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By Rick Pendergraft
Dear Reader,
As far back as Labor Day, I have been warning that it was going to be a tough year for the retailers.  Now we are seeing it play out to its fullest. The warnings signs were simple - a tightening credit market, a slumping housing market, and a negative savings rate in this country.
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The Last Honest Bank in America
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Thursday, 12 June 2008
US Banks' Losses
I’ve just uncovered the last honest bank in America…
While other major banks have reported billions of dollars in write-downs on cheap assets, the last honest bank in America put its money in true value and has even increased shareholder equity.

This bank is trading at just $20 per share. It hasn’t been beaten down.
It has a 2.6% yield… and is supported by a company run by the next generation’s Warren Buffett and Charlie Munger.

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World-famous value vultures are even gobbling up shares of this stock.

I’m going to release this next Safe Haven recommendation early next week. You don’t want to miss out.

Ann Sosnowski
Editor, Safe Haven Investor

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