Which bank will be the next to be taken over???

NEW -> Contingent Buyer Assistance Program
National City.

Wachovia will be strung out until another WaMu-ish deal can be found. Downey will probably follow Nat City by a week. Keep in mind, I have zero inside information about any of them.
 
There was a recent interview with the head of BofA when asked how many banks will be around in a year from now and just off the cuff he said about half. There is 117 on the watch list but this domino effect is just starting.
 
BankUnited, my fav-o-rite whipping bank.

Thursday eve there was a tap on my door after everybody else had

left. It was a fellow in a new green WaMu shirt, going office door to door

selling 5% CD certificates. I told him WaMu was going under shortly,

and he might look for a new job. 3 hours later. . .
 
With my luck, BofA is going down next, since I keep my money in there :)

What's that watch list, can you pls post a link? You are not referring to the FDIC's list of troubled banks, I thought it was not open to the public...
 
awgee said:
Downey Savings and Loan will go down next Friday.
Click to expand...

I agree. The FDIC was too busy dealing with WaMu to deal with taking down a small timer like Downey. They already have had the same OTS warning as WaMu, so tick tock... until Friday.
 
I don't know, but someone showed me an e-mail he'd received from a Member of Congress today and the words that stood out to were "Very bad international news will be reported tomorrow" which is Monday Sept 29th, Followed by "Armagedon"....

Can't wait to see what it is

:shut:
 
PeterUK said:
I don't know, but someone showed me an e-mail he'd received from a Member of Congress today and the words that stood out to were "Very bad international news will be reported tomorrow" which is Monday Sept 29th, Followed by "Armagedon"....

Can't wait to see what it is

:shut:
Click to expand...

Wow! Hypo Real Estate Bank, Fortis, and B&B: don't they have Paulson's phone number?
 
UK mortgage lender nationalized

LONDON (AP) -- The British government is nationalizing troubled mortgage lender Bradford & Bingley, the Treasury confirmed Monday, taking over the bank's $91 billion mortgage and loan books.

The move is intended to preserve the country's financial stability, Treasury Chief Alistair Darling said on BBC radio.

Could this be the news you were waiting for Peter?
 
Citigroup Agrees to Buy Wachovia's Banking Business (Update5)

http://www.bloomberg.com/apps/news?pid=20601087&sid=agVqu_CIqFyw&refer=home

Citigroup will absorb as much as $42 billion of losses on Wachovia's $312 billion pool of loans, the FDIC said in a statement. The regulator will take on losses beyond that amount in exchange for $12 billion in preferred stock and warrants.
 
blackacre-seeker said:
With my luck, BofA is going down next, since I keep my money in there :)

What's that watch list, can you pls post a link? You are not referring to the FDIC's list of troubled banks, I thought it was not open to the public...
Click to expand...

It is not, but that is what i was referring too. If that list got out all 117 would have a Bank run of Biblical proportions.
 
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