Thursday, October 9, 2008

Banking Crisis

February 2, 2007: Metropolitan Savings Bank Taken over by: FDIC
September 28, 2007 :Netbank Taken over by: FDIC
October 4, 2007 : Miami Valley Bank Taken over by: FDIC
January 25, 2008: Taken over by: FDIC
February 22, 2008 : Northern Rock Acquired by:British Goverment
March 7, 2008: Hume Bank Taken over by:FDIC
April 01, 2008: Bear Stearns Acquired by: JPMorgan Chase
May 9, 2008: ANB Financial Taken over by: FDIC
May 30, 2008: First Integrity Bank Taken over by:FDIC
July 1, 2008: Countrywide Financial Acquired by: Bank of America
July 11, 2008: IndyMac Bank Taken over by: FDIC
July 14, 2008: Alliance & Leicester Acquired by:Banco Santander SA
July 25, 2008: First National Bank of Nevada Taken over by: FDIC
August 1, 2008: First Priority Bank Taken over by : FDIC
August 22, 2008: The Columbian Bank and Trust Company Taken over by: FDIC
August 26, 2008: Roskilde Bank Acquired by: Danish Central Bank
August 29, 2008: Integrity Bank Taken over by: FDIC
September 5, 2008: Silver State Bank Taken over by: FDIC
September 8, 2008 Derbyshire Building Acquired by: Nationwide Building Society
September 8, 2008 Cheshire Building Society Acquired by: Nationwide Building Society
September 14, 2008 Merril Lynch Acquired by: Bank of America
September 16, 2008 American International Group Acquired by: United States Gov
September 17, 2008 Lehman Bros Acquired by: Barclays Plc
September 18, 2008 HBOs Acquired by: Lloyds TSB
September 19, 2008 AmeriBank Taken over by: FDIC
September 26, 2008 Washington Mutual Acquired by: JPMorgan Chase
September 28, 2008 Bradford & Bingley Acquired by: Banco Santander and British Gov
September 28, 2008 Fortis Acquired by: Netherlands Gov and BNP Paribas
September 29, 2008 Wachovia Acquired by: Citigroup or Wells Fargo
September 30, 2008 Dexia Acquired by: Belgian, French and Luxembourg Gov
October 7, 2008 Landsbanki Acquired by: Iceland Gov
October 8, 2008 Glitnir Acquired by: Iceland Gov
October 9, 2008 Kaupthing Bank Acquired by: Iceland Gov
Who's NEXT?

Investing Idea: Buy The Banks who Acquired Other Banks! ( Like JP Morgan, Wells Fargo, BOA)

These Banks will only emerge stronger after this crisis due to lesser competition. Furthermore, if they can afford to buy, they should be safer to buy, isn't it?



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