Apparently the size of the bank is no longer an issue and virtually anybody can fail or almost fail with Wachovia in mind. Who else stands a good chance of being wiped out?
NCC KEY SOV
Most of em.
I think the problem too is just what you’re doing. You are Looking for someone to fail. Rumors start flying and eveyone exits the stock and the bank goes under…
NakedPuts Wrote: ------------------------------------------------------- > Most of em. I was going to write exactly that.
bigwilly Wrote: ------------------------------------------------------- > I think the problem too is just what you’re doing. > You are Looking for someone to fail. Rumors > start flying and eveyone exits the stock and the > bank goes under… The last thing I want is more bank failures. In no way does a bank failure benefit me. Wall Street, Rumors, and Fear never mix well. WaMu didn’t surprise me but the fire sale of Wachovia was pretty damn shocking.
Chuckrox8 Wrote: ------------------------------------------------------- > bigwilly Wrote: > -------------------------------------------------- > ----- > the fire sale of Wachovia > was pretty damn shocking. not shocking at all. the day they fired ken thompson, you knew it was either go to the matresses to flip the bank to a giant. the latter happened.
NCC is next
No question that bank failures don’t benefit anyone. The WAMU thing didn’t surprise me because I got used to it. If I had been asleep for a year and woke up and someone told me that WAMU was gone, FNM and FRE were under gov’t control (whatever), AIG bailed out with $85B, BSC & LEH gone, MER gone, etc. I would wet myself.
Not looking good for NCC…down to $1.60.
US Treasury
My heat map looks like a tarrantino movie
Jscott24 Wrote: ------------------------------------------------------- > My heat map looks like a tarrantino movie like this. comitted it to memory. keep em coming
one (hopefully) good thing about banks failing is that the bad debt is written off so if/when the bailout is rewritten and passed, there will be less for us to buy. at least that is what i keep telling myself.
I’m not sure if that’s true. Didn’t Citi buy all of WB’s assets and related liabilities? Do they plan to write down the MBS’s completely when it closes or don’t you think they’ll hold out knowing they’ll be able to dump them on the treasury eventually? Also, didn’t FDIC agree to take any losses above $30 billion? That still leaves some significant room
Any thoughts on FITB?