is RJBank a mild version of E*Trade Bank? sure, what it did is not as eggregious, but is growing CRE & resindential construction loans by 2.5x YoY is really prudent? this board is dead for now, but it might come alive soon
I would not classify it an ETFC but the bone head moves in REIT type investments will be a drag on earnings.
Nevermind the naysayers on here they don't understand.
Now here's the ironic twist. The damage done by subprime will probably force RJF into a takeover. The industry will lose many players and a massive consolidation will occur. Unfortunately I don't see anyone paying a huge premium at this time.
The hot capital is not there, they are in an 'undesirable' space and the industry sucks hence a buyout will lowball shareholders.