Bank watch megathread

reply to post by St Udio


Goldman Sachs... the only investment bank to escape relatively unscathed.

I think the future of banking is with the big conglomerates:

HSBC, BoA, SWFs (sovereign wealth funds), Goldman Sachs etc.

On dodgy ground are Citigroup and Wachovia.

On their deathbed are UBS and AIG. These two (and they are giants) will be the next to collapse.

Nice positive spin from NY Times is now leading the headlines on google:

Change Arrives, With a Sense That Wall St.’s Boom Times Are Over



Ah, change we can believe in.

I don't know if this is quite what you're looking for, but a friend of mine living in "suburban" Washington DC just told me that people are "running around for their money" already, her parents soon to be included, at about 9pm PST today. She also said "alarm is going up pretty high" already and that her dad is already maybe facing a layoff from the firm he's worked at for 24 years.

So it begins?

There are signs of serious jitters concerning the liquidity of UK banks. The biggest UK mortgage lender has so far fallen 34% in one day:

Shares in UK bank HBOS are leading a steep decline in UK stocks as turmoil on financial markets intensifies.

Investors are concerned that HBOS is too dependent on money markets to fund its lending as the cost of borrowing shoots up.

Shares in HBOS were down 34%, or 79.5 pence, at 153p after an 18% fall a day earlier. Many other bank shares have also been hit.

In a statement, HBOS said it had a "strong capital base".

Source: news.bbc.co.uk...

Currently being discussed in breaking news: www.abovetopsecret.com...

I can hardly believe the pace at which things are happening.







[edit on 16/9/08 by pause4thought]

Uh Oh! WAMU back on the radar screen!

Feds Seeking Buyer for WAMU

The fate of Washington Mutual remained in question yesterday as federal regulators recently called a number of banks asking if they would consider buying the nation's largest savings and loan should it eventually falter, sources told The Post.

In recent days, federal banking regulators have reached out to Wells Fargo, JPMorgan Chase, HSBC and several other financial institutions to gauge their interest in a possible acquisition of WaMu, but no merger discussions are currently under way between the Seattle-based bank and anyone else, sources said.

Not exactly a good sign for them.

Here is a bit more info about WaMu - they look to be the next:

The obstacle, however, is that “no one knows what’s in their books,” the person said, speaking on condition of anonymity because of the sensitivity of the matter. There could be, he said, “a minimum amount of value there.”

Regulators gauge bank interest in WaMu

Looks like Morgan Stanley and Goldman Sachs are next to die

Don't be surpised one of these firms will turn into an Asian owned business!

reply to post by krayziehotsauce


I swear Asia will own everything.

We are seeing the Rise of the East.

I am currently learning Mandarin.

Friday 9/19 Winner is......

Not a big Bank, but they are still taking.

Ameribank, Inc., Northfork, WV

Quite frankly I'm surprised they are still taking anyone, with the current Bill being discussed. Why not just wait for them to take advantage of the Financial Welfare coming?

[edit on 9/20/2008 by Relentless]

Over another weekend....another major event took place.

both Goldman Sacs and Morgan Stanley... two major
Investment Banks
went directly to the Fed. and were granted an immediate change of status into Commercial Bank holding companies.


all the MSM talking heads are scratching their heads & wondering just why both Goldman and Morgan financial houses which were 2 of the larger movers-&-shakers, & high flyers in the global financial markets... have suddenly gone Austere.



here's my take on the WHY...

the Fed & Treasury are in the beginning stages of pushing through the proposed $700Billlion mortgage bailout.
It would be a gigantic hinderance to the Fed & Treasury
If there were huge, profitable, risk taking 'Investment Banks' on the list of entities that are standing in line for bailout money.

Goldman and Morgan, are effectively shedding the 'Stigma' of being a
Fat Cat, Elite, masters-of-the-universe, Bonus addicted, Investment Bank
and has over the weekend assumed the status of a regular blue collar banking operation.

Now, how much easier will the Fed. & Treasury task be in rallying Congressional support for the proposed $700Billion mortgage-based-asset Bailout ?!
I'd say the Fed/Treasury, with the weekend tactic of making Goldman & Morgan regular banks.... have just assured passage of the proposed bailout.



~warning~ this ploy is just a wolf in sheeps clothing, because just as quick as all 'investment banks' have disappeared from the roll of 'needy' bailout recipients---the two newest bank holding companies can request a return to an 'Investment Bank' status --of course after they have both unloaded all their toxic mortgage-paper and related derivitives
to the Gov't at an optimum price!

The game is afoot imho, but hey, i'm not a wall street strategist.


thanks