Safe(r) banks

[34f3f3f]

I totally agree peterb, that’s why I suggest cross referencing more than one list. One hopes that, if a black list does anything, it may compel some banks to defend their positions, with perhaps a little more transparency. Of course, if anyone is fortunate to stumble across the FDIC list, I for one would take it seriously. I wonder how legal withholding this information is? Are the courts sympathetic to Catch 22 scenarios? I guess it may depend on the judges politics.

[ucodegen]

Wamu was offering a 12 month cd online with an add on feature for 5% last week. Best I’ve seen. They also have deals at the branch level for thsoe who are willing to speak to the manger and have a 90 K to put down.

I would be very careful with Washington Mutual. Their corporate bonds are having a yield to maturity of 28.675% and a coupon rate of 4.0%. Maturity date 1/15/2009. I think you could call this a death-watch rate? WaMu is trying to get capital in fast… It is easier to pay out on the CD rates than the Bond rates. If WaMu needed to float bonds, it would have to match the current 28.7%+/- rate. Payout on 5% is easier.

[ucodegen]

Wamu was offering a 12 month cd online with an add on feature for 5% last week. Best I’ve seen. They also have deals at the branch level for thsoe who are willing to speak to the manger and have a 90 K to put down.

I would be very careful with Washington Mutual. Their corporate bonds are having a yield to maturity of 28.675% and a coupon rate of 4.0%. Maturity date 1/15/2009. I think you could call this a death-watch rate? WaMu is trying to get capital in fast… It is easier to pay out on the CD rates than the Bond rates. If WaMu needed to float bonds, it would have to match the current 28.7%+/- rate. Payout on 5% is easier.

[ucodegen]

Wamu was offering a 12 month cd online with an add on feature for 5% last week. Best I’ve seen. They also have deals at the branch level for thsoe who are willing to speak to the manger and have a 90 K to put down.

I would be very careful with Washington Mutual. Their corporate bonds are having a yield to maturity of 28.675% and a coupon rate of 4.0%. Maturity date 1/15/2009. I think you could call this a death-watch rate? WaMu is trying to get capital in fast… It is easier to pay out on the CD rates than the Bond rates. If WaMu needed to float bonds, it would have to match the current 28.7%+/- rate. Payout on 5% is easier.

[ucodegen]

Wamu was offering a 12 month cd online with an add on feature for 5% last week. Best I’ve seen. They also have deals at the branch level for thsoe who are willing to speak to the manger and have a 90 K to put down.

I would be very careful with Washington Mutual. Their corporate bonds are having a yield to maturity of 28.675% and a coupon rate of 4.0%. Maturity date 1/15/2009. I think you could call this a death-watch rate? WaMu is trying to get capital in fast… It is easier to pay out on the CD rates than the Bond rates. If WaMu needed to float bonds, it would have to match the current 28.7%+/- rate. Payout on 5% is easier.

[ucodegen]

Wamu was offering a 12 month cd online with an add on feature for 5% last week. Best I’ve seen. They also have deals at the branch level for thsoe who are willing to speak to the manger and have a 90 K to put down.

I would be very careful with Washington Mutual. Their corporate bonds are having a yield to maturity of 28.675% and a coupon rate of 4.0%. Maturity date 1/15/2009. I think you could call this a death-watch rate? WaMu is trying to get capital in fast… It is easier to pay out on the CD rates than the Bond rates. If WaMu needed to float bonds, it would have to match the current 28.7%+/- rate. Payout on 5% is easier.

[mercedes7]

Two of the safer banks are:

(Agree) Union Bank of California
US Bank

Might want to look at their stock price(s) to see what Wallstreet thinks of them.

UB Union Bank is trading close to it’s high – that is a clue. Beyond that, they are a very conservative bank. Their CD rates stink, but frankly in this environment, I’m not chasing high CD rates anymore….can make more money in the stock market anyway (on the short side).

The fact that Wamu was/is offering a 5% CD tells me just how desperate they are – I would stay away! I don’t think they will survive much longer. I actually closed my last account with them last month. Had less than 100K but just didn’t want the hassle when they shut their doors (just my opinion of course).

Bank of America is also offering a decent short term rate and they will be one of the few that will survive, but not without more pain to come.
Wells Fargo is also supposed to be safe (but in this environment, you never know).

[mercedes7]

Two of the safer banks are:

(Agree) Union Bank of California
US Bank

Might want to look at their stock price(s) to see what Wallstreet thinks of them.

UB Union Bank is trading close to it’s high – that is a clue. Beyond that, they are a very conservative bank. Their CD rates stink, but frankly in this environment, I’m not chasing high CD rates anymore….can make more money in the stock market anyway (on the short side).

The fact that Wamu was/is offering a 5% CD tells me just how desperate they are – I would stay away! I don’t think they will survive much longer. I actually closed my last account with them last month. Had less than 100K but just didn’t want the hassle when they shut their doors (just my opinion of course).

Bank of America is also offering a decent short term rate and they will be one of the few that will survive, but not without more pain to come.
Wells Fargo is also supposed to be safe (but in this environment, you never know).

[mercedes7]

Two of the safer banks are:

(Agree) Union Bank of California
US Bank

Might want to look at their stock price(s) to see what Wallstreet thinks of them.

UB Union Bank is trading close to it’s high – that is a clue. Beyond that, they are a very conservative bank. Their CD rates stink, but frankly in this environment, I’m not chasing high CD rates anymore….can make more money in the stock market anyway (on the short side).

The fact that Wamu was/is offering a 5% CD tells me just how desperate they are – I would stay away! I don’t think they will survive much longer. I actually closed my last account with them last month. Had less than 100K but just didn’t want the hassle when they shut their doors (just my opinion of course).

Bank of America is also offering a decent short term rate and they will be one of the few that will survive, but not without more pain to come.
Wells Fargo is also supposed to be safe (but in this environment, you never know).

[mercedes7]

Two of the safer banks are:

(Agree) Union Bank of California
US Bank

Might want to look at their stock price(s) to see what Wallstreet thinks of them.

UB Union Bank is trading close to it’s high – that is a clue. Beyond that, they are a very conservative bank. Their CD rates stink, but frankly in this environment, I’m not chasing high CD rates anymore….can make more money in the stock market anyway (on the short side).

The fact that Wamu was/is offering a 5% CD tells me just how desperate they are – I would stay away! I don’t think they will survive much longer. I actually closed my last account with them last month. Had less than 100K but just didn’t want the hassle when they shut their doors (just my opinion of course).

Bank of America is also offering a decent short term rate and they will be one of the few that will survive, but not without more pain to come.
Wells Fargo is also supposed to be safe (but in this environment, you never know).

[mercedes7]

Two of the safer banks are:

(Agree) Union Bank of California
US Bank

Might want to look at their stock price(s) to see what Wallstreet thinks of them.

UB Union Bank is trading close to it’s high – that is a clue. Beyond that, they are a very conservative bank. Their CD rates stink, but frankly in this environment, I’m not chasing high CD rates anymore….can make more money in the stock market anyway (on the short side).

The fact that Wamu was/is offering a 5% CD tells me just how desperate they are – I would stay away! I don’t think they will survive much longer. I actually closed my last account with them last month. Had less than 100K but just didn’t want the hassle when they shut their doors (just my opinion of course).

Bank of America is also offering a decent short term rate and they will be one of the few that will survive, but not without more pain to come.
Wells Fargo is also supposed to be safe (but in this environment, you never know).

[CAwireman]

FWIW

Mercedes7,

I posted this on another bank thread.

Cramer said that Wells Fargo (WFC), US Bancorp (USB), Bank of America (BAC) and JP Morgan Chase (JPM) all reported quarterly results that showed they will survive.

How did you come up with Union Bank of California and US Bank being solid? (Are US Bancorp and US Bank one in the same?)

Thoughts on Wells, BofA, and JP Morgan Chase?

Thanks all

[CAwireman]

FWIW

Mercedes7,

I posted this on another bank thread.

Cramer said that Wells Fargo (WFC), US Bancorp (USB), Bank of America (BAC) and JP Morgan Chase (JPM) all reported quarterly results that showed they will survive.

How did you come up with Union Bank of California and US Bank being solid? (Are US Bancorp and US Bank one in the same?)

Thoughts on Wells, BofA, and JP Morgan Chase?

Thanks all

[CAwireman]

FWIW

Mercedes7,

I posted this on another bank thread.

Cramer said that Wells Fargo (WFC), US Bancorp (USB), Bank of America (BAC) and JP Morgan Chase (JPM) all reported quarterly results that showed they will survive.

How did you come up with Union Bank of California and US Bank being solid? (Are US Bancorp and US Bank one in the same?)

Thoughts on Wells, BofA, and JP Morgan Chase?

Thanks all

[CAwireman]

FWIW

Mercedes7,

I posted this on another bank thread.

Cramer said that Wells Fargo (WFC), US Bancorp (USB), Bank of America (BAC) and JP Morgan Chase (JPM) all reported quarterly results that showed they will survive.

How did you come up with Union Bank of California and US Bank being solid? (Are US Bancorp and US Bank one in the same?)

Thoughts on Wells, BofA, and JP Morgan Chase?

Thanks all

[Author]

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