Which banks are likely to collapse first?

[Fauna08]

The collapse of the Banking system is coming soon..

Are there any banks in the U.S that are somehow more sound that others?

Are small banks likely to go down first, do you think?

 

[bander87]

I hear that small banks will go down first, and if they have less money, then it makes sense?

 

[buffalokid777]

In terms of investment banks.....looks like Lehman Bros is next on the block after Bear Stearns.....Record Shorts on Lehman....makes me think they will be the next to go the Bear Stearns route........the insider rats always seek to profit from what they know as they jump off the sinking ship for a swim to a safe haven......

 

[HOLLYWOOD]

WaMu... Washington Mutual Bank

They are massively entrenched with sub-prime loans and home equity loans against sub-prime mortgages. between all the ARM's and Sub-Primes... Washington Mutual has almost $85 BILLION in jeapordy! Collapse coming soon if the US Government doesn't assist.

the latest is they are seeking a private bailout from the FED via secondary private entities. (like Bear Sterns - JP Morgan Chase)

 

[acptulsa]

I don't hold a lot of hope for the credit card issuers. When inflation causes prices to outstrip salaries, credit cards will be the first rubber crutch whipped out in response, and when neither a raise in pay nor deflation is forthcoming to save consumers, I for one wouldn't want to be in that business...

 

[loreleiah]

Well, this whole system of Banking worries me.. But what are your practical choices for storing money if the banks are going down under?

I know keeping cash in hand is one, but it would also cause me sleeplessness knowing that I have money laying around in my house and at anytime I could lose it. I guess it's not much different than having money in the bank then. But flying with more than 10,000 abroad could present an issue.

What are your recommendations people? Open a foreign account somehow? What about things like ETrade? Are they likely to be affected by the financial system collapse as well?

Anyone use ETrade here? What are your feeling about it? Safer than regular banks?

 

[Truth Warrior]

The ones that AREN'T designated as "too big to fail".

 

[Deborah K]

From HollyWood: WaMu... Washington Mutual Bank They are massively entrenched with sub-prime loans and home equity loans against sub-prime mortgages. between all the ARM's and Sub-Primes... Washington Mutual has almost $85 BILLION in jeapordy! Collapse coming soon if the US Government doesn't assist.
the latest is they are seeking a private bailout from the FED via secondary private entities. (like Bear Sterns - JP Morgan Chase)

We bank with them, but we pulled our money out months ago and invested it in foreign stock and currency, gold, silver, ammo, food and household essential stockpiling. We only keep enough money in it to pay bills. I recommend everyone else do as we have done. If nothing happens, no harm done.

 

[pappy]

There will be many firsts. I don't claim to know which ones. I do have an opinion about the last though. I think Chase is "too big to fail" as Truth warrior put it.

pappy

 

[rodo1776]

it will be the brokerages that fail first. Lehman brothers, Morgan Stanley, Merrill Lynch, Goldman sacks.

This will happen when all the derivatives and toxic debt instruments finally unwind.

Then the banks will start going down as well.

It could be so big the fed can't stop it.

Hopefully not, but In the meantime buy some PUTS expiring in January at half the current stock price for each of these brokerages.

If they go down you will make lots of money. If they don't go down then maybe the economy will recover.

 

[Fauna08]

Everbank?

I just came across info on Foreign Currency Accounts at Everbank: http://www.everbank.com/001Currency.aspx?LinkID=Promo1

I wonder how trustworthy something like this would be?

Would you consider this a safer investment than having a normal u.s bank account?

Any thoughts on or users of Everbank?

 

[yongrel]

The banks with the poorest structural integrity.

 

[rockandrollsouls]

Indymac is going bankrupt imo.

 

[wirenut]

Lehman's brothers and washington mutual.

 

[d991]

Lehman Brothers is doomed.. their stock price is tanking and no one believes anything they say.
There are rumors swirling that Goldman Sachs is going to report big losses next week. That may be interesting.

 

[buffalokid777]

Well, this whole system of Banking worries me.. But what are your practical choices for storing money if the banks are going down under?

I know keeping cash in hand is one, but it would also cause me sleeplessness knowing that I have money laying around in my house and at anytime I could lose it. I guess it's not much different than having money in the bank then. But flying with more than 10,000 abroad could present an issue.

What are your recommendations people? Open a foreign account somehow? What about things like ETrade? Are they likely to be affected by the financial system collapse as well?

Anyone use ETrade here? What are your feeling about it? Safer than regular banks?

I would go with a mixture of precious metals and Foreign investment.....

www.europac.net

is a good place to do that.......while many investment companies are scaling back.....euro pacific is growing......

CEO Peter Schiff is a very wise man and a Ron Paul economic consultant to boot.....

I would advise reading Schiff's book crashproof and opening an account with euro pacific capital......