Yep RBS dropping is extremely bad for Europe indeed. Bad for USA too as the sentiment carries overseas when extreme. Might see Bank of America react negatively today, if it still exists! (I don't know who's around anymore)

Today will be a classic DEAD CAT BOUNCE in terms of gains on positive exchanges, if any.
Usually on the way up, there is a brief pullback and a massive upward trend shortly thereafter.
Down works the same in a crash, it dives then rises and then nose dives.

We are talking short term pain, at least, so the motions will be daily extremes.

I don't care if the market goes up 2000 on any exchange today, it's coming down 4000 either way as I see it. I don't mean exact numbers but the ratio 1 up 2 down probably till Friday.

I just hope we get out of this damn rut soon.

[edit on 7-10-2008 by Atlantican]

Interesting enough, RBS predicted back in about mid summer, that the American economy was going to do into a meltdown this fall.

I wonder if they knew from their books, or if TPTB are making them "pay" for that leak now, or if it is just "stuff happens"?