[NoWorries]

link
$this->bbcode_second_pass_quote('', 'N')EW YORK (Reuters) - U.S. banks may fail in far greater numbers following the collapse of the big mortgage lender IndyMac Bancorp Inc (IMB.N: Quote, Profile, Research, Stock Buzz), straining a financial system seeking stability after years of lending excesses.
More than 300 banks could fail in the next three years, said RBC Capital Markets analyst Gerard Cassidy, who had in February estimated no more than 150.

Banks face pressure as credit losses once concentrated in subprime mortgages spread to other home loans and debt once-thought safe. This has also led to investor worries about the stability of mortgage finance companies Fannie Mae (FNM.N: Quote, Profile, Research, Stock Buzz) and Freddie Mac (FRE.N: Quote, Profile, Research, Stock Buzz); IndyMac is not related to either.
While analysts declined to say which banks will fail next, several smaller lenders and one large one, Washington Mutual Inc (WM.N: Quote, Profile, Research, Stock Buzz), appear already to have elevated levels of soured loans, relative to their sizes.

[PenultimateManStanding]

$this->bbcode_second_pass_quote('NoWorries', 'L')ook for Washington Mutual to go next.

[Vogelzang]

Did you see this article linked to the one you posted? link

[jasonraymondson]

$this->bbcode_second_pass_quote('PenultimateManStanding', '')$this->bbcode_second_pass_quote('NoWorries', 'L')ook for Washington Mutual to go next.

[cannedsalmon]

Which are two banks that will not fail?
Is there a list of the ones expected to fail?
where can we see all 300 of them?

Will Marsha marry Atu?
Will the billy-bob twins catch the fish of the day?
Stay tuned.

[PenultimateManStanding]

$this->bbcode_second_pass_quote('jasonraymondson', '')$this->bbcode_second_pass_quote('PenultimateManStanding', '')$this->bbcode_second_pass_quote('NoWorries', 'L')ook for Washington Mutual to go next.

[seldom_seen]

$this->bbcode_second_pass_quote('PenultimateManStanding', 'I') think we could be in serious trouble by 2040.

[TommyJefferson]

"Jeff Chen, an IndyMac Bank customer, reacts to a notice that a Pasadena, Calif. branch is temporarily closed, Friday, July 11, 2008. IndyMac Bank's assets were seized by federal regulators on Friday after the mortgage lender succumbed to the pressures of tighter credit, tumbling home prices and rising foreclosures. The bank is the largest regulated thrift to fail and the second largest financial institution to close in U.S. history, regulators said."

[Eli]

Where is that thread about people getting that old sinking feeling?

We are so fooked. Bank failures, PO, general economic collapse.

[Vogelzang]

It could just be the short sellers spreading rumors again.

[PrairieMule]

$this->bbcode_second_pass_quote('jasonraymondson', '')$this->bbcode_second_pass_quote('PenultimateManStanding', '')$this->bbcode_second_pass_quote('NoWorries', 'L')ook for Washington Mutual to go next.

[eastbay]

I pulled some money out of a local suffering regional bank today thereby doing my part to make Jasonraymondson's dream of a quicker collapse come true.

At a tad over 2% interest on a long-term cd and 3%+ inflation, there's no point in keeping it in cash, so why not sleep on it (what I turned it into) instead.

Yup. I'm thinking we're going to see some banks fold and that means FED and FDIC intervention, which means printing more money, which means devaluation and inflation. Which means cash in banks has become a poor strategy. I mentioned many months ago that I thought it was wise to keep a certain nest egg in cash. That tactic failed when rates dropped below inflation. Things change. You must adapt. It's a fluid situation and getting moreso all the time.

[midnight-gamer]

$this->bbcode_second_pass_quote('', 'L')ook for Washington Mutual to go next.

[frankthetank]

Went to my local ATM to draw some money out, the ATM right in front the large main branch...

The piece of shit machine told me it had no funds at this time...

I'm going there tomorrow and drawing everything out. That bank has pissed me off before, but thats the last straw.

[TheDude]

Banks closing in Argentina, 2002:

[Fiddlerdave]

$this->bbcode_second_pass_quote('midnight-gamer', '')$this->bbcode_second_pass_quote('', 'L')ook for Washington Mutual to go next.