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WaMu on the auction block, Morgan Stanley considering merger with Wachovia... I actually heard the word "Depression" on the news yesterday.


( 3 comments — Leave a comment )
Sep. 17th, 2008 10:01 pm (UTC)
Not the tropical type of depression, I presume.
Sep. 17th, 2008 10:01 pm (UTC)
I think once we get past Wachovia and WaMu, and perhaps Downey, things should start to stabilize. At least I haven't heard any other large screams on the horizon.. unless mutual fund families start to fall.
Sep. 17th, 2008 11:06 pm (UTC)
I think BofA has bought itself a house of cards with...who was it again? I really think BofA will be in serious trouble in the next month. I saw that foreclosures are up 45% in SoCal with housing prices down 34%. Any bank that has lots tied up in SoCal housing will be in serious trouble very soon. WaMu and Downey are the tips of the icebergs.

And Goldman Sachs, which is supposedly helping to prop up AIG, had their shares massacred today.

I think it's time to move funds either to credit unions or to banks owned by European (Bank of the West) or Japanese (UBOC).
( 3 comments — Leave a comment )