Which bank is next? – Piggington's Econo-Almanac

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July 13, 2008 at 8:28 AM #13270

Bubblesitter
Participant

The FDIC recently added significant staff in the anticipation of an upcoming surge in bank failures.

I would hate to see any Piggs, or for that matter any of their friends and family lose any money in their “safe” investments. It is inherently unfair to for some in a “safe” investment to pay the price for the reckless activities of others.

Over 10,000 customers with assets >$100K in IndyMac are SOL, probably only getting anywhere from 0 to 50% of their assets over the FDIC $100K limit eventually back.

Remember, IndyMac specialized in “safer” Alt-A mortgages.

http://www.ocregister.com/ocregister/money/homepage/article_1692958.php

Downey Financial and WaMU in my opinion are strong candidates for eventual insolvency and FDIC takeover.

http://mortgage.freedomblogging.com/2008/06/24/how-bad-are-things-at-wamu/

http://mortgage.freedomblogging.com/2008/05/06/downey-wamu-indymac-plummet-in-thrift-industry-rankings/

This is looking to be a rough next year for the banking industry. I was watching CNN last night and they are saying over 80 institutions are on FDIC watch list. FDIC is not releasing names due to concern about causing a run on the banks.

Bubblesitter

July 13, 2008 at 8:36 AM #238439

waiting for bottom
Participant

My wife and I have $150K with one bank. From what I read, as long as they are joint accounts we are covered to $200K. Is this correct? Any tips and how to make sure I am bulletproof (other than putting the cash in my mattress)?

July 13, 2008 at 8:36 AM #238574

waiting for bottom
Participant

My wife and I have $150K with one bank. From what I read, as long as they are joint accounts we are covered to $200K. Is this correct? Any tips and how to make sure I am bulletproof (other than putting the cash in my mattress)?

July 13, 2008 at 8:36 AM #238582

waiting for bottom
Participant

My wife and I have $150K with one bank. From what I read, as long as they are joint accounts we are covered to $200K. Is this correct? Any tips and how to make sure I am bulletproof (other than putting the cash in my mattress)?

July 13, 2008 at 8:36 AM #238632

waiting for bottom
Participant

My wife and I have $150K with one bank. From what I read, as long as they are joint accounts we are covered to $200K. Is this correct? Any tips and how to make sure I am bulletproof (other than putting the cash in my mattress)?

July 13, 2008 at 8:36 AM #238643

waiting for bottom
Participant

My wife and I have $150K with one bank. From what I read, as long as they are joint accounts we are covered to $200K. Is this correct? Any tips and how to make sure I am bulletproof (other than putting the cash in my mattress)?

July 13, 2008 at 8:46 AM #238449

Bubblesitter
Participant

Here’s another link on Calculated Risk on WaMu.

http://calculatedrisk.blogspot.com/2008/06/wamu-analyst-competition.html

1year ago WaMu was $42, it closed yesterday at $4.95. I’m kicking myself for not doing a short play last year when the writing on the wall was so clear for WaMu.

Here’s the top NYSE shorts as of June 30, WaMu is way up there, along with a bunch of other banks.

http://www.bloomberg.com/apps/news?pid=newsarchive&sid=awekWJTZliQg

July 13, 2008 at 8:46 AM #238584

Bubblesitter
Participant

Here’s another link on Calculated Risk on WaMu.

http://calculatedrisk.blogspot.com/2008/06/wamu-analyst-competition.html

1year ago WaMu was $42, it closed yesterday at $4.95. I’m kicking myself for not doing a short play last year when the writing on the wall was so clear for WaMu.

Here’s the top NYSE shorts as of June 30, WaMu is way up there, along with a bunch of other banks.

http://www.bloomberg.com/apps/news?pid=newsarchive&sid=awekWJTZliQg

July 13, 2008 at 8:46 AM #238592

Bubblesitter
Participant

Here’s another link on Calculated Risk on WaMu.

http://calculatedrisk.blogspot.com/2008/06/wamu-analyst-competition.html

1year ago WaMu was $42, it closed yesterday at $4.95. I’m kicking myself for not doing a short play last year when the writing on the wall was so clear for WaMu.

Here’s the top NYSE shorts as of June 30, WaMu is way up there, along with a bunch of other banks.

http://www.bloomberg.com/apps/news?pid=newsarchive&sid=awekWJTZliQg

July 13, 2008 at 8:46 AM #238642

Bubblesitter
Participant

Here’s another link on Calculated Risk on WaMu.

http://calculatedrisk.blogspot.com/2008/06/wamu-analyst-competition.html

1year ago WaMu was $42, it closed yesterday at $4.95. I’m kicking myself for not doing a short play last year when the writing on the wall was so clear for WaMu.

Here’s the top NYSE shorts as of June 30, WaMu is way up there, along with a bunch of other banks.

http://www.bloomberg.com/apps/news?pid=newsarchive&sid=awekWJTZliQg

July 13, 2008 at 8:46 AM #238652

Bubblesitter
Participant

Here’s another link on Calculated Risk on WaMu.

http://calculatedrisk.blogspot.com/2008/06/wamu-analyst-competition.html

1year ago WaMu was $42, it closed yesterday at $4.95. I’m kicking myself for not doing a short play last year when the writing on the wall was so clear for WaMu.

Here’s the top NYSE shorts as of June 30, WaMu is way up there, along with a bunch of other banks.

http://www.bloomberg.com/apps/news?pid=newsarchive&sid=awekWJTZliQg

July 13, 2008 at 8:51 AM #238459

Bubblesitter
Participant

Waiting for the Bottom,

I believe joint accounts have $200K FDIC coverage.
Please call your bank and verify.

here’s some info from official FDIC site.

http://www.fdic.gov/deposit/deposits/insured/ownership3.html

July 13, 2008 at 8:51 AM #238594

Bubblesitter
Participant

Waiting for the Bottom,

I believe joint accounts have $200K FDIC coverage.
Please call your bank and verify.

here’s some info from official FDIC site.

http://www.fdic.gov/deposit/deposits/insured/ownership3.html

July 13, 2008 at 8:51 AM #238602

Bubblesitter
Participant

Waiting for the Bottom,

I believe joint accounts have $200K FDIC coverage.
Please call your bank and verify.

here’s some info from official FDIC site.

http://www.fdic.gov/deposit/deposits/insured/ownership3.html

July 13, 2008 at 8:51 AM #238651

Bubblesitter
Participant

Waiting for the Bottom,

I believe joint accounts have $200K FDIC coverage.
Please call your bank and verify.

here’s some info from official FDIC site.

http://www.fdic.gov/deposit/deposits/insured/ownership3.html
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