Bank Shock!
Comment: I doubt anyone under the age of 75 has every seen something like this!
WFC, USB, and BBT are doing OK. But look at WB and LEH
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This is the Blog of a guy who retired from a major financial institution in technology. I chose the title "Cold Fusion Guy" because I love programming in Cold Fusion
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It seems like the big investors know exactly which banks did, and did not, participate in the former bull market in risky loans and securities. I am personally surprised to see Merill Lynch and Lehmann are among those who chose foolishly in this; as you note, you would think that firms older than the Depression would remember it and act accordingly.
ReplyDeleteI guess I'm wrong.