NYWritersGroup 01:23:44 AM Aug 02 2008

An excerpt from one of my newsletters: "...As many of you know, I have advocated being in cash for quite some time -- since October 2007 -- and I'm still expecting a major stock market crash to occur after August 2008. Yes, we've been in a tumultuous stock market, but it will get worse.The economic signs are all around us. The economy is primed for a major collapse. The real estate market has also lost all its gains from the last few years. Consumer confidence is at a 16 year low. Oil is heading higher. Is $200 a barrel oil far away? Can we also finally acknowledge that SUV drivers have indeed effected the price of gas? Several years of gas guzzlers on the road (along with increased China consumption, etc.) has finally caught up with us. Is it really a surprise that gas has gone up? Is it any surprise that OPEC has no sympathy for gas guzzling American drivers? Food is also getting more expensive, and food packaging is getting smaller... PeterCayce.com

NYWritersGroup 01:23:13 AM Aug 02 2008

...and we haven't heard the end of financial woes for the stock market. There are more "shoes to drop." And as more people are unable to pay their bills, there will be more foreclosures, etc. And will someone please tell the FED that you can't support capitalism and a free market economy when profits are good, and then turn around and socialize stock market losses. When the FED bails out banks like Bear Sterns, they create false bottoms. Bottom-line, we are now on the precipice of an economic free fall. Even with a short-term temporary economic reprieve, the United States economy is poised for a major crash. Get out your financial lifeboats, folks. And batten down the hatches. As the summer passes into a distant memory, the proverbial sh*t is about to hit the fan. Once again, look for a serious crash after August 2008. PeterCayce.com

TBlasi5847 04:32:24 PM Aug 01 2008

Ask the manager of your bank, ask if the bank is on the governments WATCH list.

TBlasi5847 04:31:25 PM Aug 01 2008

Chapter 7 means the business is untenable and will be liquidated in order to help pay off its creditors. The filing was Thursday. ***********************************************************Gee this wasn't supposed to happen! There are currently 154 other financial instatutions on the governments WATCH list, one wonders about them.

NickCherryl 01:17:11 PM Aug 01 2008

Sure hope Sen Shummer is happy after running this bank into the ground.

CMerr6240 10:43:53 AM Aug 01 2008

the customers need to get all there money. What a bunch of thieves. They should be first in line for the money after the banks assets are sold.