It pains me deeply to announce that, despite the massive government rescue, yesterday’s collapse of Citigroup could ultimately lead to a shutdown of the global banking system.
For many years, I hoped this would never happen, and I thought we might be able to avoid it.
Indeed, that’s why, my firm, Weiss Research, first began rating the safety of the nation’s banks in the early 1980s, and why I later founded Weiss Ratings, a separate subsidiary dedicated exclusively to safety ratings — on thousands of banks, insurance companies, brokerage firms, mutual funds and stocks.
I subsequently sold the Weiss Ratings subsidiary to Jim Cramer’s organization, TheStreet.com; and today, my former company is called TheStreet.com Ratings.
Citigroup collapses! Banking Shutdown Possible
The Home Of The Bruce Collins Show
