Tag: Wall Street crisisSort
Kuwait, Saudi Arabia and even the mighty Dubai are getting dragged down by the global economic turmoil. “The global financial storm rolled across the Persian Gulf on Sunday,” reports the WSJ, “as Kuwait’s central bank guaranteed bank deposits and cobbled together a hasty bailout for one of the country’s largest banks.”
Some Very Healthy Resource Stocks Are ‘Shockingly’ Cheap
Adam Lass Says US Blue Chips Could Lose Another 34%
These are worrying times. Not only for investors, but also for anyone with their savings in US banks. Already, some of the biggest names in banking have gone belly up. How do you know whether you bank is safe or not? Keith Fitz-Gerald in Money Morning says there are three steps you can take to make sure your bank is safe.
Wall Street is still in chaos. Yesterday, regulators seized America’s biggest savings and loan bank WaMu (NYSE:WM) and sold it to JPMorgan Chase (NYSE:JPM). It was the most spectacular bank failure in US history. The crisis, and the bungled attempts of the government to ‘fix’ it, is setting up some great contrarian investment plays.