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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: Cactus Jack who wrote (185333)2/20/2009 4:22:37 PM
From: energyplayRead Replies (1) of 306849
 
Wells Fargo very carefully avoided sub-prime, negative arms, 100% loan to value, and loans in the Inland Empire & Central Valley of California.

Then Wells buys Wachovia, which was a mostly okay bank, EXCEPT

Wachovia had bought Golden West, which is 95% pay option arms, and in Inland Empoire, etc.

Golden West is the poison apple.

Many of the Wachovia management are gone.

Wells buying Wachovia was with the guidance of Treasury - Wachovia went to Wells instead of Citibank.

So, the question is, what shape is Wells Fargo really in, and what sort of dilution will they take - minimal, or pseudo nationalization ?

I don't own ANY bank stocks.

Here's one person's take -

seekingalpha.com
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