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Location: Georgia, on the Florida line, right above Tallahassee
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If the credit crisis continues, it is highly likely that an American regional or national bank will fail. Which bank do you suspect will be the first to fall?
Banks still do fail.
Northern Rock Looks Set To Be Nationalised - The MoneyOutlet.co.uk (http://www.moneyoutlet.co.uk/2008/01/northern-rock-looks-set-to-be-nationalised.html - broken link)
Here's something profound, although not really a "bank"
Fannie Mae and/or Freddie Mac
Yes, I proposed the unthinkable.
While a taxpayer bailout will likely occur, a bailout will be insufficient to allow these entities to absorb commercial paper in the future. Rather, the existing bad loans will be reconciled and that's it.
Link to this thread 1-3 years from now and see if I'm right.
CORRECTION: The poster said first. Still, this is likely in the pipeline with the massive amount of bad loans on these guys' books.
1 Wamu 2 Citi 3 UBS...What will really happen will be UBS and Wamu will get aquired and citi will split up the company. Citi is in very bad shape...they are going to have big profit and job losses for a while.
No big US bank will fail. It just doesn't happen. They'll get bought out before they fail. Especially a bank like Washington Mutual (yeah I'm not calling it a made up word) which has it's hooks in so many major cities.
What will make it interesting the federal cap limiting banks to 10% national market share makes certain mergers impossible.
No big US bank will fail. It just doesn't happen. They'll get bought out before they fail. Especially a bank like Washington Mutual (yeah I'm not calling it a made up word) which has it's hooks in so many major cities.
What will make it interesting the federal cap limiting banks to 10% national market share makes certain mergers impossible.
It "doesn't happen" like a terrorist attack won't happen just because it's been 7 years.
It's always interesting to see when people have the false sense of security that the government can actually prevent insolvency of financial institutions.
No, it doesn't happen because it doesn't happen. When did I mention the government? Oh, that's right I didn't. However, you know the government would bail any large institution out. Just like they want to do with subprime stuff. This country has tied far too much to large corporations, not just banks. The economy needs to tank to wake people up. Propping it up with bandaids is not a long term solution.
No, it doesn't happen because it doesn't happen. When did I mention the government? Oh, that's right I didn't. However, you know the government would bail any large institution out. Just like they want to do with subprime stuff. This country has tied far too much to large corporations, not just banks. The economy needs to tank to wake people up. Propping it up with bandaids is not a long term solution.
ahh...3 banks failed in the US last year and one all ready this year.
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