Which is the next big financial institution to go?

[OfficeLinebacker]

With the collapse of Bear Stearns, it's almost inevitable that there will be at least one more midsize financial institution (and by midsize, I mean >$100 billion in assets) will bite the dust.

Now, these are already in the "too big to fail" category, so by bite the dust I mean "get bought by another company at pennies on the dollar" or "gone into receivership" or any assortment of terms that are the boxing equivalent of a loss by TKO.

No financial company is too big, but we'll have to put the lower limit somewhere, so what do we say >100B in assets as of their most recent 8-K or whatever, not to exceed one year ago (so like Fannie & Freddie are disqualified).

So I'm still doing some research, but I have a few I am looking into. I think I can imagine one of the first ones people will take.

Lots and lots still available! Don't make me list them out, HSBC, Barclays, Deutche Bank!

-----------------------the picks-------------------
Vic: Lehman (LEH)
Naustica: National City Corporation (NCC)
OfficeLinebacker: Morgan Stanley (MS) {CFC Eligibility Questioned}
MikeTheIdiot: Citigroup (C)
GrGr: JP Morgan Chase (JPM)
nullzero: WaMu (WM)

 

[CalvinHobbes]

planning on shorting some stock?

 

[Vic]

Lehman

 

[ponyo]

Originally posted by: Vic
Lehman

I'm buying puts.

 

[ponyo]

Another will be National City Corporation (NCC).

 

[OfficeLinebacker]

OK, one company per person. I take Countrywide. I'll update the OP to reflect.

Calvin, no, not at present.

 

[GroundMeat]

Countrywide is being bought out by BAC for $4 B, old news... I thought you were looking for predictions not history?

 

[Dissipate]

My dad is buying gold and silver tomorrow morning. I also convinced my girlfriend to pull her money out of her savings at Wells Fargo.

 

[beer]

Originally posted by: Dissipate
My dad is buying gold and silver tomorrow morning. I also convinced my girlfriend to pull her money out of her savings at Wells Fargo.

Pulling money out of her federally insured savings account?

Yes, that's rational.

 

[Dissipate]

Originally posted by: beer

Originally posted by: Dissipate
My dad is buying gold and silver tomorrow morning. I also convinced my girlfriend to pull her money out of her savings at Wells Fargo.

Pulling money out of her federally insured savings account?

Yes, that's rational.

It is only irrational to someone who knows little about the banking system and that the FDIC is a scam.

 

[ponyo]

MBIA. AMBAC. Both toast.

 

[OfficeLinebacker]

Originally posted by: GroundMeat
Countrywide is being bought out by BAC for $4 B, old news... I thought you were looking for predictions not history?

I thought it was just a possibility, not a hard fact?

 

[yllus]

Originally posted by: Dissipate

Originally posted by: beer

Originally posted by: Dissipate
My dad is buying gold and silver tomorrow morning. I also convinced my girlfriend to pull her money out of her savings at Wells Fargo.

Pulling money out of her federally insured savings account?

Yes, that's rational.

It is only irrational to someone who knows little about the banking system and that the FDIC is a scam.

lol

Sometimes I read P&N and wonder with the crap advice and statements many of you spit out if any of you manage your assets worth a damn. I guess the answer is you don't.

 

[ranmaniac]

I wonder how many stories Legend Killer will fall when he jumps off a window ledge?

 

[Dissipate]

Originally posted by: yllus

Originally posted by: Dissipate

Originally posted by: beer

Originally posted by: Dissipate
My dad is buying gold and silver tomorrow morning. I also convinced my girlfriend to pull her money out of her savings at Wells Fargo.

Pulling money out of her federally insured savings account?

Yes, that's rational.

It is only irrational to someone who knows little about the banking system and that the FDIC is a scam.

lol

Sometimes I read P&N and wonder with the crap advice and statements many of you spit out if any of you manage your assets worth a damn. I guess the answer is you don't.

Where do you bank at, if I might ask?

 

[yllus]

Originally posted by: Dissipate

Originally posted by: yllus

Originally posted by: Dissipate

Originally posted by: beer

Originally posted by: Dissipate
My dad is buying gold and silver tomorrow morning. I also convinced my girlfriend to pull her money out of her savings at Wells Fargo.

Pulling money out of her federally insured savings account?

Yes, that's rational.

It is only irrational to someone who knows little about the banking system and that the FDIC is a scam.

lol

Sometimes I read P&N and wonder with the crap advice and statements many of you spit out if any of you manage your assets worth a damn. I guess the answer is you don't.

Where do you bank at, if I might ask?

Scotiabank

More to the point, I'm savvy enough to know that if the situation is bad enough that FDIC gets invoked and isn't enough to save us, the world is screwed anyways. Doom and gloom away though.

 

[LegendKiller]

Originally posted by: ranmaniac
I wonder how many stories Legend Killer will fall when he jumps off a window ledge?

Thanks for the good wishes. My bank is the 7th largest in the world and has taken less than 500MM in write-downs. I am reasonably safe right now.

LEH myself.

 

[Dissipate]

Originally posted by: LegendKiller

Originally posted by: ranmaniac
I wonder how many stories Legend Killer will fall when he jumps off a window ledge?

Thanks for the good wishes. My bank is the 7th largest in the world and has taken less than 500MM in write-downs. I am reasonably safe right now.

LEH myself.

Nothing could be further from the truth. What are you going to do when the $515 trillion derivatives market goes bust?

 

[OfficeLinebacker]

Originally posted by: LegendKiller

Originally posted by: ranmaniac
I wonder how many stories Legend Killer will fall when he jumps off a window ledge?

Thanks for the good wishes. My bank is the 7th largest in the world and has taken less than 500MM in write-downs. I am reasonably safe right now.

LEH myself.

Lehman was the first one taken bro! Pick again!

 

[miketheidiot]

Originally posted by: Dissipate

Originally posted by: LegendKiller

Originally posted by: ranmaniac
I wonder how many stories Legend Killer will fall when he jumps off a window ledge?

Thanks for the good wishes. My bank is the 7th largest in the world and has taken less than 500MM in write-downs. I am reasonably safe right now.

LEH myself.

Nothing could be further from the truth. What are you going to do when the $515 trillion derivatives market goes bust?

wow, you really don't know what you're talking about do you. :Q

 

[miketheidiot]

i'm going to go with the disaster crowd and say citi.

 

[OfficeLinebacker]

Originally posted by: miketheidiot
i'm going to go with the disaster crowd and say citi.

Ooh, bold move, but not without it's merits.

Also remember, this is about the NEXT guy to go. Not the one that results in the most spectacular meltdown.

But still, decent choice. It's up.

 

[Slew Foot]

PUTting my money where my mouth is, LEH (to go under), BAC, WM to take a big hit but remain afloat.


I nailed CFC last year, almost had BSC as well, but I figured the govt would try and bail them out before the sunk.

 

[Dissipate]

Originally posted by: miketheidiot

Originally posted by: Dissipate

Originally posted by: LegendKiller

Originally posted by: ranmaniac
I wonder how many stories Legend Killer will fall when he jumps off a window ledge?

Thanks for the good wishes. My bank is the 7th largest in the world and has taken less than 500MM in write-downs. I am reasonably safe right now.

LEH myself.

Nothing could be further from the truth. What are you going to do when the $515 trillion derivatives market goes bust?

wow, you really don't know what you're talking about do you. :Q

Does Warren Buffet know what he is talking about? Text

 

[OfficeLinebacker]

Originally posted by: Slew Foot
PUTting my money where my mouth is, LEH (to go under), BAC, WM to take a big hit but remain afloat.


I nailed CFC last year, almost had BSC as well, but I figured the govt would try and bail them out before the sunk.

Bro LEH's taken!