9 Banks down and OMG Monday

[thunderdownunder]

http://www.fdic.gov/bank/individual/.../banklist.html

Taint going to be pretty Monday with CIT cliff diving as well

Better go clean out the Bunker

Now we are talking big dollars 9 banks and 153 branches in a loss sharing arrangement with US Bank and FIDC

[Mega]

Re: 9 Banks down and OMG Monday

Roger That.............Not looking good.
Mike

[BigBagel]

Re: 9 Banks down and OMG Monday

Why do you think the market will go down? The DJIA will probably go up 400 points and more then wipe out last week's losses. You sorry souls are part of the reality based community.

[allenjs]

Re: 9 Banks down and OMG Monday

http://www.fdic.gov/bank/individual/.../banklist.html

Taint going to be pretty Monday with CIT cliff diving as well

Better go clean out the Bunker

Now we are talking big dollars 9 banks and 153 branches in a loss sharing arrangement with US Bank and FIDC

We're not even close to the bank failure rate that we saw in 1989. And it appears that CIT is going into quick bankruptcy restructuring that allows them to continue to operate. I don't see how either bit of news will shake the markets -- we need a big sovereign debt incident somewhere instead.

[pwcmba]

Re: 9 Banks down and OMG Monday

http://www.fdic.gov/bank/individual/.../banklist.html

Taint going to be pretty Monday with CIT cliff diving as well

Better go clean out the Bunker

Now we are talking big dollars 9 banks and 153 branches in a loss sharing arrangement with US Bank and FIDC

Real bad timing Timmy! Is Treasury really so clueless that they don't even know the next banks to be shut by FDIC? Wow.:eek:

http://www.chicagotribune.com/busine...0,502486.story

"The timing was awkward. The government shut down $4.7 billion-asset Park National on the same day that its community development arm, Park National Bank Initiatives, received $50 million from Treasury Secretary Timothy Geithner at a ceremony in Chicago. That money is intended to stimulate investment in low-income communities on such projects as charter schools, health clinics and stores."

[GRG55]

Re: 9 Banks down and OMG Monday

We're not even close to the bank failure rate that we saw in 1989. And it appears that CIT is going into quick bankruptcy restructuring that allows them to continue to operate. I don't see how either bit of news will shake the markets -- we need a big sovereign debt incident somewhere instead.

And why would that be, do you think? ;)

[silverfields]

Re: 9 Banks down and OMG Monday

How about Citi ?

[e_goldstein]

Re: 9 Banks down and OMG Monday

Why do you think the market will go down? The DJIA will probably go up 400 points and more then wipe out last week's losses. You sorry souls are part of the reality based community.

yep. and it hurts.

[Quincy K]

Re: 9 Banks down and OMG Monday

Why do you think the market will go down? The DJIA will probably go up 400 points and more then wipe out last week's losses. You sorry souls are part of the reality based community.

I agree. That's why I feel much better on my -175 Baltimore Ravens money line play this Sunday.

The based reality is that they have to win at home tommorow or they are out of the playoffs. They will never catch the Steelers or the Bengals with a loss to the Broncos.

Now if the markets were only this rational I wouldn't need all these fuc_ing graphs, charts, lines, equations, head and shoulders, SMA, head fakes, palm reading and moon observing crap to come up with a thesis.

[thunderdownunder]

Re: 9 Banks down and OMG Monday

Beat me to it PWC Man- I would love to know if they cancelled the cheque.
They have know idea how stupid that makes him look. One hand of Government not knowing what the other is doing - Go figure :rolleyes:

[cjppjc]

Re: 9 Banks down and OMG Monday

I agree. That's why I feel much better on my -175 Baltimore Ravens money line play this Sunday.

The based reality is that they have to win at home tommorow or they are out of the playoffs. They will never catch the Steelers or the Bengals with a loss to the Broncos.

Now if the markets were only this rational I wouldn't need all these fuc_ing graphs, charts, lines, equations, head and shoulders, SMA, head fakes, palm reading and moon observing crap to come up with a thesis.

The idea that the Ravens have to win, and because of that will win, is not reality based. Hey they could miss the playoffs. The Dolphins will. The Titans will. You are laying 175 to win 100 on a game the Ravens are only favored by a field goal?

[Verdred]

Re: 9 Banks down and OMG Monday

I agree. That's why I feel much better on my -175 Baltimore Ravens money line play this Sunday.

The based reality is that they have to win at home tommorow or they are out of the playoffs. They will never catch the Steelers or the Bengals with a loss to the Broncos.

Now if the markets were only this rational I wouldn't need all these fuc_ing graphs, charts, lines, equations, head and shoulders, SMA, head fakes, palm reading and moon observing crap to come up with a thesis.

That's why itulip keeps the charts to the most that are necessary to prove the point. I think EJ was talking about in the "No Gold Bubble" article: people drive themselves crazy (I'm not saying you, I'm half talking to myself), when all they would have had to do was go into Gold in 2001 or so, and you'd be sitting pretty. Forums are good, but if you're making yourself frustrated then just stick with the fairly sound advice offered and live your life, or watch football, either way.

The only thing left to watch is if the Fed is ready and willing to cut anymore REAL checks (which I'm assuming we'd hear about here). If not, I wouldn't be super confident in the market going in an upwards trajectory.

Disclaimer: I do think the plummet on friday was some sort of engineered head fake (23-vampire-squidoo?), but I think the zig-zag from here out will be downward. I can't see 10,100 hitting again, but I wouldn't be surprised or dismayed at recovery of some losses next week (I liked Joe Saluzzis comment about a "bull trap")

Isn't planning for your future financial health fun?