Bank of America “Near Insolvent”? Bank Run Possible?

Bank of America “Near Insolvent”? Bank Run Possible?

I covered a story last night about the $650 BILLION of “unrealized losses” about to hit the Big Banks in the United States.

Wild story!

I will post that full report below in case you missed it.

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But what I really want to focus your attention on is a couple quotes from a Yahoo News article that I featured in that story.

Because it’s not getting nearly enough attention….

It’s a quote from Larry McDonald saying that Bank of America is INSOLVENT at a 6% Fed Funds rate.

Read that again.

BOA — INSOLVENT — in the same sentence!

So, you might be asking, “what is the current Fed Funds Rate”?

It’s 5.5%.

Uncomfortably close to INSOLVENT.


He was quoted in the article I’ll

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