Sale of Financial Stock, Everything Must Go [?] Wednesday, September 17, 2008
The New York Times has a stark interactive graphic here showing the dramatic falls in market capitalisation of 29 US financial firms over the last 12 months up to Sept 12th 2008, prior to the weekend meltdown. On 9 October 2007, the firms had a collective value of $1.86 trillion - no longer.
Amidst the huge falls group, several firms stand-out for their resilience and marked contrast.
- Bancorp - down 1.1% to $57.8bn [$58.4bn]
- Wells Fargo - down 8.8% $113.2bn [$124.1bn]
- JP Morgan -down 11.7% $142.2bn [$161bn]