Kevin, it is hard to tell which bank will be next. IndyMac was the 2nd largest bank failure in US history. The Feds took closed the bank about two weeks ago.
Washington Mutual is one of the largest banks in the country and it is in terrible trouble.
Citigroup (Citi Corp) lost 10 billion dollars in one quarter.
Lehman Brothers lost over 4 billion dollars in one quarter.
What surprised me is the fact that Morgan Stanley/Chase was allowed to take over Bear Stearns with the help of the government. MSC has over 2 trillion in derivatives and added to that when the takeover took place.
These are the largest banks in the country and all are drowning under a sea of sub-prime loans and derivatives. I tried to tell everyone about these banks in January but what I cannot tell anyone is in what order the collapse will take place.
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