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National City Plunges In Wake Of Bear Stearns' Fire Sale

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http://www.bizjournals.com/eastbay/stories.../17/daily6.html

National City is shopping itself around and the short list of potential suitors got even shorter following the March 16 announcement that JP Morgan Chase, a dominant bank in the Midwest now has its hands full with Bear Stearns.

San Francisco-based Wells Fargo is considered a potential acquirer of the troubled Cleveland bank that is struggling with bad loans.

Edited by crash2006

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I heard somewhere that Cleveland is the poster boy of the HPC in the United States so no wonder.

I saw this programme about Cleveland showing houses standing empty that had been stripped of materials from the outside and the bank wasn't even bothering to try and sell. Strangely, at that time, house prices according to the index had only dropped 10 percent. Go figure.

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I saw this programme about Cleveland showing houses standing empty that had been stripped of materials from the outside and the bank wasn't even bothering to try and sell. Strangely, at that time, house prices according to the index had only dropped 10 percent. Go figure.

Actually, yes, I think that's where I heard it. Newsnight.

Pretty shocking, showed the true folly of the banks red raw.

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i beening read about them make northern rock look like childsplay. 401k funds that have invested in BS have been hit, not good.

Edited by crash2006

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  • 293 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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