Dominoes two months on - 2008-09-16 14:36:35
Washington Mutual, First Federal Financial, Bank of America (due to buying Countrywide for no apparent reason), Freddie Mac, Fannie Mae, all to follow...
Those were my expectation a couple of months ago, the current state it:
Washington Mutual - almost ready to stick the fork in: Washington Mutual cut to junk by S&P
First Federal Financial - gets not coverage, since it's just another Californian mortgage house...
Bank of America - bought Merrill to make matters worse yet, is too big to fail though: Bank of America shares slide on Merrill deal
Freddie Mac - nationalized by the socialists running the US, since it was too big to fail
Fannie Mae - nationalized by the socialists running the US, since it was too big to fail.