[Capt. Tom]

From US News-
Bloomberg reports Roubini says that if losses are really as large as he fears “it means the U.S. banking system is effectively insolvent because it starts with a capital of $1.4 trillion. This is a systemic banking crisis.” He also warns the disease is spreading to Europe, where the Royal Bank of Scotland Group faces an estimated $41 billion loss. snip

[misterrob]

If the banks actually valued what they carried on their books the game is over. Denninger said today on his blog that the banks have to be remade and fast. Screw the shareholders, convert the bond holders to equity, revalue the assets to really low levels and the deed would be done.

[dila813]

I saw this too.....nationalizing the economy would make it worse.

This is the fear on the street.

“......new economy.......”

all kinds of scary inferences in that speech in the context of what was happening over the weekend.

[Enterprise]

"U.S. banking system is effectively insolvent"

OBAMA'S FAULT!

[Centurion2000]

Bloomberg reports Roubini says that if losses are really as large as he fears “it means the U.S. banking system is effectively insolvent because it starts with a capital of $1.4 trillion. This is a systemic banking crisis.” He also warns the disease is spreading to Europe, where the Royal Bank of Scotland Group faces an estimated $41 billion loss. snip

Good God almighty ..... kinda makes me wonder why all the stores are running out of ammo.