Report: Wells Fargo and U.S. Bank safest in U.S.

[PBS Poll-435]

Report: Wells Fargo and U.S. Bank safest in U.S.

Minneapolis / St. Paul Business Journal
Friday, March 6, 2009, 11:19am CST | Modified: Friday, March 6, 2009, 11:43am


Wells Fargo & Co. and U.S. Bancorp are the two safest banks in America, according to an analysis of the world's banks.

According to Global Finance, which will publish its analysis, “World’s 50 Safest Banks” in its April issue, international banks dominate the rankings, which show the effects of the subprime mortgage meltdown and credit crisis brought on by large Wall Street players. San Francisco-based Wells Fargo is the top-rated U.S. bank at No. 21. European banks now dominate the rankings, with only four U.S. banks among the listing.

Wells Fargo (NYSE: WFC) is followed by US Bancorp (NYSE:USB) at No. 26, The Bank of New York Mellon (NYSE:BK) at No. 35 and JPMorgan Chase & Co. (NYSE:JPM) — which has merged with Washington Mutual Inc. — at No. 47.

The listings compare long-term credit ratings and other performance measurements and assets.

[liberal N proud]

1. Get your money out now

Sure as this report is published, these banks too will fail.

[Donnachaidh]

2. who owns Global Finance?

Seriously, who owns the company doing the analysis?

[PBS Poll-435]

3. Looks to be more independent than Money or Fortune

Global Finance Magazine entry at Wikipedia

[LSparkle]

4. I was upset when my bank was bought out by US Bank ...

Now -- not so much (!).

[tekisui]

5. For now.....

[HiFructosePronSyrup]

6. I was shopping at the grocery store the other day...

and the cashier stopped me and asked me if I was using any debit cards.

"Yes."

"From which bank?," she asked.

"Bank of America."

"Oh, that'll work. Citi and Wells Fargo debit cards just stopped working. It's made a real mess of work today."

"Really?," I asked, "is that because of some electronic problem, or something to do with banks failing?"

"I really don't know. But I think it's got something to do with the banks failing."

So... Wells Fargo is doing OK?

[PBS Poll-435]

8. Odd.

Probably an interchange was down. Did she mention if it was Debit (with a PIN) or Visa/Mastercard ("Credit" with signature req'd.)

[Ernesto]

7. Put your money in a Financial Credit Union

No failures there, and they have their own form of FDIC.