Dozens of U.S. banks will fail by 2010

Discussion in 'Wall St. News' started by Daal, Feb 11, 2008.

  1. Daal

    Daal

  2. They probably already have failed in terms of real market valuations but we have level 3 assets and transfers to level 3, transfers from available for sale to hold to maturity, a delay of FASB 157 that would bring SIV's onto the balance sheet and Fed cutting rates 2.25% revalues bond holdings upwards and revents equities being revalued downwards. Without this they would probably be technically insolvent to the oint that no accounting games could deny it.

    Meanwhile they are allowed to up interest rates on consumers to make them pay for all the banks stupidity in the persuit of moral hazard bonus awards.
     
  3. Don´t forget, me and you are also consumers, so we´re paying for this stupidity along with all other "consumers", but maybe I am switching my personal accounts to Russia as the Russian finance minister states that his country,i.e. Russian banks have not been damaged by failed subprime mortgage investments....:p
     
  4. Not a bad idea. After their 1998 default the Russian investors turned back to the type of "investments" they know best: arms, liquor, narcotics and prostitution. For many these yield better risk adjusted returns than putting their money into structured mortgage debt :D
     
  5. I like PREMIUM RUSSIAN VODKA ! :D
     
  6. I could go for a PREMIUM RUSSIAN HOOKER!!
     
  7. You don't honestly believe that, do you?
     
  8. Mauldin keeps talking about trading desk rumors a big eurozone IB bank is dead - not the Soc Gen thing. I keep seeing the same sort of stuff in the net rumor mill that the Japs are w/in weeks of disclosing a floater too.

    So here's my call on the dead eurozone bank:

    It's in the country that had no housing bubble;

    In the country whose index future is down the most ytd;

    In the country whose index future was up the most last year;

    On the NY Fed dealer bank list I think;

    Issued a TON of MBS;

    Acts as Trutsee and or servicer of a TON of MBS

    Probably leads the list of named foreclosing plaintiffs in most US states

    Recently said it has minimal subprime problems

    :p :cool:
     
  9. Daal

    Daal

    DB?they are interested on the ambac bailout so maybe they are not lying about minimal exposure NET of reinsurance. the reinsurance that is the problem :p