OAG
Thinks s/he gets paid by the post
Something for those recalled retired FDIC workers to do:
http://www.cnn.com/2008/US/07/26/fdic.banks.ap/index.html
http://www.cnn.com/2008/US/07/26/fdic.banks.ap/index.html
I have a feeling this is only the beginning. Most banks are in the same boat.
Wonder if Arizona and Florida are next.Hmmm, Nevada bank with lots of construction loans. I am shocked, shocked that they ran into trouble (not).
None, but after observing two banks in my little town closing their doors I would wager there are more big bank busts to come. Most banks jumped on board the no holds barred lending frenzy so they are probably facing the same problems as the failed banks.I'm curious: how many bank balance sheets have you looked at recently in forming that opinion?
I think as far as smaller local/regional banks go, it partially depends on location. If you live in a place where the housing bubble never inflated, there are far fewer toxic mortgages for a bank to swallow. There's a tendency to only notice what the media are telling you. All they'll talk about is money center banks and the regionals in states/metros where there is a popping bubble.I am curious as to why you think just a few banks will have problems.
None...
Did you know there are 7500 banks in this country. How many of those bank balance sheets have you looked at?Fascinating.
Did you know there are 7500 banks in this country. How many of those bank balance sheets have you looked at?
Aren't many opinions from people more informed than you even more useful? Many folks that do read bank balance sheets have the same opinion that more banks will fail.In any case, an informed opinion is a lot more useful than repeating what some dude trumpeted by the media has spouted.
How shall I put this? 76 problem banks and thrifts out of 8,500+, not all of whom will actually fail? So less than 1% are even "problem" institutions? Pardon me for not running for the hills.
For several years there have been an artifically low number of bank failures, since even the inept and overly aggressive banks couldn't manage to blow themselves up. Now that the environment is less friendly, it would appear that we are getting back to a long term normal level of bank failures, along with a long term normal level of loan losses, etc. So while it may seem like the world is ending, this is just what normalized loss/failure levels look like over the long term.
So do I think more banks will fail? Sure. But it is far from clear that this is a big deal, and I am reasonably confident that the failed banks will be mostly smaller banks in the worst real estate markets, and many/most of them will not be publicly traded (less access to new capital).
I would wager things are alot worse than they make them out to be and believe we will see both more small and large bank failures before this mess is over.
Obviously the problem with you is you think you are a lot smarter than you are.Based on your painstaking evaluation of zero banks. Very credible.
I am done trying to teach this pig[-]let[/-] to [-]squeal[/-] sing.
Not here to make friends. I am here to get other opinions and learn. It is kind of funny how some dish it out regularily but are so thin skinned they can not take it themselves."Razor has not made any friends yet"
I am shocked, shocked I tell you.
Another addition to the iggy list. Say hello to ladelfina for me.
Until I read this and looked through all the stuff in my profile, I didn't even know there *was* such a thing."Razor has not made any friends yet"
I am shocked, shocked I tell you.
I'm done.You know, you guys could conduct this pissing contest by pm and spare the rest of us.
No one knows how many banks will fail because many have assets that have not been "marked to market" In other words the institution tells us how much these assets are worth , not the market.This is the reason there is no trust between institutions.Balance sheets don't tell us the real value of the crap on the books.Time will tell but I'd be real skeptical about anyone calling a bottom in financials.
Lets see now. Would Bernanke and the FDIC give us the worse case scenario or would they sugar coat it not to cause panic. I would wager things are alot worse than they make them out to be and believe we will see both more small and large bank failures before this mess is over. They were all using the same lax standards for lending money and did not want to miss out on the easy money.
Sometimes you have to read between the lines.