Scary stuff:
["FWIW: My broker just advised he had a one hour in house conference call today that was to all RBC brokerage offices.
It was headed by the Chief Economist/Strategist at RBC.
The call my broker said was like hearing a description of Armaggeddon.
Power Points: The U.S. Banking System is close to collapse.
BAC and C are going to go to ZERO.
Anytime their will be a call from President Obama for what is called "Scram Down Legislation" for the immediate Nationalization of these major banks.
The fellow speaking, a George Cassidy said EVEN holders of Preferred Stock will be wiped out.
Mr.Cassidy felt this blockbuster "Scram-Down" Legislation is coming, and damned soon. Max"]
good friend
Later