Due to FDIC ramping up bank closures of late, prices of pepperoni have skyrocketed. Costco has had reports from stores in the California, Florida and Arizona of stock issues.
Isn't Cramer almost on? Maybe he can reiterate his bottom call for financials. Perhaps he can even write "DSL" across his knuckles and say its going to 100.
Nice graphic on SD foreclosures. Putting on my CNBC anchor hat, it looks like that might be a bubble. A bubble of foreclosures. Those will have to fall back to earth soon, right? Just more signs that the housing market is stabilizing...
"Vineyard estimated that about $660 million of its nearly $2 billion in deposits are above those standard insured limits"
and
"Donald H. Pelgrim, Vineyard executive vice president and chief administrative officer, said customers with uninsured deposits or questions about whether their deposits are insured "should talk with their Vineyard representative or visit one of our branches."
As I read about another bank having issues, I'm glad to know its all "contained." In the Downey thread it was noted that Chevy Chase is in trouble.
I believe two more large bank failures would send us to the next emotional state. Oh... the Fall will do that anyway.
Let's see... Downey and Chevy. That would put both coasts into a Panic. I expect Wamu to survive a bit longer before they implode with a spectacular implosion.
Got Popcorn?
Seriously, Its getting very entertaining!
Neil
Now, how are they gonna do all that stuff that the FDIC told them to? Who would work for them who is competent? Shouldn't the FDIC try to get out ahead of the curve?
This is almost silly. Why bother to give warnings that now couldn't be heeded anyway?
What is needed here is for the money fairy to drop by. Riding a helicopter of course.
"Donald H. Pelgrim, Vineyard executive vice president and chief administrative officer, said customers with uninsured deposits or questions about whether their deposits are insured "should talk with their Vineyard representative or visit one of our branches."
I guess we know how this will end
Barley
I missed that. Could they shout any louder "run for the doors!?!"
Does the FDIC have enough money to handle all this? How soon before the FDIC is broke? I understand it has 70 billion that can be tapped, but 70 billion isn't very much these days.
The shorts are back
Effective Wednesday, naked short selling is fair game once again in the banking sector. This time, however, the financials may be spared.
(Don't bet on it.) The shorts are back - Aug. 11, 2008
Vineyard had a Texas ratio of 40 and Downey one of 89 as of 3/31/08. I presume both are in worse shape now. I'd sure like to see the 6/30 balance sheets soon.
More pizza!
With all this "growing concern," I'm long Prozac.
Sounds like the credit crisis is over.
"With all this "growing concern," I'm long"... Avodart
P.S. My nomination for Yahoo post of the day
Due to FDIC ramping up bank closures of late, prices of pepperoni have skyrocketed. Costco has had reports from stores in the California, Florida and Arizona of stock issues.
OMG. Foreclosures in San Diego still skyrocketing to new record highs.
Nemo, be honest, that was you right?
Nemo writes:
P.S. My nomination for Yahoo post of the day
Nemo | Homepage | 08.11.08 - 9:19 pm | #
What's the saying, "you don't have to outrun the lion, you just have to outrun the other guy?"
I'm contrarian, but not that contrarian.
Let me see, Vineyard... Vineyard... How does this
sound for a background track?
This is so bizarre.
Vineyard just opened a branch near my house. Actually, they may not even be quite open for business yet.
-zano
All these grim bank stories can mean only 1 thing... Time for the PPT TO JUMP ALL OVER THOSE FUTURES!
Perhaps they could merge Vineyard and Downey into IndyMac Federal FSB.
Might save on branch costs.
Isn't Cramer almost on? Maybe he can reiterate his bottom call for financials. Perhaps he can even write "DSL" across his knuckles and say its going to 100.
From the Grim Reeper of recession calling... "Harvard's Feldstein Says U.S. Dollar Has Further to Decline "
Harvard's Feldstein Says U.S. Dollar Has Further to Decline - Bloomberg.com
Perhaps they could merge Vineyard and Downey into IndyMac Federal FSB.
And they could call it "Vinny Mac Federal". Has a nice ring to it.
Nice graphic on SD foreclosures. Putting on my CNBC anchor hat, it looks like that might be a bubble. A bubble of foreclosures. Those will have to fall back to earth soon, right? Just more signs that the housing market is stabilizing...
"U.S. Dollar Has Further to Decline "
Over the long term I would certainly agree with that.
Good find Nemo, pure comedy....
This must be a bottom...
All contained...
..........
"significant doubt on our ability to continue as a going concern"
I've been long on concern for months. Was starting to wonder if I'd ever get back in the green on those positions.
"Nemo writes:
Sounds like the credit crisis is over"
Nemo Its all contained and manageable
I saw something earlier...what was the value of uninsured deposits? Was it $300?
dark pools of liquididty are swimming under the banks, lurking.....
undertakers, bring out your dead....
John Mauldin beens hinting at the solution...its a new asset class.
any students present?
How about a post on commodities and precious metals? They have gotten absolutely killed in the last month. Platinum has gone from 2050/oz to 1469/oz!
Actually NODs seem to be leveling off in SD County ... at 3200/month.
For the first time, I saw an ad for Vineyard CDs in the Sunday SD UnionTribune. 4.25% for a 6-month CD. Woohoo.
Oh I se the money shot:
"Vineyard estimated that about $660 million of its nearly $2 billion in deposits are above those standard insured limits"
and
"Donald H. Pelgrim, Vineyard executive vice president and chief administrative officer, said customers with uninsured deposits or questions about whether their deposits are insured "should talk with their Vineyard representative or visit one of our branches."
I guess we know how this will end
Stock market rocketing higher for the wonderful second half ? BUY BUY BUY!!
"A recession probably began in December or January and the economy may slow substantially in the remainder of the year, Feldstein said."
Isn't this all just peachy???
Does this mean that they aren't gonna
wait for failure Friday??
As I read about another bank having issues, I'm glad to know its all "contained." In the Downey thread it was noted that Chevy Chase is in trouble.
I believe two more large bank failures would send us to the next emotional state. Oh... the Fall will do that anyway.
Let's see... Downey and Chevy. That would put both coasts into a Panic. I expect Wamu to survive a bit longer before they implode with a spectacular implosion.
Got Popcorn?
Seriously, Its getting very entertaining!
Neil
Now, how are they gonna do all that stuff that the FDIC told them to? Who would work for them who is competent? Shouldn't the FDIC try to get out ahead of the curve?
This is almost silly. Why bother to give warnings that now couldn't be heeded anyway?
What is needed here is for the money fairy to drop by. Riding a helicopter of course.
For selected banking stocks in the Fall of 2008, pink is the new black.
"Donald H. Pelgrim, Vineyard executive vice president and chief administrative officer, said customers with uninsured deposits or questions about whether their deposits are insured "should talk with their Vineyard representative or visit one of our branches."
I guess we know how this will end
Barley
I missed that. Could they shout any louder "run for the doors!?!"
Got Popcorn?
Neil
"Could they shout any louder "run for the doors!?!"
LOL.
Yeah, between these guys and DSL...you have been warned.
Does the FDIC have enough money to handle all this? How soon before the FDIC is broke? I understand it has 70 billion that can be tapped, but 70 billion isn't very much these days.
The shorts are back
Effective Wednesday, naked short selling is fair game once again in the banking sector. This time, however, the financials may be spared.
(Don't bet on it.)
The shorts are back - Aug. 11, 2008
Vineyard had a Texas ratio of 40 and Downey one of 89 as of 3/31/08. I presume both are in worse shape now. I'd sure like to see the 6/30 balance sheets soon.
I'd sure like to see the 6/30 balance sheets soon.
The 6/30 CALL report is up for Vineyard. Is that what you were looking for ?
Whooooa...only, "2 Bears Online"
I think it went down something like this....
YouTube - Vineyard National lives to Die Another Day
Best I could do on short notice.