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The real credit troubles in these commercial, retail and investment banks are much worse that what is exposed yet. The major banks have exposed not much of skeleton in their closet.

The subprime fiasco is just the tip of the iceberg. The scandal and scam on credit instruments will surprise every one once everything is exposed. The problem for these Banking executives is that they work for public companies. They will be exposed one after the other.

You are talking about mega Enrons and hundreds of them. The credit infrastructure can collapse in no time. If credit is not available, recession is imminent and that will soon change into depression.

The Government will try to bail out these large banks to maintain stability in the financial systems. But the magnitude of the losses is so large, even the Fed will have to think many times.

Dollar market is guessing it. People are dumping dollar and buying gold. The stock market realized the same very late. But the route in Wall Street is real. Stocks are getting distributed fast into the eager crowd that wants to buy them. Even the distribution stage is coming to an end signifying a fast fall in the equities markets worldwide.

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