Who'S Next?

Annu Kumar said:
http://www.fdic.gov/news/news/press/2008/pr08085.html?ref=patrick.net

FDIC i thought only had about 50 billion to cover this mess. Indy mac cost them 15 billion and now Washington Mutual. it is predicted that FDIC will atleast 150 billion since more and more banks will fail pretty soon. Will FDIC be in trouble also??
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yes FDIC could be in trouble, thats why they sold off WAMU to JPM, they didnt have enough to cover the loss
 
Actually they are in trouble. The Agency only had 45 Billion left and this mess is gonna cost 200 billion. ARMAGEDDON!!!!!!!!
 
Annu Kumar said:
Actually they are in trouble. The Agency only had 45 Billion left and this mess is gonna cost 200 billion. ARMAGEDDON!!!!!!!!
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yer right i think, coming to the GTG?
 
let's clarify... the reason wamu fell wasn't due to anything more than a 17 billion dollar run on the bank in a less than 2 week period...

Wamu turned down an $8 buy per share in march... Chase got a sweet deal yesterday... but I don't think the stroy is over yet, there are some pretty upset shareholders (myself included)... normally when a company is bought it's not bought from the fed..
 
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I'd Love to come Man, But I wish it was a little closer:( But anyways THANK YOU COME AGAIN:D
 
tidnab said:
let's clarify... the reason wamu fell wasn't due to anything more than a 17 billion dollar run on the bank in a less than 2 week period...

Wamu turned down an $8 buy per share in march... Chase got a sweet deal yesterday... but I don't think the stroy is over yet, there are some pretty upset shareholders (myself included)... normally when a company is bought it's not bought from the fed..
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that 17 billion is less than 10% of there deposits, they were losing money on bad bets and bad loans...that is why they went under, the company was not fundamentally sound...and JPM was just waiting in the wings to ripoff some more shareholders...JPM is a crook house, they always are in with the Govt, been that way from the beginning.
 
Wamu's lquidity has been a stable $50 billion... and although we have a huge chunk of bad mortgages/helocs wamu was a well diversified savings and loan...

I beg to differ, the 17 billion run on the bank was the reason it was taken over last night...

Guess where I work... :mad:
 
tidnab said:
Wamu's lquidity has been a stable $50 billion... and although we have a huge chunk of bad mortgages/helocs wamu was a well diversified savings and loan...

I beg to differ, the 17 billion run on the bank was the reason it was taken over last night...

Guess where I work... :mad:
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Didn't know you worked at WAMU. They were one of my clients. I think it was World Savings that they bought that made them one of my customers. Dealt with some folks out of Texas I think it was.
 
tidnab said:
Wamu's lquidity has been a stable $50 billion... and although we have a huge chunk of bad mortgages/helocs wamu was a well diversified savings and loan...

I beg to differ, the 17 billion run on the bank was the reason it was taken over last night...

Guess where I work... :mad:
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why then would a 34% decrease in available luiqidity be enough for the federal government to step in. your going to believe what the higher ups at the company that just F'ed you are saying?:dontknow:
 
BurntRubber said:
why then would a 34% decrease in available luiqidity be enough for the federal government to step in. your going to believe what the higher ups at the company that just F'ed you are saying?:dontknow:
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touche'.... I have some visibility to our numbers... and we are diversified a lot more so than countrywide was...
 
tidnab said:
touche'.... I have some visibility to our numbers... and we are diversified a lot more so than countrywide was...
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i think it has more to do with JPM being in bed with uncle sam...been that way since the 1907 crash!
 
wamus portfolio consisted 75% of Option arm Mortgages that went toxix and still are going toxic. They got reckless Like Indy amc and Countrywide
 
the reason there were more crashes and panics back in the day was due to the dollar being tied to something tangible (gold)...so the earthquake in san francisco in 1906 had a huge economical drain becasue they couldnt just print more money, they had to work there way throguh the trouble...they also had less inlfation.
 
BurntRubber said:
the reason there were more crashes and panics back in the day was due to the dollar being tied to something tangible (gold)...so the earthquake in san francisco in 1906 had a huge economical drain becasue they couldnt just print more money, they had to work there way throguh the trouble...they also had less inlfation.
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Cmon Man the Government Can print as Much money as they want!!!! Money can be printed and be pumped back into the economy. The Government Can do it
 
Annu Kumar said:
Cmon Man the Government Can print as Much money as they want!!!! Money can be printed and be pumped back into the economy. The Government Can do it
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They can, and do, now. Back in the day they couldn't. Cash was limited to what could be backed. Now it's just vaporware.
 
This My Suggestion:

1. Take foreclosed properties out of the market - (reduces inventory.)
2. They should "suggest" that banks offer 30-year fixed mortgages at 4% for
one year.
3. When the real estate market rebounds, sell the properties at a profit.
4. Return the money to the taxpayers, rather than to earmarks!
5. Cancel all golden parachutes for failed companies.
6. Place a one-year moratorium on foreclosures of those who can afford 4%.
mortgages as part of the "negotiations" for the bailout. Keeps inventory
levels manageable.
 
Does anyone know how QUICKEN LOANS is doing? Being from Northeast Ohio and a HUGE fan of the CAVS.. you know that Dan Gilbert is probably taking it ITA...
 
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