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Old 09-26-2008, 06:42 AM
 
Location: State of Being
35,885 posts, read 67,009,663 times
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The media is fond of referring to CLT as the nation's second largest banking center in America.

So is JPMorgan Chase's acquisition of WaMu gonna make them the largest bank in America? Or does BofA have more holdings?

And Wachovia . . . looks like Morgan Stanley backed out of talks once the federal "bail out" was announced.
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Old 09-26-2008, 06:49 AM
 
Location: Denver Colorado
385 posts, read 1,445,668 times
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It will be interesting to see how Charlotte weathers the banking storm.
Everyone has to use their own best judgement in the financial climate we're currently in, but, I'm taking extreme precautions and putting my money where I know it's safe.
Now, if only I could find some gasoline.....
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Old 09-26-2008, 06:55 AM
 
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As we all know, Wachovia's biggest mistake was it's acquisition of Golden West. I predict that since the gov will be bailing out the banks as well as saving the crap mortgages out there, that Wachovia will end up weathering this fairly well. Truly, I would be more concerned about BOA's acquiring Countrywide- I dont see that being anything but a lead balloon, d/t them being the largest seller of subprimes.
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Old 09-26-2008, 08:52 AM
 
Location: Long Island, NY
302 posts, read 863,747 times
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BoA is still larger then JP Morgan by far.
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Old 09-26-2008, 11:26 AM
 
Location: Indian Trail, NC
314 posts, read 1,025,053 times
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Quote:
Originally Posted by MaddieClaire View Post
It will be interesting to see how Charlotte weathers the banking storm.
Everyone has to use their own best judgement in the financial climate we're currently in, but, I'm taking extreme precautions and putting my money where I know it's safe.
Now, if only I could find some gasoline.....
Yeah, but isn't stuffing gasoline in your mattress going to be kind of messy and dangerous?
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Old 09-26-2008, 11:47 AM
 
Location: Huntersville
1,852 posts, read 4,666,295 times
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It's stilla run between Citi and BofA. BofA should take over the lead in most areas with Merrill, but in thep ast it's been all about you look at in size. Market Cap, was always Citi, Deposits was BofA, Revenue was back and forth, Profit is now all BofA. This is terms of Banks, not Financial Insitituins, which used to include AIG.

WAMU was way under margined and having issues, JPmorgan picked up quite a few Branches and will be abigger player on the Banking Side vs. Investments and 401K.
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Old 09-26-2008, 03:40 PM
 
23 posts, read 42,779 times
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If the bailout occurs this weekend, they'll be back on track. Hopefully.
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Old 09-26-2008, 03:52 PM
 
1,588 posts, read 3,552,828 times
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Quote:
Originally Posted by MDtech123 View Post
BoA is still larger then JP Morgan by far.
I don't know about that considering the new Chase will have about $900 billion in deposits. They will have the second-largest concentration of deposits in the United States, with a market share of 10.5 percent, just behind Bank of America, with 10.8 percent.
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Old 09-26-2008, 04:02 PM
 
Location: Denver Colorado
385 posts, read 1,445,668 times
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Quote:
Originally Posted by jstevens44 View Post
Yeah, but isn't stuffing gasoline in your mattress going to be kind of messy and dangerous?
That made me LOLOLOLOL!!!
Thanks for the giggle on this depressing day.
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Old 09-26-2008, 04:04 PM
 
Location: Denver Colorado
385 posts, read 1,445,668 times
Reputation: 127
I also heard that Wachovia is in talks with Wells Fargo.
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