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14 pts

Opinion on  U.S. Bancorp (USB)     Sector: Financial  >  Industry: Money Center Banks
Next risk is credit cards and commercial loans

Jul 31, 2008 06:08 PM UTC
Anything
Return Risk
+17.62% MID
Associate

Could be wrong, but seems this financial is trading near 2x book value, seems a little high in such risky times.  While USB has looked a lot safer than those banks exposed to low-end residential RE loans, if the economy gets worse credit cards and commercial lending will be at risk.  There's a chance USB is at a crossroads where the things that have kept them looking good, may not look so good if this unemployment rate the gov't publishes keeps rising.


USB:  This call was made on 07/31/08 @ $31.0
Rating:   Negative   $31.0 (07/31/08)
Closed:   11/12/2008 @ $26.49 (+14.55% in 104 days)
Target:   $17.00 (-45.16%) in > one year


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Who voted on this idea?
thelauncher N/A 08/01/2008
Olive_baboon
nuncprolunch 65% 07/31/2008



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