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    « A Personal Update | Main | The Jonas Brothers at the Pond »

    July 14, 2008

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    Petes2cents

    Now that IndyMac is the first of many banks to fail, I think we're going to see a lot more banks, not only close for the weekend, but close for good and go bankrupt. Rumors talk about 90+ banks, I think that's a little exaggerated, but very well possible. I would guesstimate around 30+ banks will close shop.

    I'm an investor in the stock market and have started to build a position in Bank of America. One of the few 500 lb. gorillas left in the room. Every dip, I pick up more shares. I don't think there going anywhere, but you never know. Investments are all risky.

    I never thought I would see this happen here in the USA, but here we are....let's all cross our fingers.

    petes2cents.com

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