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
9.15.2008
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
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.
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.