Posted To: The Garrett Watts Report
Garrett Watts Report Newsletter: January 25, 2010 The Dow Jones industrial Index had a good year last year, but how did the individual stocks do? Here’s how the top five and bottom five did. There are only two banks in the Dow: JPMorgan Chase, which was up 32.2% and BofA, which was up 7.0%. When banks fail, you know how a healthy bank will take over their deposits at ridiculously low prices? We’re on a list to get press releases from the FDIC, most of which we just skim, but we’re starting to see more and more bank failures where no one wants to take over the deposits. We just saw this with Barnes Bank in Utah. Other than because the deposits are unattractive for all the obvious reasons, we wonder what other dynamics might be in play such that the FDIC can’t find a [...]
Original post by C.M. "Corky" Watts, CMB
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