just on CNBC: These banks have fallen 100% + since their 52 week highs. They are not penny stocks or even single digit stocks if they survive, and most will. They are the buy of a lifetime at these prices.
I didn't think the closings were that bad. Pontiac (the city for you out of towners not the car brand)got taken out and so did the willow run plant but does Ann Arbor really need to make cars anymore? No they diversified long ago now its time for the rest of the state too.
As for 90 day lates they are out of control but you have to look at the bright side as well. People need to let the houses go, yes it messes up there credit but they can buy twice the house for half the dollars now. The banks screwed up now people with good credit are forclosing, some of whom can afford their houses and that screws them.
Everyday another group forecloses and CRBCs deposit base goes up in value and the banks holding all the mortgages value drops further. viva CRBC.
there are private things going on. we're in a dark spot here because no one is sure of the fall out from the gm c11. i heard today about the closings and it was severe. mich unemployment could go to 15-18%, were i'm at it's 22%.
i don't thing we are far from social problems this summer. The grocery stores have 1/2 the people in them, the 90 day late payments are climbing. Used auto parts are in demand.
Don’t like to be critical of fellow posters, but when they use the current government’s math theories, I have to point it out. When a stock goes down 100% it is worth 0. Last time I looked, CRBC was @ 1.12. Which is well above 0. LOL Best of luck all.
This stock will bounce back to 1.50 and 2 per share at least 2 more times before this cycle ends. I will just ride the waves I said this stock would be a buy at 1.30 looks like i was a little to optimistic. I still haven't bought but I think I will still be right on the timing the new low will be after gm bankruptcy but be careful there may be a quick rally on this news as well just for getting over it.