Mad Mail: The Bank with the Strongest Capital Position
Jim: My dad & I love your show. Thank you, and your staff, so much for your hard work and top quality contribution to us small (but getting larger) investors. We've been following your suggestions regarding strong regional banks that may benefit from the FDIC selling the deposits of troubled banks to these healthier competitors. Months ago you mentioned People's United Financial as a play on this theme, comparing it to the Fleet Street story from the past. Do you think PBCT is still in the top tier of this play, or is there another bank that’s in a better position? – Alice
Cramer says: No, it’s great. Other than New Alliance . You see, we are going to have another hundred more bank failures, it just so happens they’re all concentrated in the states that had the most loose regulation, particularly Georgia and Illinois, but they’re going to work their way east and PBCT is the strongest capital position of any bank in the country. That’s saying something.
Jim: Good to see the interview with Shaw Group’s CEO and hear some positive discussion about nuclear generated electricity. Not much that I disagree with since I worked in the nuclear industry for 28 plus years. If you ever create a "nuclear portfolio" similar to your mobile Internet portfolio, what do you think of Flowserve as one of the first additions? They are one of few companies that have maintained the qualifications to supply products that meet the rigorous certifications required in the nuclear industry. What are your thoughts? - B.B.
Cramer says: Flowserve is an excellent company, but I also like BGC . Let me be clear, I would not start this index. Why? Because I am not a believer that this administration supports nuclear power. If I ever hear the President say Natural gas or nuclear power in a speech, I will change my mind.
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