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A Scintillating Friday Evening Open Thread

74
spidly8/14/2009 5:57:41 pm PDT

re: #48 3 wood

Uh-oh:
Colonial Bank Fails, Acquired by BB&T

Just so you know, this is a real bad thing to have go happen, especially after the MSM has announced that the recession is over and has been patting the Messiah on the back. Cant blame Bush for this one, with a straight face that is.

There are likely to be a lot of ripple effects from this. Colonial did a lot of lending in a lot of very complicated participation and down stream deals. Don’t be surprised to see other banks fold next week.

Bernanke has to be in the fetal position on a floor somewhere whimpering and calling for Mama.

Then there’s the Deutsche Bank assessment and all that toxic paper still out there that didn’t get bought up as promised.