Word is that Dutch/Belgique banking consortium Fortis will fold within the next few days. This is big time. Fortis is one of the 20 largest corporations in the World. They own or own parts of literally hundreds of the leading financial institutions all over the World.
An event like this could really tip the scales and make a measly 700 billion bailout of American institutions seem like a drop in the bucket. If this is true, it means that the World's economic woes go a lot deeper that a couple of trillion in bad mortgage debt.
Reef'em up an' batten down! Nor'Easter blowin'.