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Old 09-19-2008, 02:05 PM
 
1,461 posts, read 3,067,701 times
Reputation: 599

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-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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Old 09-19-2008, 02:18 PM
 
Location: Humboldt Park, Chicago
2,686 posts, read 7,275,209 times
Reputation: 1194
Default WAMU getting bought

WAMU is being encouraged to sell. Citibank may be the buyer. What do others think?
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Old 09-19-2008, 03:51 PM
 
Location: Broward County
2,517 posts, read 10,281,373 times
Reputation: 1369
Well, now that the government is buying all bad mortgage debt from the banks...duuh....
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Old 09-19-2008, 04:54 PM
 
Location: Georgia, on the Florida line, right above Tallahassee
10,474 posts, read 14,530,352 times
Reputation: 6378
Lesson learned:

It's good to be irresponsible?
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Old 09-19-2008, 05:02 PM
 
20,194 posts, read 21,577,293 times
Reputation: 9234
Quote:
Originally Posted by 70Ford View Post
Lesson learned:

It's good to be irresponsible?
Unless you are a taxpayer...
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Old 09-19-2008, 09:56 PM
 
Location: Seattle, WA
209 posts, read 556,441 times
Reputation: 87
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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Old 09-20-2008, 05:39 AM
 
Location: Los Angeles Area
3,306 posts, read 3,658,939 times
Reputation: 592
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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Old 09-20-2008, 05:46 AM
 
Location: Georgia, on the Florida line, right above Tallahassee
10,474 posts, read 14,530,352 times
Reputation: 6378
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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Old 10-16-2008, 05:51 PM
 
Location: Georgia, on the Florida line, right above Tallahassee
10,474 posts, read 14,530,352 times
Reputation: 6378
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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Old 10-16-2008, 08:06 PM
 
Location: Alexandria, VA
12,607 posts, read 22,556,965 times
Reputation: 19479
WaMu still continuously sends out credit card applications! What's up with that?
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