US bank 'to fail within months'

BBC ^ | 8/19/08

[NVDave]

a) even stopped clocks are right twice a day.
b) he’s no longer the economist for the IMF. It was a position he held in the past. He is, however on the NBER.
c) he has done work examining the fallout of banking collapses in several other nations in the past.

[DeLaine]

Who do you think it might be??

[xc1427]

A salient observation...I completely forgot about Lehman Brothers.

[what's up]

it’s amazing to me that you guys are putting stock in this guys musings. usually when there is a thread about the IMF

Even when it's a lefty like this IMF guy probably is, Freepers love to eat up the MSM doom and gloom.

Amazing.

[Proud_USA_Republican]

Wamu received 7 billion in funding a few months ago by an investment firm to take a 16% ownership in the company. While I expect more pain for them, they are now capitalized well going into 2009 which is the most important thing for survival right now. They many eventually get bought out by a JPmorgan, Citi, or large foreign bank like Barclays or HBSC, but not for at least another 12 to 18 months, and will not be a bailout type scenerio.

I believe its going to be Wachovia.

[xc1427]

Your last sentence makes a lot of sense, if they have received billions in capital...and I’m not doubting you.

Thanks for the information.

[Aria]

In case you missed it this is an excellent article on our economy from a guy who accurately predicted the future ..... so far.

http://www.freerepublic.com/focus/f-news/2064143/posts

[SeaHawkFan]

As long as you have less than $100,000 with them, you’ll be OK. If more, you’d best spread it around.

[BunnySlippers]

Actually, in terms of market cap it could very well be Wachovia. Or an investment bank.

[cynwoody]

http://www.bankofamerica.com/Survey/online-secure/BankOfAmerica/

Hah! And where did that link really go? Guang Dong Province? North Ossetia?

[MaineConservative]

30. Zions Bancorporation (Salt Lake City, Utah) 53,597

What a Zionist plot!! :-)

[SargeK]

Classic phishing.

Barely a millimeter better than a Nigerian fraud scheme letter.

You can get a twofer - get your identity stolen AND make your computer a botnet slave.

[Palladin]

Yeah...that’s what Obama thinks.

[L,TOWM]

And don’t forget about the billions in auction rate securities they are going to have to buy back and pay some hefty fines on because of the lying to customers to get them to buy ARS in the first place. Plus the civil suits on the misreps they made the ISSUERS of the ARS. Their securities arm has turned from a cash cow into a cash shredder.

Actually, it would not break my heart to see Wachovia’s securities arm go down. It would probably reduce my workload. (I probably should’nt have typed that...)

[wastedyears]

Same here, I don’t have an account with them.

[Ruy Dias de Bivar]

bookmark

[steve86]

I don’t have to worry, my bank is a small regional bank and most of my $$ is in a Credit Union.

Many or most all credit unions are OK but don't assume the same about "small regional banks". A relative asked me to research one where she has an account almost exceeding the insured limit. I had not previously heard anything negative about this bank headquartered about 150 miles from me. Turns out it receives the very lowest "star" rating from bankrate.com. No other financial institution I personally have looked up has a rating in that category (except those that have already failed).

[nothingnew]

What are the numbers to the right of those banks?

$$$---Dollars

FMCDH(BITS)

[steve86]

Meant to add that the share price falling from $20 to $1.xx in the past few months was a real tip off on the problems at this regional bank — but I hadn’t been following it as I had no reason to.

[GATOR NAVY]

You can get a twofer - get your identity stolen AND make your computer a botnet slave.

Sweet!