Banks,What do you think?

[bighit8]

http://finance.yahoo.com/banking-bud...alysts-Say-Mor
For me this is good as banks try to sell all their repos and get rid of old inventory.Last week a Chevrolet dealership in Vegas offed 80 Escalades to the auction,all 2008 models.

[dssgaffler]

Locally, you could soon see Downey Savings follow IndyMac. They've been trying to work out a deal to get bought out for at least 6 months.

Pomona First Federal got bailed out by Cal National Bank last month or they were headed for the same fate.

Wamu is in big trouble but they will likely merge with a huge bank soon.

If you have more than $100k in CDs or money markets at one bank, pay the early withdrawal penalty and diversify with different banks

[Rockinthecasbah]

o come on you mean wamu isnt going to go under and take my CC debt with them, damn it !!!

[92se-r]

I just bought aug. 2008 3 dollar call options on WM today. We'll see how it plays out. Looking to make a quick buck.

[boludo]

We're going to see more drops in value of bank stocks. So dont buy any if thats what you're thinking.

Here are some ticker symbols to look up if you are thinking of buying into bank stocks.

BKPIX
PJB
KBE
UYG
SKF
XLF
DXDBX

From the info I'm getting the regional banks seem to be holding tight right now and will most likely get thru this. The smaller banks, if holding the bag on mortgages, are going to have a bad time.

It'll soon be a great time to buy financials.

[surlygal]

Our house (turned into rental property) in MN has it's mortgage with Indymac

[2wheel_lee]

Similar to what I heard on the news, there was a long line at the Indymac near my home this morning.

[fortytwo]

Originally Posted by Rockinthecasbah

o come on you mean wamu isnt going to go under and take my CC debt with them, damn it !!!

Don't we all wish our debt would go away if our bank went under? No matter what happens, someone will end up owning you debt.

If you have a $200k mortgage and $200k in deposits in the same bank when it goes under, Some company will buy your mortgage and the FDIC will only cover $100k of deposits. Your out $100k.

Of course this is purely theoretical. Do any of us have more than $100k to have sitting in a bank?

[dstepper]

Originally Posted by fortytwo

Do any of us have more than $100k to have sitting in a bank?

Many do, dumb if it is not spread around.

[fortytwo]

Originally Posted by dstepper

Many do, dumb if it is not spread around.

I would have thought we put all our assets into our bikes.

[new2mtb]

i just hope they have auctions on 2008 bikes as well

Originally Posted by bighit8

For me this is good as banks try to sell all their repos and get rid of old inventory.Last week a Chevrolet dealership in Vegas offed 80 Escalades to the auction,all 2008 models.

[dstepper]

Originally Posted by new2mtb

i just hope they have auctions on 2008 bikes as well

As close as you are going to come to a bike auction.

Dean

[Kid A]

Originally Posted by 92se-r

I just bought aug. 2008 3 dollar call options on WM today. We'll see how it plays out. Looking to make a quick buck.

call options are right to buy, right? so you are expecting price to go up for wamu?

[92se-r]

held the call option for less than a day. sold it for a 20% profit because of the jump in WM today.

Originally Posted by Kid A

call options are right to buy, right? so you are expecting price to go up for wamu?