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I was born in 1961 and I lived through many of the bad times that you described. I just talked to my brother the other night and I was semi-serious when I said that I am not ready to stand in soup kitchen lines like the 1930's.

Some people do not think we are teetering on the edge but a lot of information that I am pulling in says that we are. I just hope we don't go over the precipice. It would get ugly.

I just talked to my banker this morning. I told him DSL Downey Savings is next then Wachovia. He told me Wachovia was ok. He told me he worked for Wachovia for 10 years and is also a broker for AIG. He was sort of shocked by AIG and Lehman brothers. He is in dismay over Washington Mutual.

He basically agreed with me that if this plan they are arguing over in congress does not go through that Wachovia will go down. He estimates that maybe 100 banks will fail if some type of emergency action is not taken soon. He also says FDIC can not possibly cover all the bad things that would happen thereafter. Take that for what it is worth. It is just one guys opinion but a guy who works in the industry.



Rob S
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