Monday, July 14, 2008

Banks in the Danger Of Failing Says Landenburg Thalmann's Bove

Richard (Dick) Bove or Landenburg Thalmann has compiled a list of banks he considers "in the danger zone" for failure. He started with a list of 107 banks with assets over $5 billion which represents about 79% of total industry assets at nearly 8,500 US thrifts and banks.

Here is Dick Bove's List of Banks In Danger of Failing

Somehow I deleted my list that I wrote down while watching CNBC. I rewrote the article here when I found the list elsewhere.

I can't say this enough: We recommend you have all your CDs in banks have FDIC insurance:
  • DO NOT EXCEED FDIC limits to get the top rate.
  • If you have more than the FDIC limit, then spread your money between many banks and accept a lower return so that each separate account at each bank has FDIC insurance.

You are not being compensated for the extra risk of bank failure to have more than the FDIC limit for accounts.