Which financial company will go bankrupt next?

Which company should stop being allowed to beg at the discount window and go belly up

  • LEH

    Votes: 70 34.3%

  • ABK

    Votes: 23 11.3%

  • MBI

    Votes: 5 2.5%

  • WM

    Votes: 48 23.5%

  • CFC

    Votes: 11 5.4%

  • C

    Votes: 8 3.9%

  • MER

    Votes: 14 6.9%

  • TMA

    Votes: 12 5.9%

  • HOV

    Votes: 6 2.9%

  • MF

    Votes: 7 3.4%
  • Total voters
    204
Office of Thrift Supervision shuts down IndyMac

Friday July 11, 8:52 pm ET
By Alex Veiga, AP Business Writer

Office of Thrift Supervision steps in and closes IndyMac Bank; FDIC takes over operations

LOS ANGELES (AP) -- IndyMac Bank's assets were seized by federal regulators on Friday after the mortgage lender succumbed to the pressures of tighter credit, tumbling home prices and rising foreclosures.

http://biz.yahoo.com/ap/080711/indymac.html


SO WHO'S NEXT?

:p
 
Analyst warns on Wachovia amid more bank worries

Tuesday July 15, 9:59 am ET

Analyst calls situation bleak for Wachovia as jitters about the banking system continue

NEW YORK (AP) -- The situation is increasingly bleak for Wachovia Corp. and the bank's mortgage portfolio will continue to lose value, "seriously jeopardizing" the company's ability to generate earnings, an influential analyst warned on Tuesday.

The latest note of caution came as the government moved to reassure people their money is safe in the nation's banks. Yet fears about the system persisted and financial shares were broadly lower Tuesday, signaling another tough day for the stock market.

Federal Reserve Chairman Ben Bernanke is scheduled to brief Congress Tuesday on the economy, which has been walloped by high energy prices and fallout from the housing slump and credit crunch. The testimony also comes amid a backdrop of rising oil prices and a slumping dollar, and as stock markets overseas tumble amid worries about the U.S.

http://biz.yahoo.com/ap/080715/banks.html?.v=5
 
Merrill shares plummet amid wider financials decline

Monday July 28, 2:33 pm ET

NEW YORK (Reuters) - Merrill Lynch (MER - News) shares dropped nearly 10 percent on Monday, leading the entire sector lower as investors fretted over credit quality and the housing sector.

The sell-off came after a rally last week that lifted many banks' shares 40 percent or more.

U.S. lawmakers passed a housing rescue package over the weekend aimed at helping struggling homeowners and shoring up confidence in mortgage finance giants Fannie Mae (NYSE:FNM - News) and Freddie Mac (NYSE:FRE - News).

But analysts said the bill would take time to go into effect, and would not likely cure the U.S. housing crisis as the financial sector wrestles with many difficulties.

http://biz.yahoo.com/rb/080728/merrill_shares.html
 
The Endgame Nears For Fannie and Freddie

By Jonathan R. Laing

IT MAY BE CURTAINS SOON FOR THE MANAGEMENTS and shareholders of beleaguered housing giants Fannie Mae and Freddie Mac. It is growing increasingly likely that the Treasury will recapitalize Fannie and Freddie in the months ahead on the taxpayer's dime, availing itself of powers granted it under the new housing bill signed into law last month. Such a move almost certainly would wipe out existing holders of the agencies' common stock, with preferred shareholders and even holders of the two entities' $19 billion of subordinated debt also suffering losses. Barron's first raised the possibility of a government takeover of Fannie ...

http://online.barrons.com/article/SB121884860106946277.html
 
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