7/15    Nouriel Roubini feels a great disturbance in the Force:
        This is by far the worst financial crisis since the Great Depression.
        Hundreds of small banks with massive exposure to real estate (the
        average small bank has 67% of its assets in real estate) will go bust.
        Dozens of large regional/national banks (a la IndyMac) are also
        bankrupt given their extreme exposure to real estate and will also go
        bust.
        Some major money center banks are also semi-insolvent and while they
        are deemed too big to fail their rescue with FDIC money will be
        extremely costly.
        In a few years time there will be no major independent broker dealers
        as their business model (securitization, slice & dice and transfer of
        toxic credit risk and piling fees upon fees rather than earning income
        from holding credit risk) is bust ...
        \_ Young Padawan, you have obviously never lived through a real
           recession. My WFC is up 25% today, BAC up 10%, KRE and KBE up
           recession. My WFC is up 33% today, BAC up 22%, KRE and KBE up
           almost as much...