Something to Bank On

I've been listening and reading to many media sources about the status of the banking industry and quietly wondering, "When will it be safe to get back into the banks?" Obviously, safety is paramount, which is why I found a recent list in the February 4th issue of Businessweek so interesting. Moody's rated the odds of a rescue for certain banks if they ever got into a bind and the list is (Read: Bank and Chance of Government Support)

1. Bank of America/Very High (70% to 95%)

2. Bank of New York/Very High

3. Citigroup/Very High

4. JPMorgan Chase/Very High

5. State Street/High (50% to 70%)

6. U.S. Bancorp/High

7. Wachovia/High

8. Wells Fargo/High

9. SunTrust Banks/Low (up to 30%)

10. Washington Mutual/Low

In my opinion the banks will continue to be weak performers in the near future, however there will always be good/bad times and I believe with the yields (even though they have decreased in some instances) will be better long-term investments.