rumor - large bank contacted the FED

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updated 12:55 p.m. ET, Mon., June. 2, 2008
CHARLOTTE, N.C. - Wachovia Corp. chief executive Ken Thompson was pushed out Monday as head of the nation’s fourth-largest bank, becoming the latest financial services executive to be ousted amid turmoil in the U.S. housing market.
 
Quote from NY_HOOD:

a rumor circulating today about a large bank contacting the Fed concerning funding. things are getting ugly.
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I'm sure they all have.
 
I am hearing lehman and UBS so far. this is coming from someone who works in the legal department of a "major bank". he actually told me about bear stearns a day before it happened,it was a sunday but there was buzz on friday.just be careful with those 2 in particular.
 
he also mentioned that Citigroup is in trouble and its not just sub prime,its credit card defaults. if he knows this,so do many others and watching the price action,i believe its true. STAY AWAY from all banks and brokers. do not bottom fish.
 
If C or GS or even DB gets into a lot of trouble in the next few quarters, then US would be really in a great depression.
 
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