Comments on: Poll: Which Bank Will Go Bust Next?

By: Jeanie Richardson

Jeanie Richardson — Fri, 26 Sep 2008 11:26:47 +0000

Hey Wes…any comments as of 9/26/08 other than opps? Maybe we can’t listen to the right wing whackos for the truth huh? I’ve never seen a cycle like this!

By: jojo

jojo — Tue, 16 Sep 2008 05:06:39 +0000

Hi tim how about a link to that graph…

By: TJ

TJ — Tue, 02 Sep 2008 00:42:29 +0000

God bless Bank s of america

By: Sammy

Sammy — Sun, 03 Aug 2008 06:35:59 +0000

I’m thinking my bank is pretty safe…I just installed a new lock on the one under my matress…

On a more serious note — I see a lot of votes based solely on lending issues, but what about the banks facing two and three class action lawsuits? I’m thinking the formula should be: subprime lending + class actions pending = TANK.

By: Tim

Tim — Thu, 31 Jul 2008 23:22:29 +0000

I voted WaMU, just because of a very scary graphic I saw, that showed each banks involvement in the mortgage thing. Wamu had it’s fingers deep in the pie, which may come to haunt them.

By: Ugly American

Ugly American — Sun, 27 Jul 2008 07:40:18 +0000

The old guy in charge of Wells Fargo talked about his ‘no junk’ rule back when the market was still booming and everyone was making fun of him for being old fashioned. It reminds me of when people were making fun of Warren Buffet for not buying any tech stocks just before the .com bubble burst. Experience wins again.

Just for the record, the last big wave of S&L failures was under Bush’s dad and a couple of the guys running for president were involved in the junk biz. Do your research.

By: sherrie e

sherrie e — Fri, 25 Jul 2008 10:06:21 +0000

ok i have a question for anyone, where would you say would be the best place to put about $5000.00 just to start my interest bearing savings. i am new to the world of retirement savings . i would appriciate any info. you may have

By: Hana Hawaii

Hana Hawaii — Thu, 24 Jul 2008 02:57:21 +0000

My guess is Sovereign Bank. They had a decent promotion but don’t pay after 90days. They don’t even answer to my question. Worst customer service than Bank of America, which means, pretty bad.

By: smc341

smc341 — Mon, 21 Jul 2008 09:22:27 +0000

I got my mortgage through Washington Mutual 5 years ago, I had excellent credit and received a fixed rate mortgage @5% for 15 years. I also have some CD investments with them. I have not had any problems but I will be keeping an eye on this bank. I am not worried yet.

By: The Finance Section

The Finance Section — Sun, 20 Jul 2008 09:34:43 +0000

I don’t think it will be HSBC as they have a strong balance sheet. As for other bank failures, I think they will be fewer in number as the sector consolidates, with weaker, smaller banks being taken over.

By: Jimmy

Jimmy — Sat, 19 Jul 2008 06:34:20 +0000

American Express is going to drop an earnings bomb on monday that is going to pull Mastercard and Visa down the drain with them. I work in NYC and the office mood was horrible. They are announcing a huge increase in defaults on bad business credit extensions from the mortgage fallout. Execs were in meetings all day. The mood is horrible at work. A huge reorganization and definite displacement of employees is expected in August as well.

By: Wes

Wes — Sat, 19 Jul 2008 01:49:45 +0000

Chill out. Stupid questions like this and the liberal media will scare everyone. Experts say things will get better…. None of the large banks are in trouble. You can’t have a sagging economy and record oil prices and think everyone is going to have record earnings. Cycles happen.

By: William K.

William K. — Sat, 19 Jul 2008 01:33:56 +0000

If any of the US banks had to do a legit balance sheet and didn’t have untold billions of short term loans from the federal reserve, there would have been hundreds of bank failures already. IndyMac wasn’t even on the FDIC troubled list when it failed. Anyone who thinks there money is safe, is probably wrong. To say that Wells Fargo earnings were optimistic would be an understatement, and how do you think B of A feels after spending a total of 7 billion for a company that has default rates approaching 20%. Don’t mean to spoil the party, but if this solvency crisis has taught us anything it is that banks, the govenment, and the media are all in on the continual lies. The depositors will always be the last to know.

By: Craig

Craig — Fri, 18 Jul 2008 20:17:17 +0000

I am not concerned about Wachovia. They have repeatedly noted they are not hurting for deposits; Plus they have the brokerage division and do clearing for other brokerages. Recently they merged with A.G. Edwards and received additional customer assets. Cap West was a mistake, but it is just a fraction of thier business.

By: James - BankAround

James - BankAround — Fri, 18 Jul 2008 18:15:06 +0000

Let’s not try to cause another bank run. Downey definitely seems like they are in trouble though. Just make sure not to put over 100K in any of these banks to be safe.

By: Bibi

Bibi — Fri, 18 Jul 2008 15:33:42 +0000

Thank you, Douglas. Succint and to the point.

I have a question for those of you who suggest Wachovia, and even WAMU: Don’t you think that because they are large banks with diversified investments that they are safer, even if a chunk was in the sub-prime business? Any edification here is appreciated.

By: Douglas

Douglas — Fri, 18 Jul 2008 02:38:38 +0000

Get your deposits in order (within FDIC limits) and DO NOT abandon your bank !!!!!!!!

By: jojo

jojo — Fri, 18 Jul 2008 01:12:05 +0000

INDYMAC BK FSB CA E-
INTEGRITY BK GA E-
FEDERAL TRUST BANK FL E-
MAGNET BANK UT E-
SOUTHERN COMMUNITY BK GA E-
FREEDOM BK FL E-
AMERICAN STERLING BK MO E-
FIRST PRIORITY BK FL E-
FIRST SUBURBAN NB IL E-
FIRST PERSONAL BK IL E-
ISN BK NJ E-
EBANK GA E-
MAIN ST BK MI E-
PENNSYLVANIA BUSINESS BK PA E-
STOCKMANS BANK OK E-
RIVERGREEN BK ME E-
AMERIBANK INC WV E-
HORIZON BANK IA E-
PLATINUM COMMUNITY BK IL E-
FIRST TUSKEGEE BK AL E-

By: nugien

nugien — Fri, 18 Jul 2008 01:00:45 +0000

Watch out with Wachovia and Downey Savings. They have a rather big chunk in Mortgage subprime lending. I should say Wachovia or Downey Savings might be next… Wamu even though there is lot of rumor about them (besides their tumbling stock value) but they are too big to fall cause they are diversified. Have worked for Wamu when they restructured last year. They moved their data center to San Antonio, TX and Cust Svc Center to other locations. Wells Fargo is too conservative in their managment and budget portfolio and have extra precaution. Dont think Wells Fargo will fall.

By: J. Wu

J. Wu — Thu, 17 Jul 2008 22:04:00 +0000

Wells Fargo actually announced stellar results yesterday, sending their stock soaring.