Interesting rant from here regarding this:
This:

Lehman Brothers took writedowns of just $200m on its $6.5bn portfolio of sub-prime debt in the first quarter even though a quarter of the securities had “junk” ratings, typically worth a fraction of face value.
Willem Sels, a credit analyst at Dresdner Kleinwort, said the banks are beginning to face waves of defaults on credit cards, car loans, and now corporate loans. “We believe we’re entering Phase II. The liquidity crisis has eased a little, but the real credit losses are accelerating. The worst is yet to come,” he said.
The jump in corporate bankruptcies has not yet been picked up by the usual indicators, which tend to lag the market, lulling investors into a false sense of security. The true losses are already known to specialists in the business, said Mr Sels.

Here:

Time to print another, say 250B of phony west money and plug up the lacerations.
But notice the endless devil spin of these west britzie monkeys, the obedient slit cleaner of the US thug baboon. The britzie bastard calls their prolapsing “global” again.
Nothing could be further from the truth. This is west collapse and west collapse only! It only affects west holdings. Surely, they’re around the globe, strewn like parasitic vermin, like the 7 hundred US military bases raping the globe still today, but it’s all just the collapse of the west and its “global” tentacles, no one else’s.
These western scumbags would love to have everyone race to help them and stop their prolapsing, their oblivionisation, their cliff fall, their end and so they spread hate propaganda, attacking sound markets like the ASEAN, SOC, Russia, in hope to fear trip the unsuspecting reader into somehow aiding the dirty west demise.
There’s nothing that can be done. The dollar’s dead and as such is the west. There’s nothing anyone can do. The only way the dollar could be brought back to life, or any other west currency, is if the world again agreed to use it as the global currency. But that’s not going to happen, is it? Even Switzerland, a classic western saxonic bank nation, has dumped the dollar and washed its hands clean of this dirty bog paper.
There’s nothing that can bring it back. Not even WWIII anymore. The sooner the western child murder watching BBC bitches go bankrupt and on a gigantic sale and become Russia, China, India, Pan-Arabia, etc, the better for the western monkeys. The longer they play this Telegraph, BBC, CNN, Bush, Brown bullshit west game of printing money and pretending they’re solvent, the harder their own end.
It’s almost certain today that it’s going to end for the west with west-wide martial law now. And that’s a good thing too. No more disgusting vermin is more deserving of its own medicine.
All around, great news. Just don’t cave in to these western whore charlatans when they try fear trip you into some Chinese collapse or some huge attack of Georgia on Russia, or some US/Israel “surgical” nonsense on Iran. All total bullshit stemming from their collective slide into hell. Just drivel of a sore loser. That’s all that the west news are today: just the drivel of an insane baboon. Good for a laugh and proof that indeed the no-west world is arriving, everyday faster and faster.

Opps indeed.

Posted by: Cloned Poster | May 30 2008 11:51 utc | 3