Weiss Research: 1,479 U.S. banks and 158 U.S. thrifts are at risk of failure

[metalman]

Re: Weiss Research: 1,479 U.S. banks and 158 U.S. thrifts are at risk of failure

Not bad work, for a guy who has occasionally been disparaged as a "stopped clock" in this community in the past. Apparently Mr. Weiss has his good uses, when the real meltdown begins (which he's been forecasting for a half dozen years anyway). I always found their group's research pretty good - but it seems Weiss has only recently been gaining "reputability" on these pages.

his research is fantastico! his prognostications are strictly it's midnight all day every day ...

Global Markets Face `Severe Correction,' Faber Says

Last Updated: January 8, 2007 10:58 EST

Jan. 8 (Bloomberg) -- Marc Faber, who predicted the U.S. stock market crash in 1987, said global assets are poised for a ``severe correction'' and it's time to sell.

``In the next few months, we could get a severe correction in all asset markets,'' Faber said in an interview with Bloomberg Television in New York. ``In a selling panic you should buy, but in the buying mania that we have now the wisest course of action is to liquidate.''

[c1ue]

Re: Weiss Research: 1,479 U.S. banks and 158 U.S. thrifts are at risk of failure

Just to be clear, I have not researched Everbank and don't have any particular informed opinion on them.

I am, however, aware of numerous instances in the past where various marketing ploys were used to bring in deposits. In the beginning, it was a free toaster...

Everbank may have used the 'foreign exchange' angle as one to get deposits, then played the MBS game via leverage.

However, they might not have. Or maybe some other game was being played. Or not.

I just don't know.

But if I were to put money there, be damned if I didn't find out!

[ER59]

Re: Weiss Research: 1,479 U.S. banks and 158 U.S. thrifts are at risk of failure

Hope it is helpful. I came across of the Unofficial list of troubled banks as of 06/30/2008:
http://www.geocities.com/tubeguy@rogers.com/

EverBank is not on the list because "...a huge portion of Everbank's non-performing assets are GNMA loans guaranteed by Uncle Sam. The default rates on these are quite high."

There is the HELOC, Comm. RE & Construction Loan Exposure as of 06/30/2008 as well:
http://bankimplode.com/list/troubledassets.htm

[Redwoods]

Re: Weiss Research: 1,479 U.S. banks and 158 U.S. thrifts are at risk of failure

Can anyone refer to a list of the most solvent BROKERAGES to keep one's stocks/funds at? It's either not part of or hard to find amongst TheStreet.com's bank/thrift screener referenced in Weiss' paper.

[we_are_toast]

Re: Weiss Research: 1,479 U.S. banks and 158 U.S. thrifts are at risk of failure

Can anyone refer to a list of the most solvent BROKERAGES to keep one's stocks/funds at? It's either not part of or hard to find amongst TheStreet.com's bank/thrift screener referenced in Weiss' paper.

Been wondering this myself. With Wall street crashing, how safe are the brokerages? If there's a run on brokerage accounts, can the firms handle it?

[raja]

Re: Weiss Research: 1,479 U.S. banks and 158 U.S. thrifts are at risk of failure

Been wondering this myself. With Wall street crashing, how safe are the brokerages? If there's a run on brokerage accounts, can the firms handle it?

I called up Ameritrade and spoke to a broker there.

Using my holding in CEF as an example, he said that Ameritrade sends my name to a transfer entity showing the number of shares I have. The transfer entity then registers my name with CEF.

However, when I called CEF, they said that brokerages have some sort of group accounts, and CEF does not have the registrations in the name of the individual stock buyers who purchase through brokerages. Thus, if I keep the stock in Ameritrade, I'm relying on Ameritrade and the transfer entity to keep it all straight. CEF suggested that I get Ameritrade to send me the actual stock certificate if I wanted to be secure in my investment.

The problem with a certificate is that the process of cashing it in is slow and cumbersome, i.e., the physical certificate has to be sent somewhere to sell the shares.

Another worry: My wifes says, "If there is a hyperinflation or some other extreme financial crisis causing social turmoil, how do we know that CEF will still be operating and the gold will still be in the safe." Good question.

I suppose it all boils down to allocating one's portfolio according to the level of risk that one attributes to the various possible scenarios that are looming. There's a trade-off of security versus convenience and being able to sell quickly.
I'm still on the fence about what to do about CEF . . . .

[Slimprofits]

Re: Weiss Research: 1,479 U.S. banks and 158 U.S. thrifts are at risk of failure

Our information is that the FDIC is prepared for 1,000 banks to close over the next three years, primarily due to over-exposure to commercial real estate.

Thanks FRED!