Run on Latvian Bank, sign of things to come?

[malta]

Is this the sign of things to come. Western governments will borrow over $10tril. in 2011 with the number expected to be higher in 2012.

"Latvia's largest bank is scrambling to contain a run among depositors gripped by fears of the bank's imminent collapse.
The panic among Swedish-owned Swedbank's depositors began Sunday after rumors spread that the financial institution was facing legal and liquidity problems in Estonia and Sweden.

Swedbank's Latvian chief Maris Mancinskis on Monday called the rumors "absurd." He said the bank is functioning normally and all depositors will have access to their funds via bank machines.

Mancinskis said some 10,000 Latvians withdrew over 10 million lats ($20 million) on Sunday."

[liberty]

There will be plenty of runs on plenty of European banks before the present crisis has any chance of resolving itself. Many European banks, large and small, have spent years loading up on sovereign (i.e. government) debt, under the assumption that these governments would always be able to pay these debts off. This is obviously no longer the case and the bondholders will suffer the consequences.

[cottonpicken]

Your ASSuming this is a sane and logical
world,liberty.


My bet is those toxic assets end up on tax payers
shoulders,even OURS.

Our banks are in this,but nobody knows how deep.

Losing one or two of ours is not out of the
question,which at that point our government would
step in and recapitalize them by buying said assets.

ISNT REALITY FUN!!!!!!!

So our children will not only be paying off toxic
assets of b.c,ontario and quebec,we will be
spending money on the pigs of europe including
the fags(france and germany,thats my euphemism
cotton owns it,registered trade mark 12/12/11
agriville)

And we still get keep our super expensive f-35's
that don't work in the rain,even though we are
headed towards a full blown federal budget crisis.

Would you like me to show you actual exponential
growth curve numbers on the cost of health care
and the baby boom generation,or should we save
that for halloween night when real bad stories are
cheered?