Ticker has all sorts of bad news.
"If we do not see a meaningful recovery in home prices by the end of the year, we may need to contemplate impairment charges on first liens owned by banks and wholesale write-downs of second lien exposures. This implies solvency issues..." C Whalen, Inst'l Risk Analytics, quoted by Ticker.
Named in the Whalen quote: Citi, B of A, JPMorganChase, and WellsFargo.
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3 comments:
Could be worse.
You could be a bank in Germany sitting on a pile of Greek debt right now. It's coming a part at the seams over there right now.
There's a difference between Greek debts and Lehman MBSs?
Oh, that's right: the US taxpayer made good on the Lehman MBS. Not that they volunteered to do so, of course.
Are you purchasing ammo, Struppster?
Not yet. But I think I'll cruise by that section of Cabela's and take a look at what they have over there.
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