Banks in trouble - AGAIN!

Citigroup today was down over 20% as people worry if the bank can survive. Vikram Pandit may have to resign. The bank already go 45 billion in bailout money and needs more. Taxpayers are angry that the bank bailout money did not rescue citigroup.

Nortel files chapter 11 bankrupcy protection today.

Its stock went from $1,100 per share in mid 2000 to seven cents today. This was once the largest company in Canada. Let that be a lesson to all. Many thought that this high tech wonder would rule in the future, but instead it is on its way out. In fact, with our current global economic crisis we will see many more companies bite the dust as we go into financial catastrophe.

I predict a complete collapse of the financial system will take place and that skeptics will become believers.