Top Banks -Predictions

GeneralGreen · Posted: Fri Sep 26, 2008 10:17 am Post subject: Top Banks -Predictions

Here's a list of the top 10 US Banks- Under them is my predictions of all I know...I do some private investments in stocks for the past 6 years...and I have been reading up...BTW WaMu was ranked number 6 a few months back...
Top Banks List
Rank Name Headquarters Deposits (billions)
Largest Banks in U.S.

Rank Institution Headquarters Assets
1. Bank of America Corp. Charlotte, N.C. $1,082,243,000
2. J. P. Morgan Chase & Company Columbus, Ohio 1,013,985,000
3. Citigroup New York, N.Y 706,497,000
4. Wachovia Corp. Charlotte, N.C. 472,143,000
5. Wells Fargo & Company Sioux Falls, S.D.) 403,258,000
6. U.S. BC Cincinnati, Ohio 208,867,000
7. Suntrust Banks, Inc. Atlanta, Ga. 177,231,000
8. HSBC North America Inc. Wilmington, Del. 150,679,000
9. Keybank Cleveland, Ohio 88,961,000
10. State Street Corp. Boston, Mass. 87,888,000

Citi- Is in trouble---I think Mike Ruppert summed it up good today on them..

ROCKMAN · Posted: Fri Sep 26, 2008 10:56 am Post subject: Re: Top Banks -Predictions

General,

You obviously understand the bigger banking picture than me. Here's a repost from another thread. I'm I not seeing the WAMU situation correctly? Granted, we probably wouldn't like having all the banking assests in the hands of just two or three megabanks. The the WAMU seizure seems to have settled that problem quickly and with no cost to the depositors or tax payers. As I mention, the WAMU shareholders took it in the teeth but such is life with high yield/risk investments.

Repost:

Exactly how did WAMU get "bailed out"??? The bank was seized by the Feds and sold at a big discount to JPM. No depositors lost a penny and thus no FDIC funds were needed. JPM now has a much bigger base to expand lending. Given the apparent big discount JPM paid they'll might actually make a nice profit on WAMU mortgage biz. WAMU still functions as a retail bank just fine (I know first hand...it's my bank and nothing has changed).

Of course, the WAMU shareholders were slaughtered (including that fund manager who put $8 billion onto WAMU last spring). But that's how it’s supposed to work, isn't it: you invest in a risky enterprise looking for big returns but the plan fails and you loose your investment. That's the same rule I accepted with every investment I've ever made.

Now WAMU failure is off the table. So how does this add pressure to Congress to bail out any banks??? The depositors lost no money, the mortgages are still in place and JPM now has a much bigger lending base and thus brings money to the market. And biz goes on as usually. The WAMU situation seems to argue against any bail outs. The only folks hurt were the shareholders. As I see it the US banking system is in better shape today due to WAMU's failure.