5 Signs Your Bank Is the Next IndyMac

Welcome to the Daily 5, our "Foolish" look at the business news you can use.

Banks look like the worst stocks in the world right now. Shares of Wachovia (NYSE: WB  ) , Washington Mutual (NYSE: WM  ) , and National City (NYSE: NCC  ) are in tatters. Not even Bank of America (NYSE: BAC  ) can get a salute. (Well, maybe one kind of salute.) Will your bank be next? Here are five ways to know if your thrift is the next IndyMac. Drum roll, please:

5. Your bank teller starts asking, "Do you want fries with that?"

4. The envelope stuffer in your next statement is for the "Save the Bank" fund.

3. Three words: Teller tip jars.

2. The ATM dispenses an IOU.

And the No. 1 sign that your bank is the next IndyMac ... Freddie Mac (NYSE: FRE  ) won't return its calls.

Call it gallows humor -- meant to disguise that we're as sick as you are about where the banking industry is now and where it's headed. A new study from Bridgewater Associates says bank losses could rise to $1.6 trillion from $400 billion today. Make sure to stock up on canned goods. And ice cream -- because, really, there's no such thing as too much ice cream.

See anything we missed? Have a different take? Post your thoughts in the comments box below. And then, when you're done, get your clicks with related Foolishness:

Neither Tim Beyers nor Dayana Yochim owned shares in any of the companies mentioned at the time of publication. Tim is a member of the Rule Breakers team. The Motley Fool's disclosure policy is so money.

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Read/Post Comments (3) | Recommend This Article (4)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

  • Report this Comment On July 16, 2008, at 3:26 PM, RichardWeed wrote:

    It took two of you to write a fluff article like that? Man, things are going downhill at Motley Fool as well. With stock prices in the tank like they are, it's a great time to watch for the survivors of this mess and make some sound investments while their prices are still low. Some advise in that direction would be more helpful than a top 5 list...

  • Report this Comment On July 16, 2008, at 11:25 PM, garygchen wrote:

    Worst piece from Motley ever.

    What a shame.

  • Report this Comment On July 17, 2008, at 1:48 PM, Trentbridge wrote:

    Really? how about the number one sign your bank is in trouble?

    1) A Senator from New York warns, in writing, the supervising Govt Agency that a bank in California MIGHT be close to failing!

    Over $1 billion disappeared when that hit the Pasadena newspaper.

    Thanks, New York!

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