THEY'RE ALL BANKRUPT!

From http://www.larouchepac.com/news/2007/09/08/theyre-all-bankrupt.html



September 8, 2007 (LPAC) - At the International Ambrosetti Workshop in Cernobbio, Italy, international bankers and economists discussed how much the international financial system has already disintegrated, and which large bank will announce bankruptcy first, the Italian daily Corriere della Sera reports today.

According to Kenneth Rogoff, former chief economist at the IMF, at least 1.3 trillion dollars have evaporated. At least one large bank will go bust, Rogoff says, adding that Moody's could go bankrupt too: "They make 45% of their profits with ratings on high-risk assets." But nobody knows where the largest holes are. "Not even the banks know that," says Alessandro Mitrovich of the Royal Bank of Scotland. "Even if we sat around a table, we would not get a picture of the situation."