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10-11 figure bank may go under in the next few

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Feb 21, 2008 12:30 am
EDJ4now:

[quote=newnew]on 10-10-2002, an article in USA Today quoted experts on where the Dow was headed–it was at 7286. Bill Gross said 5000. Others said lower, predicting mass pessimism and even deflation/depression. In fact, it had already bottomed out, and would have been the perfect day to buy the Dow. However: “There is always a reason not to invest”. 

  The day after the very bottom, the headline of the USA today money section was "No bottom in sight".  If you had looked at the bottom left corner of that very page, you would have seen the bottom.     [/quote]
I actually still have that days paper saved in my office, me and another broker said to ourselves this is a clear sign we have hit bottom, turned out we were right that time lol
Feb 28, 2008 11:37 pm

FMT??  $8 billion bank.

  http://www.reuters.com/article/marketsNews/idUKN2862877620080228?rpc=44   Is this one of the places FDIC is camped out tonight?
Feb 29, 2008 2:35 am

[quote=MC Lovin]educated guess: a 5-20 billion dollar bank goes under in the next 2 weeks.

starting a domino effect. Will FDIC be able to handle this?[/quote]   You pegged it.   Did you talk to my brother inlaw?? 1, 10, 50 banks, FDIC has it handled.  A 100, 300, 1000..it will be questionable. The fear of FDIC is a depositors bank run...not enough paper money to handle that.
Feb 29, 2008 8:20 pm

Excellent call MC!!  Can you enlighten us with more news?