Already past there- and still falling.....

 

No, Wells has a strong balance sheet. As far as the large banks, such as WaMu and Wachovia, we have probably seen the end of failures, it will probably be more smaller banks in areas where the housing market has collapsed such as LA, South Florida, NYC and the Bay Area.

 

It made a small recovery, it back to around 570 down last I saw.

 

Citi is just fine, if they were in any danger they wouldn't have have been in negotiations to buy Wachovias assets, you cannot take on debt like that, even at a huge discount, if you have a weak balance sheet.

 

Citi should be fine. If I were you I would look into moving into a small local bank that did not deal in the subprime market, such as the bank I work at.

 

I'm too busy laughing at the banking failures and the defeat of the buyout bill to look at the DJIA.

 

The collapse of the economy is definitly a laughing matter.

 

Even a dead cat will bounce if you drop it from high enough.

 

i'm actually surprised wachovia lasted this long. some 'experts' predicted they would eat it way earlier in the year. they were i trouble before their foray into the western market, but their stumbles and overzealous spending out here probably did help to finally topple them. every branch of theirs i've seen has been like a ghost town.

but wells fargo should be fine. they're one of the few that hasn't been going hogwild scooping everything(one) up. their mortgage investments were minimal as well. citi+BofA+wells were the ones that were supposed to make it through all of this. i wouldn't worry too much about them.

all of that said, these are most definitely some tough times we're living in. the economy is cyclical, but most of us have never had to deal with conditions like these or are too young to remember. it's pretty disconcerting to see so many people, esp young families starting to really struggle out there. Folks that that were pretty well diversified in RE and stocks/mutual funds are feeling the pinch as well. the crazy thing is that the markets aren't even close to rock bottom yet either.

 

My prediction is that National City will be the next bank to roll.

 

deleted.....

 

just a case of some buying back in on big dips.

Ends close to -600

lol still dropping after the bell. Now at -615

-630

-650

-660

-667

-690

still reaching towards my -700 guesstimate close

 

well, my fiance is still worried about her job......

 

whos next?

 

She isnt management, she shouldn't worry. If we have an opening Ill let you know though.