The Banks-Not Gooc

www.nytimes.com/2008/06/19/business/19bank.html?em&ex=1214020800&en=f945783c14c4a6ef&ei=5087%0A

 

Looks like a good time buy if you aren't looking to make a quick buck.

 

Here are some more trends:



And here is a fancy pie chart:

 

Wow! Thanks Tharan for adding nothing of value to this thread.

I still don't know that Regionals have bottomed out yet so I don't know if it is a good time to buy yet. SunTrust and BB&T are near, or at, 52 week lows. Deutsche reported yesterday that they expect SunTrust to cut their dividend in half. On top of that, Goldman is saying that it will be mid-2009 before the Real Estate Market bottoms out (and I happen to think that might be conservative as there are some reports of 3-4 years of inventory building up right now in some markets).

BB&T did say yesterday that they remain in a strong capital position so there may be some hope but I believe BB&T ran itself better than most ever other regional. I don't think they necessarily originated any Subprime loans and they weren't a major player in the CDO market. They did buy a Subprime Auto Lender a few years back so that will hit them but compared to other banks, that's not so bad.

 

BB&T's stock did a roller coaster ride yesterday when some analyst suggested they may cut the dividend and then BB&T released a statement saying they wouldn't. Who is right? I guess time will tell.

 

I can tell my bank is in trouble because when I go to the drive up window they always give my dog a couple of good size dog bones. Last time they gave her one little mini bone.

 

Chase coming after WB...could be fun. Might suck for Charlotte and my work, but I'm glad I bought a ton of WB this week!

 

The amount you make on that would pale compared to your lost future revenues, the sinking value of your home, etc.

 

Revenues not impacted, quality of life (maybe having to travel again) might be.
Value of home is a concern.
As soon as it was announced, I'd move. We likely have to move anyway.

Regardless, I'm the man. Sold that bitch yesterday at the peak - no news to explain a $1 spike caused me to dump at 18.7, made 11% in 1 week.

 

Hope not but would suck for Wachovia depositors as savings rates would drop. That happened to us when BofA went after La Salle. Got to get under that 10% unless something changes.