I was just talking to a friend this morning and he told me that CNN or one of the other news channels just reported that one of the German banks just went down, apparently as a result of their exposure to our subprimes. The news account supposedly said that this marks the first time since WWII that a Gernal bank had gone under, and that it looked like there is a run on banks starting in Germany today.
I just walked in so I haven’t had a chance to verify any of this so you can take it with a grain of salt. Or two.
