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A bank holding company, through its subsidiary provides a full range of commercial and retail banking services.
I have read their balance sheet and they have no bad loans on theirbooks - they did not participate in the sub prime loans or hedge funs.they are an extremely conservative bank and Gerald Lipkin has done a terrific job of running the bank.Unfortunately, your other large banks, such as Citi, Bank of America, Bear Stearns, Goldman Sachs, Morgan, Wachovia, participated in the Sub Prime and it backfired on them.I feel Valley National Bank is a blue ribbon pick!!!!
I heard Valley owned a lot of Fannie Mae. Do you know anything about this?
I too agree, Valley National Bank is a "Blue Ribbon Pick", and being brought down along with the Russian Roulette Run banks which did not make it - GREED IS THE ANSWER TO THE TOP EXECUTIVES WHO SHOULD BE PROSECUTED AND AT LEAST HAVE A TRIAL.SHAME, SHAME ON THEM! THEY NEVER THOUGHT OF THEIR STOCKHOLDERS, ONLY THEMSELVES!!!
I agree but the street seems to disagree. They are moving above 50 day average so will hold short on Caps.
VNB is one of the most shareholder banks in the US and a safe investment.
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