You are viewing an obsolete version of the DU website which is no longer supported by the Administrators. Visit The New DU.
Democratic Underground Latest Greatest Lobby Journals Search Options Help Login

Reply #22: Friend of mine works at a large bank in NY. [View All]

Printer-friendly format Printer-friendly format
Printer-friendly format Email this thread to a friend
Printer-friendly format Bookmark this thread
This topic is archived.
Home » Discuss » Archives » General Discussion (1/22-2007 thru 12/14/2010) Donate to DU
lurky Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Feb-20-09 07:43 AM
Response to Original message
22. Friend of mine works at a large bank in NY.
I won't say which one. She was basically telling me that the bad news is not over. There are a ton of "toxic" assets that have not been revalued yet because of accounting loopholes the banks are using to keep the losses off their books. Eventually, they will have to revalue them, at which time the banks will probably become officially insolvent. Pretty scary.
Printer Friendly | Permalink |  | Top
  -interesting prediction....Citi bank and BOA are goin down within 60 days maybe lots sooner ORDagnabbit  Feb-20-09 12:01 AM   #0 
  - I wouldn't be the least bit surprised  alcibiades_mystery   Feb-20-09 12:03 AM   #1 
  - k&N  NMDemDist2   Feb-20-09 12:03 AM   #2 
  - We should start charging for NATIONALIZING capitalism . . .!!!!  defendandprotect   Feb-20-09 12:04 AM   #3 
  - That made me realize how happy it would make me to  truedelphi   Feb-20-09 02:31 AM   #19 
  - I have credit cards and a loan through BofA  rpannier   Feb-20-09 12:05 AM   #4 
  - I have a student loan through Citi.  murielm99   Feb-20-09 01:00 AM   #15 
  - Student loans are a definite credit problem for the nation . . .  defendandprotect   Feb-20-09 09:07 AM   #23 
  - My mortgage and credit cards  ellie   Feb-20-09 12:50 PM   #43 
  - IF either fails there will be a huge run on the others....  Blackhatjack   Feb-20-09 12:10 AM   #5 
  - This is a crock. It will not happen.  David Dunham   Feb-20-09 12:18 AM   #6 
  - Cut out the nonsense people! Bear Stearns is solid as a rock!  JackRiddler   Feb-20-09 01:05 AM   #17 
  - as the poster said.. .ruh roh  ORDagnabbit   Feb-20-09 02:04 AM   #18 
  - Bingo!  jtbrick   Feb-20-09 12:21 AM   #8 
  - The answer as to what has not been revealed is that the sinkhole  truedelphi   Feb-20-09 02:34 AM   #20 
     - Not to downplay the problem . . . but the problem is unregulated capitalism . . .!!!  defendandprotect   Feb-20-09 09:12 AM   #24 
        - Newsweek's headline this week is  truedelphi   Feb-20-09 01:34 PM   #46 
           - Interesting comments . . .  defendandprotect   Feb-20-09 04:12 PM   #52 
  - All the kings horses and all the kings men cant put humpty dumpty back together again.  seemslikeadream   Feb-20-09 12:19 AM   #7 
  - Why would we want to? Capitalism is over -- MoveOn to economic democracy . . .  defendandprotect   Feb-20-09 09:14 AM   #25 
     - I'm with ya.  readmoreoften   Feb-20-09 01:10 PM   #45 
  - K&R  MilesColtrane   Feb-20-09 12:33 AM   #9 
  - What about ChaMu?  ananda   Feb-20-09 12:36 AM   #10 
  - Or Citiwide of America Lynch (aka C.O.A.L.! -are they "Clean"?)  cascadiance   Feb-20-09 12:58 AM   #14 
  - It's now gotten to the point where all sorts of bullshit fake stuff  The_Casual_Observer   Feb-20-09 12:43 AM   #11 
  - It does not seem to be CitiBank's week  seemslikeadream   Feb-20-09 12:51 AM   #12 
  - My sister works at BofA... Hoping she survives this if true...  cascadiance   Feb-20-09 12:53 AM   #13 
  - Citi Execs Takes Care Of Their Own  seemslikeadream   Feb-20-09 01:05 AM   #16 
  - So, which banks are solid-er, and FDIC insured?  snot   Feb-20-09 02:43 AM   #21 
  - Friend of mine works at a large bank in NY.  lurky   Feb-20-09 07:43 AM   #22 
  - "Officially Insolvent" is the key there. nt  ipfilter   Feb-20-09 09:16 AM   #26 
  - Which is why these banks have to be declared insolvent -- and nationalized . . .  defendandprotect   Feb-20-09 09:17 AM   #27 
  - These big banks need to be broken up and strict regulation imposed.  Liberal In Texas   Feb-20-09 09:19 AM   #28 
  - I've got all my money in BOFA, and I'm not about to dump it because someone on the internet told me  no limit   Feb-20-09 10:45 AM   #29 
  - that's who i bank with, i'm not worried, i don't love BOFA but so far i've had no problems  AlCzervik   Feb-20-09 10:47 AM   #30 
     - If you are under the FDIC insurance limits, then there shouldn't be any problem sticking with BOA  DeschutesRiver   Feb-20-09 11:07 AM   #31 
        - But lets assume BofA fails, Would I still have instant access to my money or would there be a delay?  no limit   Feb-20-09 11:31 AM   #33 
           - I honestly have no idea anymore  DeschutesRiver   Feb-20-09 11:44 AM   #34 
           - According to the last financial report available for the FDIC...  MilesColtrane   Feb-20-09 12:03 PM   #35 
              - FSLIC couldn't either during the S&L deal  DeschutesRiver   Feb-20-09 12:27 PM   #41 
              - I believe that insuring S&L deposits was eventually turned over to the FDIC.  MilesColtrane   Feb-20-09 12:42 PM   #42 
                 - That is what I recall re fslic/fdic  DeschutesRiver   Feb-20-09 03:03 PM   #50 
              - Ding, ding, ding. Why isn't this a major story?  joeunderdog   Feb-20-09 03:10 PM   #51 
  - Citigroup stock down 21.5% so far today. Trading at $1.97 a share.  MilesColtrane   Feb-20-09 11:09 AM   #32 
  - There was just a caller into Thom Hartmann who said his Citibank  Cleita   Feb-20-09 12:07 PM   #36 
  - Citibank now at $1.85...-26.29% for the day.  MilesColtrane   Feb-20-09 12:09 PM   #37 
  - Dodd Says Short-Term Bank Nationalization Might Be Needed as Shares Plunge  seemslikeadream   Feb-20-09 12:09 PM   #38 
  - I am trying to get a mortgage finalized with Countrywide right now...  LeftHander   Feb-20-09 12:14 PM   #39 
  - Dropping like anvils.  MilesColtrane   Feb-20-09 12:22 PM   #40 
  - Someone's sprinkling magic fairy dust.  MilesColtrane   Feb-20-09 01:01 PM   #44 
  - "Nevermind"  MilesColtrane   Feb-20-09 01:37 PM   #47 
  - Looks like the stocks bounced back up to yesterday levels (almost)  no limit   Feb-20-09 02:47 PM   #49 
  - I guess Arab and taxpayers' money could keep Citi afloat  Sultana   Feb-20-09 01:38 PM   #48 

Home » Discuss » Archives » General Discussion (1/22-2007 thru 12/14/2010) Donate to DU

Powered by DCForum+ Version 1.1 Copyright 1997-2002
Software has been extensively modified by the DU administrators

Important Notices: By participating on this discussion board, visitors agree to abide by the rules outlined on our Rules page. Messages posted on the Democratic Underground Discussion Forums are the opinions of the individuals who post them, and do not necessarily represent the opinions of Democratic Underground, LLC.

Home  |  Discussion Forums  |  Journals |  Store  |  Donate

About DU  |  Contact Us  |  Privacy Policy

Got a message for Democratic Underground? Click here to send us a message.

© 2001 - 2011 Democratic Underground, LLC