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Strategies & Market Trends : Value Investing
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To: E_K_S who wrote (32162)9/25/2008 11:03:41 PM
From: Madharry  Read Replies (1) of 78704
 
Of course I am biased but I dont see how gutting wm at this juncture and selling off assets and branches to jp morgan at a ridiculously low price makes any sense at all as a tax payer. I expect some high ranking regulator will be going to work for JPM soon enough in some capacity. I still say that once the details of the bankruptcy becoming known an offer for the whole bank might have been forthcoming. Now who is going to work off all these problem loans. whatever governmental agency it is will be overwhelmed pretty fast. now what about the next failure. Besides the shareholders and the preferred shareholder thats $30 billion in senior debt going down the tubes most likely. Its gonna be pretty hard for banks to sell debt or preferred shares now unless you are in the top 5 or 10. Its gonna be a long time before I put money in a US bank stock again. I think this may mark the end of the banking system as we know it.
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