These are the next on the list to go bust. http://ml-implode.com/ 17. Freddie Mac 16. Fannie Mae 15. American Sterling Bank - Wholesale 14. Downey Savings and Loan 13. Franklin Bank, SSB 12. Bayview Lending Group, LLC 11. Thornburg Mortgage 10. American Equity Mortgage, Inc. 9. CTX Mortgage Company (Retail) 8. First Horizon Home Loans 7. BankUnited (Wholesale) 6. Chevy Chase Bank - Wholesale 5. MortgageIT 4. Sallie Mae 3. Meridias Capital 2. Doral Financial Corp. 1. Residential Capital, LLC*
Any person who would keep their money in a countrywide spun off bank of more than $100k was just asking for it. I used to be a mortgage broker and this bank did the full gamit of subprime crap to fha crap loans. wamu was the same, totally into crap loans. Anybody keeping their savings in WAMU, who's sole exsistence was crap mortgage, needs a therapist. The next run on the bank is WAMU. Not a real bank but a POS mortgage bank that is over.
It's amazing you guys still have confidence in FDIC. After "WMD," "Subprime is contained," BSC is fired-up, ready to go," etc. Who tells you these lies? Get you a Glock. Gold & Euro cash.
On a related note did anyone see the interview yesterday with the CEO of Indymac? He is also the COO of the FDIC WFT?! Talk about a freakin' conflict of interest.
Cops to IndyMac customers: Remain calm or face arrest Daily News Wire Services Article Last Updated: 07/15/2008 09:25:40 AM PDT Police ordered angry customers lined up outside an IndyMac Bank branch to remain calm or face arrest Tuesday as they tried to pull their money on the second day of the failed institution's federal takeover. At least three police squad cars showed up early Tuesday as tensions rose outside the San Fernando Valley branch of Pasadena-based IndyMac. Federal regulators seized Pasadena-based IndyMac on Friday and reopened the bank Monday under the control of the Federal Deposit Insurance Corporation. Deposits to $100,000 are fully insured by the FDIC. Worried customers with deposits in excess of insured limits flooded IndyMac Bank branches on Monday, demanding to withdraw as much money as they could or get answers about the fate of their funds. When it was clear some wouldn't get in before closing, FDIC employees apparently took down names and told them to return Tuesday. Other customers began lining up at 1:30 a.m. Tuesday, and by dawn, tensions escalated because people on the list were getting priority. By 8 a.m., about 50 people on the list waited in one line and many more waited in another. Five people were allowed in at a time. Customers became infuriated, and police told them they could be arrested if they didn't remain calm. Police stood by at some other branches around Southern California but there were no other reports of problems. For more news and observations about crime in Los Angeles http://www.dailynews.com/breakingnews/ci_9887404
i actually expect those two to depreciate more than exotic marques such as ferrari. the gtr and r8 are the next incarnation of the nsx and viper: low-end exotics from non-exotic companies. since they lack the brand name and the mystique, they don't hold up as well. you have to understand in this segment, brand name aurora means as much as performance numbers. the nsx and viper commanded a premium in their early years, but as their novalty wore off, so did sales. i expect in 18 months, new gtr's and r8's will sell at or below msrp. that's what happened to the viper/nsx.
Skyline and R8 will depreciate faster than WM stock. ------ "When I picked up my newspaper yesterday, I thought I woke up in France" - Senator Jim "Nostradamus" Bunning