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Which is the next big financial institution to go?

O

OfficeLinebacker

Senior member
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)
 
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.
 
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.
Click to expand...

Pulling money out of her federally insured savings account?

Yes, that's rational.
 
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.
Click to expand...

Pulling money out of her federally insured savings account?

Yes, that's rational.
Click to expand...

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

Pulling money out of her federally insured savings account?

Yes, that's rational.
Click to expand...

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

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.
 
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.
Click to expand...

Pulling money out of her federally insured savings account?

Yes, that's rational.
Click to expand...

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

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.
Click to expand...

Where do you bank at, if I might ask?
 
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.
Click to expand...

Pulling money out of her federally insured savings account?

Yes, that's rational.
Click to expand...

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

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.
Click to expand...

Where do you bank at, if I might ask?
Click to expand...

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

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

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.
Click to expand...

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

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

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.
Click to expand...

Lehman was the first one taken bro! Pick again!
 
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?
Click to expand...

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.
Click to expand...

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

wow, you really don't know what you're talking about do you. :Q
 
Originally posted by: miketheidiot
i'm going to go with the disaster crowd and say citi.
Click to expand...

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.
 
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.

 
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?
Click to expand...

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.
Click to expand...

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

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

Does Warren Buffet know what he is talking about? Text
 
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.
Click to expand...

Bro LEH's taken!
 
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