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Old 09-29-2008, 02:56 PM
 
Location: Huntersville
1,852 posts, read 4,674,877 times
Reputation: 525

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Quote:
Originally Posted by BlackOut View Post
According to Jim Cramer at MSNBC, if there is no bailout, then there will be 4 superbanks left in the USA. Those would be:

* US Bancorp
* Wells Fargo
* JP Morgan
* PNC
This doesn't even make sense.

US Bancorp is about the 6th largest Bank and doing well, JP Morgan is strong, Wells Fargo is decent sized, PNC is quite small, I think less thn $10Billion in annual revenue. Citi and Bank of America are two very strong players, so I agree there will be less Banks, but to leave out the two biggest players is a bit silly and makes everything else he says silly. Also for this to even happen the government would need to change it's laws of not allowing 1 Bank to hold more than 10% of all Banking deposits. Not saying it won't happen, but it would be easy, and that right there tells you that not even 10 super Banks yet. Plus Credit unions!.
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Old 09-29-2008, 03:02 PM
 
1,588 posts, read 3,563,142 times
Reputation: 889
Quote:
Originally Posted by Whytewulf View Post
This doesn't even make sense.

US Bancorp is about the 6th largest Bank and doing well, JP Morgan is strong, Wells Fargo is decent sized, PNC is quite small, I think less thn $10Billion in annual revenue. Citi and Bank of America are two very strong players, so I agree there will be less Banks, but to leave out the two biggest players is a bit silly and makes everything else he says silly. Also for this to even happen the government would need to change it's laws of not allowing 1 Bank to hold more than 10% of all Banking deposits. Not saying it won't happen, but it would be easy, and that right there tells you that not even 10 super Banks yet. Plus Credit unions!.
I never said I agree with him. Hell, who knows what is going to happen next.

Here is Cramer's piece: Jim Cramer's 'Stop Trading!': Inaction Creating Super Banks - TheStreet.com
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Old 09-29-2008, 03:02 PM
 
Location: Huntersville
1,852 posts, read 4,674,877 times
Reputation: 525
Quote:
Originally Posted by SunnieD27 View Post
Citigroup is mostlikely taking their acquired wachovia and hitting the road heading to NY! Citibank's headquarters are in NY, they have plenty of money to keep their headquarters there, so I don't think the low cost of Charlotte is going to make them move their whole HQ over here.. Charlotte is BEYOND inferior to NY.. you can't compare. So it looks like Charlotte isn't all it's cracked up to be, but let's face it.. I don't see why this place was ever hyped up anyway!!!!
I was debating whether to even respond to this, but even if you don't like Charlotte your facts are so off base. Most companies of any size when they acquire another don't just move the acquired work force, your expense and turn-over would be huge. 30K people are here, it may be 20K in 2010, but they will have a presence. Also, no one would expect CitiBank to move their headquarters here, but they could move support staff. This happens a lot when you are talking about places such as Cali, NY, Boston, etc, where COL is high. This is how AZ, NM, Nevada, Texas, and even the Carolinas saw a Boom in the 90s and early 2000's cheap land and people. Companies also do look at cost of people, which is why outsourcing is popular, so maybe they just move 20K jobs to India, they aren't going to move many to NY, no reason to.

Finally when you say Charlotte is hyped, I don't see too many people say come to the Carolinas, we have two Big Banks HQ'd here. I see it mroe for weather, community, amenities, people and opportunity. So right now the opportunity may be tough, geez, where isn't it tough!
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Old 09-29-2008, 03:03 PM
 
Location: Huntersville
1,852 posts, read 4,674,877 times
Reputation: 525
Quote:
Originally Posted by BlackOut View Post
I never said I agree with him. Hell, who knows what is going to happen next.

Here is Cramer's piece: Jim Cramer's 'Stop Trading!': Inaction Creating Super Banks - TheStreet.com
Sorry didn't mean you didn't make sense, I mean Cramer doesn't make sense. He is a fool and it scares me that people are listening to him. They need a disclaimer, this show is for Entertainment Value only and no information should be gleened as being useful.
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Old 09-29-2008, 03:04 PM
 
1,588 posts, read 3,563,142 times
Reputation: 889
Looks as though Sovereign and Nat. City could be next.


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Old 09-29-2008, 03:06 PM
 
1,588 posts, read 3,563,142 times
Reputation: 889
Quote:
Originally Posted by Whytewulf View Post
Sorry didn't mean you didn't make sense, I mean Cramer doesn't make sense. He is a fool and it scares me that people are listening to him. They need a disclaimer, this show is for Entertainment Value only and no information should be gleened as being useful.
Never actually watched him, but I've read plenty of his little articles and such online.
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Old 09-29-2008, 03:08 PM
 
1,800 posts, read 5,171,672 times
Reputation: 734
Quote:
Originally Posted by anifani821 View Post
Plus,



Meanwhile, I am looking at some land . . . and if the sky falls, my CD buds can come put their trailers beside mine.
Just send the directions...I'll be there, Mint Juleps in hand...
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Old 09-29-2008, 03:10 PM
 
Location: Charlotte, NC
3,356 posts, read 8,882,299 times
Reputation: 1932
Well if all the banks fail I would have nobody left to pay the mortgage to.
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Old 09-29-2008, 03:10 PM
 
Location: South Carolina
44 posts, read 118,831 times
Reputation: 17
Quote:
Originally Posted by flyingscotsman View Post
Well if all the banks fail I would have nobody left to pay the mortgage to.

That's one way to look at this
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Old 09-29-2008, 03:11 PM
 
Location: State of Being
35,885 posts, read 67,172,097 times
Reputation: 22373
Quote:
Originally Posted by BlackOut View Post
Looks as though Sovereign and Nat. City could be next.

Where are you getting info on National City? They have been very cautious w/ their lending practices (I thought). Geeezz.
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