What are your thoughts on National City? Will they survive?
WFC bait is the news today. they have to do some deal, although they are not as “bad off” as SOV, which has more alt a and CDO exposure. NCC and KEY would make a ton of sense, from a first look. right now, i am wondering if CC/circuit city will survive.
all the “regionals” are in deep, deep poo. imagine the deposit withdrawl pressure they are under right now. have to find a home, fast.
Gecco Wrote: ------------------------------------------------------- > all the “regionals” are in deep, deep poo. > imagine the deposit withdrawl pressure they are > under right now. have to find a home, fast. targets making the usual mill = FITB SOV NCC KEY there are 30 others. fly/briefing are having a field day comment: I know SOV gives you boston exposure, which someone who may have missed out on fleetboston may like. Santander could easily snap up the 75% of SOV they dont own, problem is SOV is stil a “Wait 24 months and see” story, so Santander would have to be willing to clean up after these clowns.
daj224 Wrote: ------------------------------------------------------- > WFC bait is the news today. they have to do some > deal, although they are not as “bad off” as SOV, > which has more alt a and CDO exposure. NCC and KEY > would make a ton of sense, from a first look. > right now, i am wondering if CC/circuit city will > survive. SOV has zero CDO exposure as of a couple weeks ago. Sold it all at a $250M loss.
juventurd Wrote: ------------------------------------------------------- > > SOV has zero CDO exposure as of a couple weeks > ago. Sold it all at a $250M unrealized loss. hmmm, god dammit, I used a morningstar report I printed last night. sorry, assuming you are right. Iwill not blame anyone for my mistake, but morningstar is slow to get notes out.