Bad news for the country’s major financial institutions is pouring in so fast it’s hard to keep track of it all. Investors are growing more pessimistic as the nation’s biggest financial institutions including Merrill Lynch & Co., Citigroup Inc. and JP Morgan Chase & Co. continue to report dismal numbers from the sub prime fallout.

Recently Citigroup, the nation’s largest bank, received $18 billion in bailout money from outside investors, including a whopping $6.88 billion from the Government of Singapore Investment Corp.

Other investors were Capital Research Global Investors, Capital World Investors, the Kuwait Investment Authority, the New Jersey Division of Investment, shareholder Prince Alwaleed bin Talal of Saudi Arabia and former chief executive Sanford Weill and his family foundation.

Citigroup is posting staggering losses including a recent fourth-quarter loss of  $9.83 billion, or $1.99 per share, compared with earnings of $5.13 billion, or $1.03 per share, during the same quarter in 2006. Citigroup's revenue fell to $7.22 billion in the fourth quarter, down 70% from $23.83 billion generated during the final quarter of 2006.

If you think this will put an end to America’s sub prime credit crisis, think again.  The U.S. economy is headed for a major downturn.  The bad news is already shaking the gains out of Wall Street. The major indexes all lost ground, including the Dow Jones industrials, which finished down nearly 250 points.

To make matter worse, American Express Corp. sent shock waves through the market after reporting that slowed consumer spending and increased delinquencies on credit-card payments will hamper profits throughout 2008.

“When Amex comes out and says that some of their well-to-do cardholders are having problems making payments that's just not good news,” said Brandon Thomas, chief investment officer of Portfolio Management Consultants, the investment arm of Envestnet Asset Management.

When that happens, they will slash the yield investors can make on their money in the U.S. -- and hammer the last nail in the coffin of the U.S. dollar.

This is no longer an issue of what’s going to happen or even when. The U.S. is already suffering the worst housing bust and mortgage meltdown of recorded history.

Now, the only questions remaining are: What do you do about it? How do you safeguard your nest egg? How do you turn lemons into lemonade and transform crisis into opportunity?

Our panel of experts will lay out before you a strategic plan to not only protect your portfolio from the crisis brewing but also show you how to make as much as 472% in just 12 short months.

The video summit will be aired on Thursday, January 24, 2008 at 7 p.m. EST.  Registration is FREE. However, I need to know you’ll be watching this video to get the critical answers you need to protect your assets and prosper.

Sincerely,

S. Lee Franks
Executive Publisher
The Taipan Publishing Group
Excerpted:Taipan Daily This e-mail address is being protected from spam bots, you need JavaScript enabled to view it

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