> Mo wrote: > > I stand by my earlier statement then. I disagree. >
Taking nothing away from the wager I'll say this: We're both right. Wells and all the other big banks are tied together in a few ways: (1.) Via swaps (2.) Via mutually owned assets; i.e., "the market" (3.) Via regulation. So let's use-case it out: Let's say you're right and Wells is all nice and solvent but Citi isn't. So the gov't takes receivership of Citi only. What might Wells shareholders and depositors think when they saw that? Would it be: (a.) Wells is fine, we needn't take our money out, nor sell our shares because they say they're juuuuust fine. And I believe them. You can't take that to the bank! Or (b.) HOLY SHIT! The government is all over these big banks! If they grab Wells my investments or deposits could get wiped out! Run the bank! See I think it's (b.) And, call me stupid, buy I have enough faith in the government to assume they do too. And so if they need to grab Citi, they'll be smart enough to grab all of them to prevent a market meltdown. But ... if assets prices magically recover and NO takeovers of the majors are needed then Wells might be fine. So we're both right. But while we wait, check this out: --------- On February 27, 2009, Chicago-based MB Financial Bank acquired insured and uninsured deposits and loans from Heritage Community Bank in a transaction facilitated by the Federal Deposit Insurance Corporation (FDIC). In these types of transactions, no advanced notice is given to the public. Please be assured that all your deposits - checking, savings, Certificates of Deposit, business checking, Social Security direct deposit and others -- are safe, remain readily accessible and that MB is looking forward to serving all your banking needs. In fact, by March 6, 2009, you will have free access to all ATMs in MB's network! And that's just the start of our great new relationship. All Heritage Community Bank branches will reopen as MB branches on Saturday, February 28, 2009. You can expect the same great service and attention to detail that you've grown to expect. To learn more about MB, please go to www.mbfinancial.com. In addition, the FDIC has useful information regarding your relationship with Heritage Community Bank. Please select the link below to read more: http://www.fdic.gov/bank/individual/failed/heritagebank.htm ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~| Adobe® ColdFusion® 8 software 8 is the most important and dramatic release to date Get the Free Trial http://ad.doubleclick.net/clk;207172674;29440083;f Archive: http://www.houseoffusion.com/groups/cf-community/message.cfm/messageid:291855 Subscription: http://www.houseoffusion.com/groups/cf-community/subscribe.cfm Unsubscribe: http://www.houseoffusion.com/cf_lists/unsubscribe.cfm?user=11502.10531.5
