Bank Runs - Tip of the Iceberg
Most of you know that IndyMac ate it over the weekend. And while this was surprising to a lot of people, we were discussing bank runs a while back. Today, a lot of bank stocks took a huge hit on the stock market.
Washington Mutual was the biggest loser, dropping over 30% of its value. But, if you take into account the recent private equity infusion that it received, that number is actually well over 50%.
Unfortunately, this is just the tip of the iceberg. Look for a lot more banks to fail in the near future.
Washington Mutual was the biggest loser, dropping over 30% of its value. But, if you take into account the recent private equity infusion that it received, that number is actually well over 50%.
Unfortunately, this is just the tip of the iceberg. Look for a lot more banks to fail in the near future.
posted by SalsaFix at 2:55 PM
