I found a list of banks that have taken hits as a result of Lehman going bust. They have been weakened financially because of this. Here are some highlights:
ING Direct: $282 million (gross)
Wachovia: $494 million including some money markets
Wells Fargo: $249 million
Ameriprise Financial: $157 million including some money markets
Metropolitan Bank & Trust Co: $20.4 million
If you have money in any of these institutions please protect yourself, especially with Wachovia and Wells Fargo. Be prepared to withdraw all your funds, transferring to a bank without ANY derivitives exposure. (I closed out all my WF accounts two years ago for this very reason.)
◊◊◊◊ Now: Gold @ $872.00, Silver @ $12.15, USDX @ 78.10 ◊◊◊◊
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Filed under: Markets & Economy, Mayhem | Tagged: ING, Wachovia, Wells Fargo |
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