New York Community Bancorp Inc (NYCB)

[NewJerichoMan]

So... what happens tomorrow? I mean besides more selling. I remember making a few shekels shorting Bank of Smithtown back in the day. That was easy because Brad Rock Sr. and Jr. were dip$hits who got aggressive at exactly the wrong time. I don't think NYCB's problems are credit risks per se. Did they buy a bunch of bad loans when they absorbed Signature? Maybe. But I suspect their problem is more financial regulations rather than poor loans.

In the end, the best play with Bank of Smithtown was waiting for it to hit bottom (~$2) and then getting bought out by People's United Bank (~$4). Hearing Mnuchin might be the stranger upon whom NYCB may have to depend for kindness.