Credit Quality of banks

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katja328 Posted: Mon, Sep 8 2008 1:05 PM

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Does anybody know where I can find a rating of various banks' credit quality and their risks that they may or may not go under? Thanks!

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nick replied on Mon, Sep 8 2008 2:25 PM

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OPTION 1

http://www.bankrate.com/brm/safesound/ss_home.asp

http://www.bauerfinancial.com

Call the bank, ask for financial statements or check them out online. Ask about areas of operation (locally, regionally, nationally), and analyze any investment information you can find.

And check Google or Yahoo news to keep up on changes, writedowns, or other surprises.

OPTION 2

Become the customer of a bank like JPMorgan Chase or Citigroup that the government will not allow to fail. Of course, you'll be supporting the current predatory financial system (fiat money, shareholders of the Fed, creative mortgage securities, etc.), but you won't have to worry as much about your banks accounts disappearing.