Thursday, February 19, 2009

Regional Bank Decline Worsens....

ZION
STI
FITB
RF
HBAN
BBT
MI
CMA


I have written in the past that the options activity currently in these portended imminent disaster and insolvency.

Unfortunately, these banks are not shortable as there is no stock borrowing of these securities any where on the street. But you can buy puts that are obviously very expensive.

With the way the markets are trading, it is for sure that a partial Bank Nationalization Plan is under way to roll up the following institutions:

BAC
C
WFC
USB
STI

The rest might have to file for some sort of pre-packaged bankruptcy.

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