Which other Banks besides IndyMac do you think will go bankrupt?

Question

Obviously, Indymac is done and f***y and Freddy have the gov. support if needed. Do you guys think any other banks have the potential to go bankrupt? Which ones?

Answer 1

Wachovia is at the top. From investment bankers Lehmann Brothers is nearly dead and in the last breathes.

Don't invest anything in banks. Except Citibank and Bank of America nothing is safe in US.

Answer 2

Any bank that Chuck Schumer doesn't like.

Answer 3

Have a look at this and then you'll see why I say ALL of them.

written by:  Paul Tustain, a principal in a precious metals service-linked institution, has produced what is probably the best capsule describing how our global collateralized debt structure works.  See if you can follow the route your money travels and try to go through the maze and complete the intellectual puzzle.

“ Banks, (stockbrokers), mortgage guarantors and all the major financial institutions on which we depend are now tied up in a web of undelivered assets.  A is the registered owner of a bond payable by B, the principal on which has been credit-swapped out to C.  The terms on controlled by a deed drafted by an investment bank D, which itself receives the interest, which has been aggregated with 30 others and sold notionally to E.  E is foreign, and flattens the FX (foreign exchange) risk with a bank F, who sells and rolls a future on his long currency book, which is bought by another bank for an assured profit by running the position against a higher yield bond bought from a junk-status borrowing customer, which has been insured against the risk of default with G, a major insurer, who happens also to be A.”

These are the styles of relationship which dominate the world in which ordinary peoples’ savings are bound up, and they are profitable in the short term. (for the banks)  This is why financial rather than commercial companies increasingly dominate the list of the top companies in America and Europe.  They find it easier to make profits by providing credit and assuming eventual repayment, rather than by actually demanding settlement; a habit which could put off no end of potential customers.

Answer 4

wamu is on the list. their stock price is dropping faster than schumer's jaw