CASCADING FINANCIAL EFFECTS FROM BP MELTDOWN

June 14/2010-2:06 AM EST.
   By : Isaac N.

The following was spotted last night on the Yahoo financial boards...

      *****
I have provided you a list of financial institutions that will have to sell their other assets because of the BP fall-out and bankruptcy, thus causing a huge market sell-off contagion.

Enjoy folks, here's the list:



1.) WELLINGTON MANAGEMENT COMPANY, LLP 34,841,626 1.11 $1,988,411,595 31-Mar-10
2.) BARROW, HANLEY MEWHINNEY & STRAUSS, INC. 16,700,677 .53 $953,107,636 31-Mar-10
3.) BANK OF AMERICA CORPORATION 13,911,165 .44 $793,910,186 31-Mar-10
4.) STATE FARM MUTUAL AUTOMOBILE INSURANCE CO 13,052,048 .42 $744,880,379 31-Mar-10
5.) PRICE (T.ROWE) ASSOCIATES INC 12,442,139 .40 $710,072,872 31-Mar-10
6.) MORGAN STANLEY 11,224,852 .36 $640,602,303 31-Mar-10
7.) FMR LLC 7,854,986 .25 $448,284,051 31-Mar-10
8.) WELLS FARGO & COMPANY 7,768,541 .25 $443,350,634 31-Mar-10
9.) Tradewinds Global Investors, LLC 7,436,248 .24 $424,386,673 31-Mar-10
10.) GATES (BILL & MELINDA) FOUNDATION 7,133,000 .23 $407,080,310 31-Mar-10
----------------------------------------------------- -----------------------------
Mutual Funds
---------------
1.) VANGUARD/WINDSOR II 9,784,515 .31 $549,106,981 31-Jan-10
2.) VANGUARD SPECIALIZED-ENERGY FUND 7,867,800 .25 $441,540,936 31-Jan-10
3.) VANGUARD/WELLINGTON FUND INC. 7,136,000 .23 $379,706,560 28-Feb-10
4.) FIDELITY DIVERSIFIED INTERNATIONAL FUND 6,650,000 .21 $353,846,500 28-Feb-10
5.) PRICE (T.ROWE) EQUITY INCOME FUND 3,698,700 .12 $211,084,809 31-Mar-10
6.) VANGUARD/WELLESLEY INCOME FUND 3,572,300 .11 $207,086,231 31-Dec-09
7.) American Beacon Large Cap Value Fd 2,153,900 .07 $122,923,073 31-Mar-10
8.) FMI LARGE CAP FD 2,146,000 .07 $122,472,220 31-Mar-10
9.) PRICE (T.ROWE) NEW ERA FUND 2,114,473 .07 $120,672,974 31-Mar-10
10) PUTNAM EQUITY INCOME FUND 1,697,000 .05 $90,297,370 28-Feb-10


And this does not include all the hedgfunds that own BP and its debt plus the ETF's that include BP and its corporate debt.

BP will trigger a sell-off that would put market in double dip or territory.

Its going to get ugly folks and remember this time, there is no saving the banks that fail.
______________

BP. 2 BP executives sit on the board of BAE, a defence contractor with ties to the US, UK, and the Kingdom of Saudi Arabia(KSA). The second biggest voter in BP is Legal and General Plc. Who has money funneled into it throught an Egyptian bank called CIB. CIB has offices in Kuwait, UAE and KSA. Connect the dots.

Source : yahoo financial board, just go there..