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Originally posted by Mainer
Originally posted by sos37
As of 1:29 p.m. CST the Dow was UP 30 points, not down. In fact, it has not been down anywhere close to what was predicted (300 to 400 points I believe on the 2nd page). And a deal on the bailout still has not been reached.
This should make you more nervous. Either persons on Wall Street are getting fed insider information that we do not have. Or the market is behaving completely irrationally. By all logic and understanding the markets should have been tanking today, futures pointed to it, common sense pointed to it. The Nations largest bank failure occurred just before this trading session. The capital markets are completely dry.
The market is either being manipulated or has lost all grounding. Either is a bad thing.
TextMorgan is an elitist and the next big thing will be a bank "holiday" and when they reopen you own pennies on the dollar. A banker on Noory last night claimed that JPMChase holds $90 Trillion in bad derivitives with only $100 B in assets, so do the math.
WASHINGTON: The CEO of failed Washington Mutual Inc., on the job only a few weeks before the largest U.S. thrift was seized by the government and sold to JPMorgan Chase & Co., is entitled to more than $13 million in severance and bonus pay. Alan H. Fishman signed an agreement that provides around $6 million in cash severance and retention of his signing bonus of $7.5 million if he were to leave his job, according to a company filing with the Securities and Exchange Commission.
Originally posted by SUNRAY06
I see that JP Morgan is listed as one of the owners of the FEDERAL RESERVE BANK..so lets see How does this work..they lend themselves the money and we get to pay for it...MADNESS
[edit on 26-9-2008 by SUNRAY06]
Originally posted by grimreaper797
Some analysts do say this isn't a great deal for the short term, and to an extent they are right. Fortunately, business isn't about planning for the next year, its about planning down the road.
This deal will almost definately be a benefit to the company. JPmorgan, unlike many companies, aren't raising capital to fill up holes on their book, but expanding and letting the company grow. Dimon knows a rule of the world, "nothing ventured, nothing earned." Most companies are on the defense right now, but not JPmorgan, and thats why when this all blows over, JPmorgan will be THEE stock to have on your portfolio.
Banks like Wachovia and such face possible extinction, but JPmorgan will almost certainly ride this crisis out.
Originally posted by grimreaper797
reply to post by DisabledVet
Its quite simple. Either A. these banks were run by CEO's who decided to get rich quick or B. they were run by idiots and a couple banks knew this would happen and now will try to almost completely monopolize the banking market if they can.
I personally think its a combination of both a and b. The greedy get rich, and a few monopolize the market to the best degree that they can.
Originally posted by OldMedic
For anyone that was at ALL familiar with Washington Mutual, this does NOT come as a surprise.
They bought out much larger (but more conservative) Savings and Loans, in order to become the worlds largest. We had banked at one of those for years, when "Wa-MU" took them over (running up millions in debt of course).
Originally posted by Rockpuck
Any bank is a good buy, if you can predict which ones will survive..
Morgan and BoA are the safest bets, if they fail we as a country fail.. and I think our Gov would sooner end the Republic before that happened..
Some banks, like National City are doomed, some like Citi if they don't get some kind of capital infusion are doomed, and many investment banks are still teetering, not to mention the horrific scene of international banks like Royal Bank of Scotland which will soon have to be bailed or nationalized, Banco has issues, and another EU bank was nationalized (how it can be nationalized into a fictitious entity I don't know.. essentially the dutch and swiss will own majority shares?)
Anyways, it's a damn good thing Chase took WaMu, and Citi took Wachovia, because the FDIC didn't have enough to insure the accounts.....