It looks like you're using an Ad Blocker.

Please white-list or disable AboveTopSecret.com in your ad-blocking tool.

Thank you.

 

Some features of ATS will be disabled while you continue to use an ad-blocker.

 

Will WaMu Sell or Face Same Fate as Lehman Brothers

page: 1
2
<<   2 >>

log in

join
share:

posted on Sep, 18 2008 @ 02:06 PM
link   
The saga on the US financial institution meldown is not over next to face bankruptcy is MaMu.


The company has put itself up for sale and hired Goldman Sachs to explore a possible buyout. Washington Mutual has lost $6.3 billion in the last three quarters and was downgraded to junk status by Moody's Investors Service and Standard & Poor's. The bank has projected $19 billion of mortgage losses until 2011.

Last week, Washington Mutual said it expected to set aside $4.5 billion for credit losses in the third quarter, down from the second quarter's $5.9 billion, and that it expected to remain well-capitalized.


www.rte.ie...

Will this take away the some of the good fortune that has taken over the markets thanks to all the central banks infusions?




posted on Sep, 18 2008 @ 02:38 PM
link   
reply to post by marg6043
 


I vote no buy-out, no bail-out, WAMU is toast...
Seize your deposits in your teeth and flee, flee, flee...
That's what I think...but I have no inside information, I am merely ignorant and talkative...



posted on Sep, 18 2008 @ 02:40 PM
link   
I think WaMu is on its way down, too.

This is C-R-A-Z-Y! It's a spiral. Morgan Stanley and Goldman Sachs?



Morgan Stanley, whose stock fell 24.2 percent Wednesday, was considering a merger with Wachovia or another bank to help shore up its finances. Goldman's stock fell 13.9 percent Wednesday, and the firm had to rebuff speculation that it was seeking a capital infusion. Both shares were falling steeply Thursday.


It's like a house of cards...



posted on Sep, 18 2008 @ 02:42 PM
link   
I also heard that the FDIC is going to need bail out also as they are running out of money to back people's bank accounts.



posted on Sep, 18 2008 @ 03:03 PM
link   
The Fed. and Treasury are still in the process of creating a super dark-pool of Liquidity which rivals/surpasses the Private Equity Project Turquoise & Project Baikal....


It is clear to me that WAMU is an unintended victim



posted on Sep, 18 2008 @ 03:04 PM
link   
Yeah I heard about that new "entity" that is going to become an extension of the fed with its own governor onces the good for nothing congress pass the laws to be approved.

I guess this is the official fed taking over, will bush be the new governor when he retire?.



[edit on 18-9-2008 by marg6043]



posted on Sep, 18 2008 @ 05:45 PM
link   
It seems there are no bidders for them, they should be toast, but now.....this new entity they are talking about creating is a possible stick save.

Still I gotta tell you, while that is what pumped the markets today it has scary repercussions for our future. I may not get to post an in-depth on it till this weekend, but I honestly think our gov't has gone mad and the world as we know it is about to change big time.

[edit on 9/18/2008 by Relentless]



posted on Sep, 18 2008 @ 06:01 PM
link   
Okay, for now, they are basically "discussing" as one option to form an RTC - Resolution Trust Corporation. This would be an entity that basically will be a depository for all the bad paper being held by all the fiancial instituions to clean their balance sheets.

The problem is someone has to pay for this and so far this year we have been printing money like toilet paper. Yes, we will be the ultimate source of repaying that bad debt. Why is no one going to jail over what they have done to our country and the world??????

So Chuckie Schumer announces this "possibility" late in the day and the market shoots up like 400 points in like 45 minutes. Problem is....., oh it's just one of the things they are considering (not a done deal). Well, Schumers office starts getting barraged with calls from informed Americans to be confronted with "What the HEY" are you thinking, because this will sooooooooo damage the country, and here's where we stand now.

US Weighing Financial Crisis Plans


Stocks surged late in the afternoon after a report that the administration was considering creating a government entity patterned after the Resolution Trust Corp. created in the 1980s in the aftermath of the savings and loan crisis.

But the official, speaking on condition of anonymity because of the sensitivity of the discussions, said the talks have not narrowed to a single option.


So, we are not out of the woods by any means, and this trickery and and games has got to stop. By the way, this on the heels of the morning news reporting that Congress was just going to go into recess and leave this in the hands of Bernake & Paulson, cause they just didn't have a clue what to do about the mess (they still don't).

We're in trouble folks



posted on Sep, 18 2008 @ 06:04 PM
link   

Originally posted by marg6043
I also heard that the FDIC is going to need bail out also as they are running out of money to back people's bank accounts.


We need another round of stimulous checks.



posted on Sep, 18 2008 @ 06:19 PM
link   
Weel, here's the tally on Money Market Funds for Wednesday. A new record - 90 Billion in investor cash pulled out. Funds are going under.

]MM Funds - Wednesday 9/17

Everything is toast! WAMU should not be bailed out.



posted on Sep, 18 2008 @ 06:40 PM
link   
And, here ya go ladies *winks at BH & Marg* & gentlemen:

Morgan Stanley


The Federal Reserve has been active in encouraging the Chinese to invest in U.S. financial institutions and has even made it clear that it would look favorably upon a Chinese acquisition of a U.S.-based financial institution, sources said.


Yep - MS is chatting with a foreign country now. It's like the US has become a fire sale!

Can we say whore alert? Geez - what is this country thinking?



posted on Sep, 18 2008 @ 06:41 PM
link   
When the WaMu comes forward with not buy out because they are ones of those companies that the government careless like the lehman Brothers the markets will not be that happy about it.

I see the new found good fortune of today that to all the cash infusions coming out from all over the world going down the drain.

But then again I may be mistaken.

Relentless I think our nations leaders has gone insane at the expenses of the tax payer that can not longer stand the incredible burden that has been put upon our shoulders just so the rich and wealthy can keep feeding up the lies.

[edit on 18-9-2008 by marg6043]



posted on Sep, 18 2008 @ 06:44 PM
link   
Read this quote from CNBC. Jawdropping IMO.

Paulson may propose plan to take over bad debts

...regarding the RTC...



Such a move, according to its advocates, would allow banks to shovel bad debt off their balance sheets and allow the firms to go back to business as usual. It would also eliminate the need for individual company bailouts.


AND THE BEST PART



"This will bring real trust back into the market." Donald Marron, chairman of Lightyear Capital, said on CNBC. "It would free up real, spendable capital in these organizations. They can use that to make loans, to make transactions and to build confidence in the system. This is a confidence crisis."


Trust. By shoveling debt away. You're kidding, right?

(insert psychotic mom voice)

"There there - it will be ok..just put your debt here and we will make ALLLLL go away!"



posted on Sep, 18 2008 @ 06:49 PM
link   
Well, what I can't believe at this point is the stupidity of whoever is buying into this garbage news.

The market was tanking up and down all day, a rumor leaks out about an RTC, Schumer comes on the air and talks about it, like it's a done deal, and everyone seems to think it's worth a 400 pt pump? Then the market closes, and oh, wait a minute, maybe not.

People have got to stop feeding the animals at the zoo!(Our elected officials)



posted on Sep, 18 2008 @ 06:50 PM
link   
reply to post by ACEMANN
 


Can we the people of this nation be able to also "shovel bad debt away" like the elite in this nation?

Or this new "entity" as usual is for the benefit of those that are in higher up places.

Why are we allowing this to happen, why are we letting the fat rats run free and without debt when we the regular tax payer can not.

What kind of nation has we become.



posted on Sep, 18 2008 @ 06:50 PM
link   
BTW...check these guys out:


Ticker Forum

They are discussing the RTC in this thread - while the situation is no laughing matter, they are a riot and KNOW THEIR S#@*



posted on Sep, 18 2008 @ 06:51 PM
link   

Originally posted by ACEMANN

"There there - it will be ok..just put your debt here and we will make ALLLLL go away!"


Well, come on now ACEMAN, it works for me IF I CAN PUT MY DEBT IN THERE TOO!

What do you mean my debt is still debt? Hey - who's in charge here?



posted on Sep, 18 2008 @ 06:57 PM
link   

Originally posted by nine-eyed-eel
reply to post by marg6043
 


I vote no buy-out, no bail-out, WAMU is toast...
Seize your deposits in your teeth and flee, flee, flee...
That's what I think...but I have no inside information, I am merely ignorant and talkative...


First, Lehman never really failed.. they filed for Bankrupcy and then another bank decided to buy them out. Essentially, no one would broker a deal with them so they decided "they didn't think we would do it!" and once they did it, no doubt angry phone calls where made, emergency meetings, and low and behold a company that once tried to run away from them ended up buying them..

The proper people are being properly compensated.

AIG did the same, bankruptcy or ultra low loans to keep them afloat... Gov being a bunch of corrupt cowards decided it best to just give them the money..

Not just an American thing.

Did anyone know that Russia has closed down it's stock markets for the past 3 days because of high fears of an economic collapse?

Russia is pumping billions into their banks, and closing the markets so their stocks cannot collapse like Americans..

It's just a postponing of the sad events that must occur in the end..

WaMu will be sold off though, a nice offer no doubt, if not the Fed won't be letting them fail.



posted on Sep, 18 2008 @ 07:01 PM
link   
reply to post by Relentless
 


hehehe - so I wonder when we can setup an account at this bank too?? hopefully before christmas since I have a LOT of shopping to do !



posted on Sep, 18 2008 @ 07:03 PM
link   
I will love to dump my mortgage payments too, you know.

Anyway our nations is selling itself to anybody that will want to take their stale goods.

Communist, feudal monarchies are not problem.



new topics

top topics



 
2
<<   2 >>

log in

join