July 14, 2008
By John Galt
Down 77 cents in that chart but $1 real time now. Think some people have finally put 2+2 together and realized that they held a similar, not identical, but similar portfolio to Indymac? It does not take rocket science to figure out that these bankster stocks are dropping for a reason.
For everyone’s sanity and sake, do not be a sheeple and pay attention to what is happening. Do not have more than the insured $100,000 in any one of these banks. And remember that when the government speaks, they have their own motivations and could not give a crap about protecting your best interests. Not during this ongoing crisis and not for the long term.
You are nothing more than a source of income for their folly. Remember that fact.
UPDATE: 1153 EDT
National City Halted…Ruh-Roh…
National City Issues Statement in Response to Market Rumors
Monday July 14, 11:58 am ET
CLEVELAND, July 14 /PRNewswire-FirstCall/ -- In response to market rumors, National City Corporation (NYSE: NCC - News) today issued the following statement:
“National City is experiencing no unusual depositor or creditor activity. As of the close of Friday’s business, the bank maintained more than $12 billion of excess short-term liquidity. Further, as a result of our recent $7 billion capital raise, National City maintains one of the highest Tier I regulatory capital ratios among large banks.”