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09-19-2008, 02:05 PM
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Senior Member
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Join Date: Oct 2007
529 posts, read 385,359 times
Reputation: 101
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WAMU is not going under!
-Wamu is 10 times bigger than Indymac
-wamu has more business lines besides mortgages
-Wamu is writing off less loans than anticipated
-Fed is now going to provide a plan to take over the bad debt
-largest thrift bank with a large nationwide network of banks (unlike Indymac)
-assets (not deposits) are huge
-depositors assets are over $140 billion
So if you want to be like the other misguided people and jump off the bridge too just because someone told them to, then go ahead withdraw your money. Keep this in mind....FDIC has over 1000 banks on its list (WAMU isn't one of them) so the next bank you deposit your money into might go belly up as well.
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09-19-2008, 02:18 PM
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Senior Member
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Join Date: Feb 2008
Location: Humboldt Park, Chicago
1,457 posts, read 1,223,791 times
Reputation: 335
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WAMU getting bought
WAMU is being encouraged to sell. Citibank may be the buyer. What do others think?
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09-19-2008, 03:51 PM
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Humanitarian Vigilante
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Join Date: Jan 2008
Location: Broward County
2,082 posts, read 1,742,276 times
Reputation: 562
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Well, now that the government is buying all bad mortgage debt from the banks...duuh....
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09-19-2008, 04:54 PM
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Oh, yeah!
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Join Date: Nov 2007
Location: Warm, sunny Iraq.
2,106 posts, read 1,621,506 times
Reputation: 1180
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Lesson learned:
It's good to be irresponsible?
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09-19-2008, 05:02 PM
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Do Not Steal, the socialists hate competition
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Join Date: Oct 2007
Location: Here today, gone tomorrow
5,480 posts, read 2,622,558 times
Reputation: 1261
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Quote:
Originally Posted by 70Ford
Lesson learned:
It's good to be irresponsible?
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Unless you are a taxpayer... |
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09-19-2008, 09:56 PM
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Senior Member
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Join Date: Jul 2008
Location: Seattle, WA
203 posts, read 130,691 times
Reputation: 75
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They will be purchased. The problem is they have $19 billion in bad loans by some estimates and $3.4 billion in market capitalization.
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09-20-2008, 05:39 AM
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Cantankerous
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Join Date: Apr 2007
Location: Los Angeles Area
3,306 posts, read 1,148,368 times
Reputation: 592
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WaMu is insolvent, they will shortly be bought by another firm for almost nothing or the FDIC will take the over. The failure of WaMu doesn't cause the same problems as the failure of Lebman, etc does. But the FDIC doesn't have enough man power to effectively close the bank so it will be interesting to see what they'll do. Other companies seem about as interested in buying WaMu as they are buying a pile of dog poo.
There are far better places to put your money than WaMu.
Citibank may not even be around in a year, they are in no position to purchase a failing bank. Not unless they give a sweet government deal of course...
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09-20-2008, 05:46 AM
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Oh, yeah!
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Join Date: Nov 2007
Location: Warm, sunny Iraq.
2,106 posts, read 1,621,506 times
Reputation: 1180
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I thnk he works for MaMu, bro. Read some of his posts...like...the last 3 or 4 of them.
...all supporting Wamu 'cuz it's so kewl - N- Stuff.
Blech.
*******************
Here's a gem from one of his prior posts....
actually Saddam Hussein caused this war. how old are you? 14?
I'd post a "FAIL" picture...but the mods would just delete it.
Last edited by 70Ford; 09-20-2008 at 06:01 AM..
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10-16-2008, 05:51 PM
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Oh, yeah!
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Join Date: Nov 2007
Location: Warm, sunny Iraq.
2,106 posts, read 1,621,506 times
Reputation: 1180
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I'm going to go out on a limb here and say, WaMu will definitely fail. And be sold for 1.9 b billion to J.P. Morgan Chase.
Yeah. I'll do that.
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10-16-2008, 08:06 PM
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Senior Member
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Join Date: Aug 2007
Location: Alexandria, VA
1,607 posts, read 1,262,114 times
Reputation: 493
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WaMu still continuously sends out credit card applications! What's up with that?
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