Posted by: tristar3research | April 22, 2009

$1.7T Demanded by IMF to Recapitalize Banks

Dear IMF: Where oh where has all the taxpayers’ savings gone? You just figured out that the global economy will contract by 1.3% in 2009? Losses from securitized assets will reach $4T, claims the IMF…The UK insisted the IMF retract a call for the UK bailout to exceed $350B and denied that the cost exceeded 13% of GDP… Hypocrisy is available in any color or shape you want…

The UK and IMF Depression Dance! Fungible!

The UK and IMF Depression Dance! Fungible!

WSJ reports U.S. and European banks need to raise $875 billion in equity by next year to recapitalize banks to a level similar to the pre-crisis years – and twice that amount to match the level of the mid-1990s, the International Monetary Fund estimated. IMF bailout offers? No thanks! The steep funding requirements reflect a financial crisis that the IMF said continues to deepen along with the global recession. …… Of that amount, banks are confronting $2.5 trillion in losses, insurers $300 billion and other financial institutions $1.3 trillion.

Oh, Bother! Can I amend your stats, Rabbitt?

Oh, Bother! Can I amend your stats, Rabbit?

The banking sector has already written down $1 trillion of those losses, said the IMF, which didn’t estimate how much other financial firms such as insurance companies and hedge funds, have written down thus far. Oh, Bother!

Always a party crasher! “Foreign bond holders, like the government of China, have reportedly told the Obama Administration that further losses to debt holders of US banks will result in a boycott of US Treasury auctions.”   http://tiny.cc/9ywnj

That’s a declaration of economic warfare and the fact that such governments have issued that sort of threat, if its true, needs to be disseminated far and wide and needs to also result in an immediate and total consumer boycott of all products made by such nations according to some pundits…hey, they own the U.S. now. It’s really a systemic financial crisis you can handicap at home!

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