ANSWERS: 6
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Unfortunately i have preferred stock in 6 of the ones that you mentioned. What they have in common is that they overpay all their loan officers and executives. There was a day when a person could invest their money and get a return equal to inflation. A 6% return would be required for a person's money to keep it's value. Anything less, a person's money is decomposing. I lost $10K in Lehman Bros., and the others are way down. I stand to lose a total of $160K in financial institutions.
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I know that Bank of America and Bank of America have everything in common. ;)
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They all have massive amounts of credit default swaps on their balance sheets. Do some research on them, they are really really scary things. Here is a good start:
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They were all in bed with one another, to one degree or another. B of A bought Merrill Lynch. JP Morgan Chase bought WaMu. Citigroup was arm-wresting with Wells Fargo for Wachovia..Lehman brothers was bailed out by the government..AIG still is planning "getaways" for its people, despite the failure of its "bigshots" and despite the huge golden parachutes/salaries they were awarded..Goldman-Sachs? Don't know their story. I probably missed your entire point, Scott. Anyway, Happy Monday! :)
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They were all in the sub-prime mortgage market and had to endure significant write offs of bad debts....along with many other banks around the world. This article has a chart. http://marshandassoc.blogspot.com/2008/09/subprime-mortgages-and-economyyikes.html
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Greedy -vampires- bankers. My 2 cents.
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