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| User Info | What are the safest Banks in So. Cal.?; entered at 2007-12-02 00:23:09 | |||
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Rad Posts: 377 Registered: 2007-08-27 The Yoga Mecca 
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Farmers & Merchants is a brilliant idea. Thanks. I've been racking my head about finding a safe bank in SoCal myself. I know F&M is a super conservative bank b/c they just declined a 9-unit deal I brought them-- 45% LTV, the borrower had $450k liquid assets, and two additional SFR were going to be crossed. That's the kind of bank I want to keep my $$$ in. LOL The thing about Wells being immune to a debacle they create b/c Buffet is a major shareholder is unfortunately a dream. I'm just finishing Buffett's biography by Roger Lowenstein, a riveting page-turner I highly recommend. Salomon Brothers, the only IB investment by Buffett, was his only debacle because Soli's chief Government bond trader thought he was invincible. Sound familiar? The Justice Department and SEC demanded that Salomon plead to a felony and in the end they paid $200 million in fines, the second largest penalty ever levered against a U.S. Securities firm. Buffett has owned and held his interest in Wells for a very long time, way before the ****bank era of this century. Last modified: 2007-12-02 00:23:54 by rad
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