Anyone care to bet which one it will be? The obvious choice is Bank of America. I will go out on a limb here and predict (based on current information) that Wachovia will be in the news more sooner than later.


From the Times Online (UK)

The deepening toll from the global financial crisis could trigger the failure of a large US bank within months, a respected former chief economist of the International Monetary Fund claimed today, fuelling another battering for banking shares.

Professor Kenneth Rogoff, a leading academic economist, said there was yet worse news to come from the worldwide credit crunch and financial turmoil, particularly in the United States, and that a high-profile casualty among American banks was highly likely.

“The US is not out of the woods. I think the financial crisis is at the halfway point, perhaps. I would even go further to say the worst is to come,” Prof Rogoff said at a conference in Singapore.

In an ominous warning, he added: “We’re not just going to see mid-sized banks go under in the next few months, we’re going to see a whopper, we’re going to see a big one — one of the big investment banks or big banks,” he said.

Wachovia has problems. But it made no sense to me why Bank of America swooped in to acquire Countrywide. I imagine Countrywide will be BoA's downfall.

I can't imagine what a clusterfuck there will be if either Wachovia or B of A go under with the amount of branches and assets they both have. Wachovia is much more at rish because they're a lot smaller. I'll really be up the creek without a paddle if it turns out to be Smith Barney



Edited 1 time(s). Last edit at 08/19/2008 07:34PM by Mofo.

I don't think BoA will actually go under. They are literally to big for the public (Government) to let them fail. Wachovia is close, but will be in the news, but not fail.

And if regulators get desperate, merging with other stronger banks is an option. Have you seen the value of the Canadian dollar to the US? Far out prediction, but give me 25 to 1 odds and I will bet on it.

Radiophile Wrote:
-------------------------------------------------------
> Have you seen
> the value of the Canadian dollar to the US?

yes i have.

Quote
[url
http://www.xe.com/ucc/[/url] ]

Live rates at 2008.08.20 16:55:03 UTC
1.00 USD                  =     1.06364 CAD
United States Dollars 	  	Canada Dollars
1 USD = 1.06364 CAD 	  	1 CAD = 0.940171 USD

the difference is that USD is going to bounce back (eventually) while CAD isnt going anywhere.


"the wisdom of the wise will perish, the intelligence of the intelligent will vanish."

Gravis Wrote:
-------------------------------------------------------

>
> the difference is that USD is going to bounce back
> (eventually) while CAD isnt going anywhere.


The American Greenback...


The Canadian "Loonie"...


My fowlic symbol will kick you fowlic symbol's ass any day.

Here's my $2-$1.98 (yes .02's) worth

At the rate that BofA greeted illegals with open arms, accounts and mortagages; without prove of citizenship or any legal documentation, rather then Wachovia, it will be BofA that goes under first.

Wachovis already had a shake up months ago, as a result of an ongoing Federal investigation and they are still standing, after paying a huge fine.

The mortgage meltdown has not stopped, and we are now looking at a global recession possibly.

The polar caps are still melting too.

Maybe if you weren't so focused on racism, you could be productive and have a job to go to at 8am instead of writing posts on some dumb Internet forum at four in the morning.

for what it's worth, some of us post from our jobs at 4am... and make a damn good living doing it

NOC?

yup

pgens wrote:

"Maybe if you weren't so focused on racism, you could be productive and have a job to go to at 8am instead of writing posts on some dumb Internet forum at four in the morning."

Are you saying my problems are brought on in part due to the appearance of racism?

Because let me be perfectly clear, speaking the truth even if you don't like it, is not racism. This is a rumor the Hispanic community has started, along with alot more, to the pt. of being terrorizing and harassing. I no longer hire Hispanics because I was being overcharged. After doing some research I received a hefty refund from one Hispanic. Another said he was paid to befriend me, weird?
I'm not racist, some of them are nice people, but that doesn't mean they can break our laws to get into our country and continue to do so once here.

What I do or not do is none of your business, but sleeping is difficult, You can only be beaten down for so long, it becomes very depressing to continuely get out there and look for a job and not getting one. My attorney, said once I find one start looking for another one and don't tell him where I'm working. Whatz up with that?

I'm part Native American, African American, Scot-Irish, English, German..., how could I be racist? I don't see color, I see people.

Why are you here, if this site is so dumb? Do you think about our econony at all, and the impact illegals have upon our economy and our country? Someone who doesn't think about such things is dumb, Worse is the environment, once it's destroyed, it's gone.

You are harassing and following me on this site, why?

You're afraid of something or maybe your getting paid?

I see you as the WEAKEST link.

Good call Radio.

"This is a rumor the Hispanic community has started, along with alot more, to the pt. of being terrorizing and harassing. I no longer hire Hispanics because I was being overcharged. After doing some research I received a hefty refund from one Hispanic. Another said he was paid to befriend me, weird?"

Spunky old chum, ole buddy, you are as delusional as they come. Here's some more koolaid.

496 Wrote:
-------------------------------------------------------
> "This is a rumor the Hispanic community has
> started, along with alot more, to the pt. of being
> terrorizing and harassing. I no longer hire
> Hispanics because I was being overcharged. After
> doing some research I received a hefty refund from
> one Hispanic. Another said he was paid to befriend
> me, weird?"
>
> Spunky old chum, ole buddy, you are as delusional
> as they come. Here's some more koolaid.

Whatz this off subject rambling have to do with this subject?

Whatz your point?

I said three words in this thread, and you attack me from left field, like an angry person, whatz up with you? Oh, you must be upset that I called you out...Elliot.