Thanks for the post and the link. In another subject posting Dry and I had a discussion about financials and fourth quarter profits. Whether they would be high as the markets today are pricing in or not. Market watch has a post about how investment banks, with leverage of 30:1 would be selling assets hurting their Return On Equity and future profitability. Along with the article, some comments beneath are quite good.
You and your cohorts ought to realize that there are over 7000 banks that trade and the majority have no sub-prime, derivatives or other toxic loans on their balance sheets and most will do just fine. Look at BBT as an example - they have had to write off very little (not like BAC, Citi, WB).
Even given the write offs by larger banks none appear to be on the FDIC watch list. Of the 80 on that list it appears all are smaller community banks. You can post all the doom and gloom links you want - the banking industry appears to be in better shape than during the late 80s and early 90s with the S&L meltdown (and the Govt bailout).
IMO - for the average bank consumer debt may pose a bigger risk (if we get a nasty recession) than the current mortgage mess.
Having said all this - WTF does banks have to do with QID. How about posting on topic?
I thought this "look back" over a scant 12 months ago was a good read. When you realize that the "go-go-go" economy of 2007 has blown up and compare where the indices are today against that time, you can't help but wonder why...