You'd think this day and time people wouldn't be so stupid. But they are which almost gives the picture credibility. Almost, but not. Have them look at how WAMU customers taking $17 billion out worked out for WAMU.
Good point, HooLee. The umbrellas out in sunny weather tell me this probably isn't the US; Americans just don't do that (although I must say it's a good idea for those wanting to limit their exposure to sun -- far safer and more effective than sunscreen!).
Look guys Bloomberg actually reported that WAMU experienced a "silent" run. Bank run in todays world can be electronic via ACH and wire transfer. Report says that Wachovia could also experience the same. http://www.bloomberg.com/apps/news?pid=20601087&sid=abBNamZRcvds&refer=home `Silent' Run Still, customers may not be assuaged. Louise Pitt, a credit analyst at Goldman Sachs Group Inc., wrote in a report today that Wachovia may face the possibility of a ``silent'' run on desposits similar to that confronted by WaMu. Outflows could come because of ``negative industry headlines and fear among retail customers,'' Pitt wrote in a report today. The bank has about $391 billion in core deposits out of a total of $436 billion, said Pitt, who cut her rating on Wachovia to ``trading sell'' from ``outperform.''
C is not going to step in the way of this one. Bunch of garbage. WB is done. C has had too much trouble financing their own mess UNLESS they do an equity deal.