You are so right STIL, everything is humming right along at BB&T, no write downs (yet), great mgmt team, superior positioning for the future, not sold, not MOE, all the same leadership still at the top after 30 years. Its all good, and I am proud to se how well their stock has performed over the past 3-4 months and over the past decade, it certainly reflects a strident adherence to their stated goal of "long term shareholder value," I could not think of a better stock to own, thanks for your great insight and wisdom.......it will be a great stock to own, once its assets are managed by somebody else.
HSBC Mortgage Takes $3.4B Charge in US AP Posted: 2007-11-14 06:48:29 LONDON (AP) - HSBC Holdings PLC will take a $3.4 billion charge against third-quarter profits because of accelerating losses at its HSBC Finance Corp. mortgage business in the United States, the company said Wednesday.
That is $1.4 billion (960 million euros) more than expected based on first-half trends, and the bank said it was shutting another 260 branches in the U.S. consumer finance division.
Bear Stearns Taking Additional Writedown By STEPHEN BERNARD,AP Posted: 2007-11-14 09:39:03 NEW YORK (AP) - Investment bank Bear Stearns Cos. will take a $1.2 billion writedown in the fourth quarter related to weakness in its credit portfolios, Chief Financial Officer Samuel Molinaro Jr. said Wednesday.
Molinaro said the writedown will lead the company to post a loss during its fiscal fourth quarter, which ends Nov. 30.
Molinaro, presenting at the Merrill Lynch Banking and Finance Conference in New York, said Bear Stearns latest round of writedowns should "suffice" in accurately valuing products such as subprime mortgages and collateralized debt obligations. The $1.2 billion writedown is net of any hedging gains, Molinaro added
It appears you have mastered the cut and past function on your computer....congrats!!! Now try and master your bowl of oatmeal in the morning. By the way, I was a little curious on your post, what does HSBC, CIti, etc. have to do with BB&T's 10 year track record and current price collapse? That's a tough one...let me think....NOTHING.