"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 [...]
Posted in Global Economy, News 
Tags: bankruptcies, Citigroup, collapse of banks, General Motors, US financial markets 
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This was an article on Market Watch. I wanted to share with all my reader in its entirety.
Thursday, March 27, 2008
provided by Paul B. Farrell
Market Watch
No Matter who’s elected president, the debt party’s over
Reason No. 1: "Most Americans have yet to feel any of the costs of the Iraq war," write Nobel economist Joseph Stiglitz [...]
"The world’s fifth-largest pension fund will no longer buy US Treasuries because yields are too low. The move signals what could be a big shift by financial institutions away from US government debt into higher-yielding assets.
South Korea’s National Pension Service, which has $220bn in assets, said on Wednesday it wanted to broaden its range of [...]
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