ich hab den Verdacht das die USA vor einem Banken-Run stehen.. die
Amis holen sich Bares ..deswegen marschiert der USD ..sie holen das
geld zurück nach USA..
WaMu earlier this week ousted its chief executive and announced a
deal with regulators, which essentially puts the bank on probation.
See previous story.
Earlier on Wednesday, Lehman Brothers
(LEH 7.25, -0.54, -6.9%) unveiled another $5.3 billion of
residential mortgage write-downs. That renewed concerns about
WaMu's massive mortgage portfolio.
"WaMu needs $10 billion in equity or quasi-equity to calm concerns
about credit quality," Egan-Jones Ratings, a rating agency that's
paid by investors rather than issuers, wrote in a note to clients.
"WaMu has $310 billion of assets and a market cap of merely $9.1
WaMu has been dogged by concerns about its viability following an
ill-timed expansion into subprime mortgages. The stock is off more
than 90% over the past year.
Bloomberg News on Wednesday reported potential acquirers of the
company this year have been scared off by new accounting rules that
would likely force them to write down the value of WaMu's mortgage
assets to market levels immediately after a deal.
Spreads on credit-default swaps on WaMu's debt widened by roughly
400 basis points to 2,200, according to Credit Default Research.
That's up from less than 1,500 basis points earlier this week.
I think thats exactly the panic right now. FDIC can't take them on
and an announcement of that nature would cause massive bank runs.
They have to print or issue more treasuries but the jsut balied fan
n fred so it looks AWFUL now. Nobody is there to buy up the
mess. I think the dollar moonshot right now is due to the fact that
all the smart depositors saw this coming(Buffet) and are scrambling
to get their hands on cash. If you knew the gov't didn't have the
cash to cover you now and you had to wait to pay your bills
wouldn't you race to get cash. I call it a hyperdeflationary event.
This is why physical gold and silver is selling like hotcakes but
is falling in dollar terms. Everyone wants dollars to cover right
now in case they can't withdraw from the bank.
You have to pay
bills somehow right. I recommend everyone getting cash to cover at
least one months worth of bills if not more. There are a lot of
stuffed mattresses right now!
Berkshire Unit to Phase Out Bank-Deposit Insurance
By Linda Shen and Erik Holm
Sept. 10 (Bloomberg) -- Warren Buffett's Berkshire Hathaway Inc.
plans to stop insuring lenders through its Kansas Bankers Surety
Cos. as U.S. banks fail at the fastest pace in 14 years.
The unit will no longer insure accounts beyond the Federal Deposit
Insurance Corp.'s $100,000 limit per depositor and $250,000 limit
on some retirement accounts, said Chuck Towle, a senior vice
president at Kansas Bankers. The company will exit the business
entirely over time, Towle said.
``Eventually, we aren't going to be covering any deposits in
banks,'' Towle said in an interview today.
The move reduces Omaha, Nebraska-based Berkshire's risk from bank
failures and will affect customers in 38 states. Eleven U.S.
lenders have been seized by state and national regulators this year
as mortgage markets collapsed. The FDIC counted 117 banks as
``problem'' lenders in the second quarter. The agency typically
doesn't say which companies are on its list.
Towle said there was no set period for phasing out the business and
wouldn't comment on existing relationships with banks. The Wall
Street Journal reported earlier today that the unit was scaling
back, saying the order came from Buffett.
...sieht düster aus