FarsightWe are only seeing part of the problem imo. From my post...

Farsight

We are only seeing part of the problem imo. From my post on 07 March:

It's surprising how many people I've run into here in the US who are involved in the financial markets. At present I'm staying in a quite upmarket hotel called Tenaya Lodge at the entrance to Yosemite Park. A couple of days ago I had a coffee and a long chat with a fellow guest here who is a principal at a largish brokerage in Fresno. He is absolutely convinced that Citi and Wachovia are in trouble - he didn't go so far as to say they are going under though - and he knows they are by no means the only financials in some strife. He felt numerous broking firms also have significant, as yet undisclosed exposures, directly and indirectly related to the credit liquidity issues here. He wouldn't name names as he is in the same business.

It is pretty obvious some of the financials here are selling the family china to raise money to manage their illiquidity. If they fail - hello Centro or worse for them.