Wachovia???

[Kurt]

Best big banks out there are JPM and Wells Fargo--They have much less subprime exposure and the common stock is quite cheap with a good dividend.

I bought Bank America in March for the 6.7% dividend--whoops! It has lost value and the dividend is now 10%--but they will not cut it if the stock keeps rising.

A lot of the banking crisis has been overblown of late. I would not go shopping yet in the financials to pick up "bargains" as we may have more down-side before the dust settles. Some folks are nibbling at them.

Wachovia was known to have a bad business model. If too many people do what the poster did--pull out--it will not bode well. If I had the stock I would hang in there. CD should be safe. But advice on FDIC limits given here is sound.

Advice from Texas is always welcome--but you guys are fixated on commodities like oil and gas and always suspicious of paper securities.

Alot is dependent on oil coming down from its speculative highs. The last two days have been encouraging to the financials, but don't be surprised if there is more downside. We have got to strengthen the dollar--all that "fiat" money, ya know.

I think everybody needs to relax a bit. Now is the time to go out to the Hamptons--in my case--Grand Lake in Oklahoma--and get some water and sun. The Texas boys could go down to Galveston--or my absolute favorite place--Toldeo Bend Lake. I have some land there and a double-wide trailer so if the worst case scenario does develop--you will find me holed up there.

God Bless and relax a bit. The world as we know it is not coming to an end--yet.