Better Than Expected Losses — Say What?

Posted by John Park on Jul 24th, 2008
Jul 24

Indymac Window Letter


Isn’t that a funny phrase?  You’re a loser but just not that much of a loser.  This is the new BUZZ phrase being utilized by analysts all over Wall Street.  As one major company after another reports their 2nd quarter earnings, it’s almost too frightening to watch.
The HITS keep on coming!

INDYMAC BANK — Read the letter in the window please.  Sorry… those of you who had more than 100K in this defunct bank.

WACHOVIA — $9 Billion Dollar Loss, WOW

WASHINGTON MUTUAL — $3.3 Billion Dollar Loss, CEO says give me another shot

NATIONAL CITY — $1.8 Billion Dollar Loss, Should have stayed in the Mid-West

MERRILL LYNCH — $4.9 Billion Dollar Loss, Got a stock tip?

FORD — $8.7 Billion Dollar Loss, Largest EVER in its history

GM — I am too scared to look.

Who is making money???
Don’t expect miracles from either Obama or McCain.  We’re in this for a while yet.
Thank GOD we still have small businesses holding up the U.S. Economy!


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