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State of the States 20 Nov 2009
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Jul.15

11:24 AM ET

Tuesday, 15 Jul 2008

RBC Capital And The Bank "List" It Says It Never Had

Posted By:Jane Wells

Companies:Flagstar Bancorp Inc | PFF Bancorp Inc | Downey Financial Corp | Fremont General Corp

RBC Capital Markets Logo
I reported yesterday that "RBC Capital has a list of 300 banks that could POTENTIALLY fail." The firm responded that it does not have a list, but instead believes up to 300 banks could fail over the next few years, and maybe not even anywhere near that.

I also named five banks which could be at risk, based on RBC analyst Gerard Cassidy's "Texas Ratio"--Fremont[FMT Loading... () ], Downey Financial[DSL Loading... () ], PFF Bancorp,[PFB Loading... () ] AmTrust (CORRECTION MADE), and Flagstar[FBC Loading... () ].

Cassidy and RBC point out they did not actually name these banks. I got those names from analysis forwarded to me by RBC which was done by SNL Financial. SNL named the names, not RBC, and RBC wants you to know that.

Such are the times we live in. As with Dick Bove's "clarification" (see my earlier post), analysts may be feeling some heat. No one wants to be accused of bringing down a bank or being called the "next Chuck Schumer." On the other hand, if certain banks are in on the brink, wouldn't you want to know which ones?

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