By looking at the stock - looks like it could be our first large national bank to go bankrupt. Not saying it will, but it's trading like a stock heading for bankruptcy. If you have an account with them, it might not be a bad idea to "diversify" your banks, at least until all this blows over.
News is, they are seeking an emergency capital infusion. I'm surprised this is not the big headline for the day. Jobs report was bad, but this could be much worse near term.
My assessment? It's probably going to be fine - 99% chance nothing happens. But we've seen enough black swans recently that all scenarios need to be given credence. Northern Rock was bailed out by the Bank of England right?
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