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Washington Mutual (WaMu), formerly one of the nation's most prestigious banks and alleged holder of over $307 billion in assets, is suing the Federal Deposit Insurance Corporation for more than $13 billion over the roll-up of its banking division into JPMorgan Chase & Co.
Yaknow, let the suckers all go under.
I'm sick of this. If they can afford the lawyer fees to pursue this, they didn't deserve money to begin with.
Greedy jerks.
Yaknow, let the suckers all go under.
I'm sick of this. If they can afford the lawyer fees to pursue this, they didn't deserve money to begin with.
Greedy jerks.
Your so smart!and rich the nice part is what you say don't count,Do you have a mouse in your pocket?The use of the word we?Was you out these millions?[no]I bet when you want something or get older than you are you will also want from the government!This is for eductated smart people to figure out!If they have it coming they will get it!That is most peoples problem.They sit and cry over other people getting ahead and wind up going down worried about us wealthy people!Sure wamu is going to try to get what they can!Thats the facts of what a good profesional business person does!The government set it all up for the winners to keep on winning!And made medication for the loosers who cry over what a winner does!I know people who has filed bankruptcy and made millions that way!For the ones who don't like the way it is get a uhaul and move to russia!Facts are the winners will keep going,and the loosers keep crying! Thats the AMERICAN WAY,LOVE IT OR LEAVE IT,Dont cry over it.
Educated people usually know how to spell. They don't have run on sentances. They know how to punctuate. Kind of like pointing at someone saying they're 'stoopid'. Credibility is instantly lost.
Wamu is crying about their own mismanagement? They don't like that Chase absorbed their toxic class securities? Wamu was doing far better when the original owners paid strict attention, but once that mgmt stepped out, it was a suicide ride of avarice. That Chase would try to come out smelling like a rose... they aren't guiltless either, but at least they're making meaningful attempts at salvaging the system.
Suing FDIC... I hope the countersuit kicks them to the curb so hard they wished they lived in Russia.
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Washington Mutual (WaMu), formerly one of the nation's most prestigious banks and alleged holder of over $307 billion in assets, is suing the Federal Deposit Insurance Corporation for more than $13 billion over the roll-up of its banking division into JPMorgan Chase & Co.
I'm actually upset about this. Not because they are being ungreatful and suing but because I held 2 Wamu visa cards and when chase took over they got rid of my 0% apr and made it 14% charged me late fees even though I had paid and took away all my perks like my Fica reports.
Quote:
Originally Posted by KRAMERCAT
Washington Mutual (WaMu), formerly one of the nation's most prestigious banks and alleged holder of over $307 billion in assets, is suing the Federal Deposit Insurance Corporation for more than $13 billion over the roll-up of its banking division into JPMorgan Chase & Co.
Meh. They upset because they think it got sold to cheaply but if the Fed didn't ride in then the company would have gone bust and they would have gotten jack cheese. This will get thrown out by the court.
Meh. They upset because they think it got sold to cheaply but if the Fed didn't ride in then the company would have gone bust and they would have gotten jack cheese. This will get thrown out by the court.
Oerdin this all comes down to how much anything is legitimately WORTH. Small scale example, if a home actual value is 70k becomes over valued at 450k, wamu bought it, value drops down to 70k again, they ATE all that loss. This means the pennies on the dollar fire sale really was the legit value, because it wasn't just the 70k value being taken into account. It was the accounting nightmare mired up in what's left of 70k (additional devaluation from lead paint, asbestos, sinking foundations etc) that plague the entire asset class.
Even healthy valuations are harmed because if you paid the true fair market value in a neighborhood that didn't follow your lead, the neighborhood goes into foreclosure glutting the market, your house is suddenly worth 35k. Tricky, but that's what the bailouts were trying to solve as well as keeping commerce wheels moving w/grease. This could have been so much worse than people realize. As chemical chain reactions go unmitigated too long, this could have put everyone with a mortgage underwater. It could have even made me take a loss on the home I paid cash for, because if it stays undervalued from glutted market conditions... I would lose through no fault of my own.
I'm sure a mortgage broker & realtor could explain it better. I'm not in the industry, just a joe public home owner, but that's the information I've gleened from their perspective.
Bittersweetsarah-- those bait tactics for insanely low terms are just that. They aren't sustainable, and they're a method of marketing that invariably ends the exact same way chase is handling it. Negotiate for better terms or cancel the card, shop around. Free market is still right where you left it. I believe WSJ and most financial sections of newspapers publish the top deals for interest earning vehicles and credit card terms.
In all honesty would everyone turn down the money if it was going to you? Be honest!When you get your bonus years from now some may say the same,it would be hard to turn down a few million!The problem is we didnt get it!
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