As always. These agencies have shown repeatedly that they are close to useless as far as early warnings are concerned.

On the list of 29 crucial banks, 7 U.S. banks appear.

Of course, today there are only 28 crucial banks.

The entire banking structure is at risk, according to the experts. But they have proven to be blind men leading the blind. Their promise of a way to monitor and intervene a domino effect is a case of blind man’s bluff.

There will be no warning.

You have been warned.




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26 thoughts on “Big Bank Failure: One of the “Too Big to Fail” Banks Is Now Gone

  1. PolicallyDisgusted says:

    And Yet, here we sit, no voice, no vote, no nothing. Makes my stomach turn. While government pisses away the wealth willy-nilly with out a care in the world. No intelligent thought what-so-ever.

  2. WOW, how can you have intelligent thought when you have far left nuts running the financial parts of America,, to get into this position you must have an IQ of 9 or less or know the president !!! look at geitner and bernake.. fill my pocket and the hell with America !! and Americans

  3. When you listen to this Liberal speak it tells you why we are not getting anywhere with economic policy in the USA , we have NO LEADERSHIP

    Thrill Is Gone? Matthews Turns On Obama; 'I Hear Stories That You Would Not Believe'


  4. Marty Fartster says:

    All the Politicians, lobbyists, and contractors that have basically ripped the American public for billions now have Obama to thank for printing TRILLIONS for covering it up …. Hey Corzine whatcha thinkin got any restitution in mind?????

  5. Yes their plan is coming together very nicely I would say. No need to buy toilet paper any more. You will be able to use (your) government backed notes.

    What a shame !!!

  6. Apparently, when they failed, they had already taken cash and gold from customer's accounts and fled. This is a big deal that will hurt many people.

  7. "No intelligent thought what-so-ever" you say? You, and most others are NOT listening!!! Try Dr. Alan Keyes! He's just one with a ton of good ideas. Even 'Joe-the-Plumber' referred to him early on (before the STUPID McCain camp shut him up)Quit complaining and start actually looking and listening. You HAD a chance to have President Keyes instead of this usurper!

  8. Dean Palmer says:

    I swear, I am so sick and tired of always hearing about this krap. It just never ends! And these people are the experts? Sheesh! What a bunch of greedy dumbaz bozos! OK then, let's let them ALL fail. Let it all go bust. Serves 'em right to lose everything. That's the price you pay for GREED! The world economy falls flat on its face and the effect is of doing a hard "reboot" on the entire planetary banking system. All debt (foreign and domestic) is wiped off the slate and everyone starts clean with NO debt. We all go back on the Gold Standard and no country (including the USA) is allowed to print more currency than can be backed by either the gold reserves or GNP (or both). Now, let's see if the banks and the world's wealthiest families can finally get it right. Oh, and here in the USA, we permanently abolish the Federal Reserve and put control of the money supply back in the hands of the government where it's supposed to be.

  9. Bruce R Porter Sr says:

    Actually disgusted, these are "preplanned fires" and the GOAL is to enslave us.

  10. James Boardman says:

    God help us where will it stop?

  11. Dexia Bank was bailed out by the Belgian government. They are not history.Have I missed something here?

  12. Hate to tell you people this, God is not coming so stop hoping that he is. Step up and do something for yourselves, and not believe in other things that don't exist.

  13. Where will it stop? When the people wise up, stop voting party and start doing research other than listening to tabloid spew considered news and discover that our govt is corrupt and most career politicians need to be voted out along with some administration officials. In other words, we need a good housecleaning and elect people that have a business background not law.

  14. It will ALL end when we can get rid of this Moronic thief muslim and try to get things straight again. I would have never balied them out in the first place, after all no body would come and bail me out if I had a problem.

  15. Jaclyn Barnes says:

    James,G-d is the only one who,can help the people of America!Plus other countries that is if they believe in him!G-d can give the American people the strength they need,to stand up to this.Illegal imposter Marxist Dictator Barrack H.Obama,and all his other cronies!But first the American people have to start turning back to G-d!I live here in Jerusalem,Israel the only way that you,get through a day.Is by depending on G-d and having faith that,he will help you!

  16. Yet to be determined. Wouldn't surprise me though. If taken from customer accounts that is definitely a criminal act and should be prosecuted. I understand the cell next to Madoff is available.

  17. Drinking too much of the Ron Paul Kool-aid.

  18. The bail-out has not yet been completed. As of this morning it looks like it might be falling apart.

  19. The new world order is coming to a bank nearest you !

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