Ok look it's the Friday Night FDIC Funhouse Follies Failed Bank of the week,lol | |
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Omega (OP) User ID: 340280 United States 09/19/2008 08:31 PM Report Abusive Post Report Copyright Violation | Only a matter of time before these small/medium banks start dropping like flies....... Handguns are a skill; shotguns an art; rifles a science. _____________________________________ Democracy is two wolves and a sheep voting on whats for dinner. Disarmament is the precursor to Genocide. Better to take action now rather than chances later. Your choice. |
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Omega (OP) User ID: 340280 United States 09/19/2008 08:50 PM Report Abusive Post Report Copyright Violation | crazy times man... Quoting: ^TrInItY^We knew it was coming man. Problem is when it finally comes I get the feeling-hey, I want to be right, just not THAT right. Jesus. No joke. Handguns are a skill; shotguns an art; rifles a science. _____________________________________ Democracy is two wolves and a sheep voting on whats for dinner. Disarmament is the precursor to Genocide. Better to take action now rather than chances later. Your choice. |
Anonymous Coward User ID: 503005 United Kingdom 09/19/2008 09:14 PM Report Abusive Post Report Copyright Violation | my bet is, the bailout will not work. a band-aid on a bullet wound. the price tag is too big for the usa to afford. goodbye country. i love you and it pains me to see this happen. Quoting: LSamerica brought down by bastards . |
Omega (OP) User ID: 340280 United States 09/19/2008 09:16 PM Report Abusive Post Report Copyright Violation | WAMU probably dies tomorrow. [link to www.ft.com] Five banks exploring WaMu records By Saskia Scholtes in New York Published: September 18 2008 20:19 | Last updated: September 18 2008 23:53 Five banks have come forward to evaluate Washington Mutual’s financial records as part of an auction process run by WaMu’s adviser, people familiar with the matter said on Thursday. WaMu shares rose 14 per cent on Thursday after news it had put itself up for sale. The five banks that have looked through the WaMu materials include JPMorgan Chase, Wells Fargo, Citigroup, HSBC and Banco Santander, the people familiar said. It was unclear whether any of them intended to make an offer for WaMu. EDITOR’S CHOICE Full coverage: Global financial crisis - Sep-16 Morgan Stanley in talks with CIC - Sep-18 TPG clears way for WaMu sale - Sep-17 Lex: WaMu’s downgrades - Sep-16 WaMu faces price to keep deposits - Sep-16 Battered WaMu tries to calm jitters - Sep-12 Goldman Sachs is conducting the auction for Seattle-based WaMu, which is the sixth largest US bank, with $310bn in assets. JPMorgan and Wells Fargo both declined to comment. Citi, HSBC and Santander were not available for comment. JPMorgan made an offer for WaMu this spring but was rebuffed. JPMorgan may be waiting to see whether the auction heats up before determining whether to bid for WaMu’s assets now or try to buy pieces of the bank more cheaply later, sources close to the matter said. Fred Cannon, analyst at Keefe, Bruyette & Woods, said WaMu’s franchise and retail branch network on the west coast of the US made it an attractive prospect for banks such as JPMorgan, but added that a buyer would have to take up to a $37bn accounting hit from the deteriorating mortgage portfolio. TPG, the private equity firm that led an investor group that put $7bn into WaMU in April, on Wednesday tried to facilitate a sale of the ailing bank, waiving its right to be compensated for dilution from any future capital-raising. In its memo to its investors back in April, TPG estimated that cumulative losses from the residential mortgages at WaMU would likely be in the ”mid $20 billions” but other firms looking at WaMu at the time thought losses could be far higher. WaMu’s troubles have accelerated over the past week after downgrades to junk status from Standard & Poor’s and Moody’s rocked investor confidence. If the auction does not draw interest, Goldman may have to evaluate other options for the bank. These could include raising capital by selling off the attractive assets, which would still leave WaMu holding the mortgage portfolio, or raising fresh capital to allow the bank to stand alone – a challenge in the current climate. TPG litself put $2bn into WaMu. Since then, TPG has sold down its exposure and now has about $1.3bn spread across three of its funds. TPG’s right to a so-called “reset” – originally meant to safeguard the value of its minority investment in WaMu – made it difficult to attract new capital and effectively functioned as a poison pill. Copyright The Financial Times Limited 2008 Handguns are a skill; shotguns an art; rifles a science. _____________________________________ Democracy is two wolves and a sheep voting on whats for dinner. Disarmament is the precursor to Genocide. Better to take action now rather than chances later. Your choice. |
Anonymous Coward User ID: 497314 United States 09/19/2008 09:21 PM Report Abusive Post Report Copyright Violation | Pouring yet another LARGE glass of wine... Quoting: Beingsouthernafter watching my inheritance drop all week. Girl, you have NO IDEA how I'm crying! I tried to get my old man to buy precious metals... Somebody please shoot me! |
LS User ID: 437351 United States 09/19/2008 09:22 PM Report Abusive Post Report Copyright Violation | |
Woman On The Edge User ID: 470724 United States 09/19/2008 09:23 PM Report Abusive Post Report Copyright Violation | I have a feeling about this bail out proposal ... seems to be the beginning of something rather than the end .... I don't know what that 'beginning'may be - because I don't have the knowledge, but how does something THIS BIG just go away, fester, or get 'paid back'? |
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Anonymous Coward User ID: 497314 United States 09/19/2008 09:24 PM Report Abusive Post Report Copyright Violation | my bet is, the bailout will not work. a band-aid on a bullet wound. the price tag is too big for the usa to afford. goodbye country. i love you and it pains me to see this happen. Quoting: LSLS, as you probably know, I was never a fan of you...now is your chance to use your knowledge of things to redeem yourself, is it not? DO NOT EVER wear a t-shirt out in public that says "LS from GLP! FU!" Having said that, what would you say to all the diminishing middle class suckers like myself, and their banks? |
LS User ID: 437351 United States 09/19/2008 09:24 PM Report Abusive Post Report Copyright Violation | I have a feeling about this bail out proposal ... seems to be the beginning of something rather than the end .... I don't know what that 'beginning'may be - because I don't have the knowledge, but how does something THIS BIG just go away, fester, or get 'paid back'? Quoting: Woman On The Edgeagreed! MAKA = Make America Kind Again |
Omega (OP) User ID: 340280 United States 09/19/2008 09:25 PM Report Abusive Post Report Copyright Violation | I have a feeling about this bail out proposal ... seems to be the beginning of something rather than the end .... I don't know what that 'beginning'may be - because I don't have the knowledge, but how does something THIS BIG just go away, fester, or get 'paid back'? Quoting: Woman On The EdgeIMO they can't fix it. We are going to go thru a great depression that will last at least 10 years...... Handguns are a skill; shotguns an art; rifles a science. _____________________________________ Democracy is two wolves and a sheep voting on whats for dinner. Disarmament is the precursor to Genocide. Better to take action now rather than chances later. Your choice. |
MD User ID: 353953 United States 09/19/2008 09:30 PM Report Abusive Post Report Copyright Violation | I have a feeling about this bail out proposal ... seems to be the beginning of something rather than the end .... I don't know what that 'beginning'may be - because I don't have the knowledge, but how does something THIS BIG just go away, fester, or get 'paid back'? Quoting: OmegaIMO they can't fix it. We are going to go thru a great depression that will last at least 10 years...... I agree, How can they fix it? Printing more money to cover it would devalue the dollar faster than a sinking boulder in the ocean. Even switching over to the Amero wouldn't fix it, how could it? If anything, it would just delay the reaction by a year or 2, then it is business as usual as the Amero is still a fiat currency. Mike |
Woman On The Edge User ID: 470724 United States 09/19/2008 09:34 PM Report Abusive Post Report Copyright Violation | I have a feeling about this bail out proposal ... seems to be the beginning of something rather than the end .... I don't know what that 'beginning'may be - because I don't have the knowledge, but how does something THIS BIG just go away, fester, or get 'paid back'? Quoting: MD 353953IMO they can't fix it. We are going to go thru a great depression that will last at least 10 years...... I agree, How can they fix it? Printing more money to cover it would devalue the dollar faster than a sinking boulder in the ocean. Even switching over to the Amero wouldn't fix it, how could it? If anything, it would just delay the reaction by a year or 2, then it is business as usual as the Amero is still a fiat currency. Mike USA has no f'n money to bail out anyway - so where the hell is this bail out money coming from to begin with? And, IMO a depression in 2008 would make the earlier depression look like a cake walk. We are a much much MEANER country now, with many more meanies running around. The prospect of a 10 year depression makes me want to go buy a tent and a lot of spam. |
Anonymous Coward User ID: 497314 United States 09/19/2008 09:40 PM Report Abusive Post Report Copyright Violation | IMO they can't fix it. We are going to go thru a great depression that will last at least 10 years...... Quoting: OmegaThis is where I think you go wrong... Of course, you were conjecturing, and so will I..My point is this: You seem to think that this unravelling is due to greed. Maybe so. I have taught myself the techniques of these master criminals...but I only have 1 year under my belt... However, why don't you consider an EVEN larger plan? Look at yer dollar bill....I don't have to tell you that it says "Federal Reserve Note"....that used to say "Silver Certificate" did it not? Omega, you have good instincts, but you are too close to the fire... This is bigger than the USSA (no typo there comrade) Atheist, agnostic, whatever matters not...this is a program..A scheme for a revolution of currency. You can insult or cuss me all you want, but I won't lie and you know I'm right... |
Woman On The Edge User ID: 470724 United States 09/19/2008 09:41 PM Report Abusive Post Report Copyright Violation | IMO they can't fix it. We are going to go thru a great depression that will last at least 10 years...... Quoting: Anonymous Coward 497314This is where I think you go wrong... Of course, you were conjecturing, and so will I..My point is this: You seem to think that this unravelling is due to greed. Maybe so. I have taught myself the techniques of these master criminals...but I only have 1 year under my belt... However, why don't you consider an EVEN larger plan? Look at yer dollar bill....I don't have to tell you that it says "Federal Reserve Note"....that used to say "Silver Certificate" did it not? Omega, you have good instincts, but you are too close to the fire... This is bigger than the USSA (no typo there comrade) Atheist, agnostic, whatever matters not...this is a program..A scheme for a revolution of currency. You can insult or cuss me all you want, but I won't lie and you know I'm right... I agree - something more afoot here ... |
Omega (OP) User ID: 340280 United States 09/19/2008 09:43 PM Report Abusive Post Report Copyright Violation | IMO they can't fix it. We are going to go thru a great depression that will last at least 10 years...... Quoting: Anonymous Coward 497314This is where I think you go wrong... Of course, you were conjecturing, and so will I..My point is this: You seem to think that this unravelling is due to greed. Maybe so. I have taught myself the techniques of these master criminals...but I only have 1 year under my belt... However, why don't you consider an EVEN larger plan? Look at yer dollar bill....I don't have to tell you that it says "Federal Reserve Note"....that used to say "Silver Certificate" did it not? Omega, you have good instincts, but you are too close to the fire... This is bigger than the USSA (no typo there comrade) Atheist, agnostic, whatever matters not...this is a program..A scheme for a revolution of currency. You can insult or cuss me all you want, but I won't lie and you know I'm right... LOL> You were civil with me, so no cussing necessary. This will play out to be a worldwide derivatives unwind. If another fiat currency emerges it still won't matter. A lotta people are going to be outta business. Soon. Handguns are a skill; shotguns an art; rifles a science. _____________________________________ Democracy is two wolves and a sheep voting on whats for dinner. Disarmament is the precursor to Genocide. Better to take action now rather than chances later. Your choice. |
LS User ID: 437351 United States 09/19/2008 09:43 PM Report Abusive Post Report Copyright Violation | my bet is, the bailout will not work. a band-aid on a bullet wound. the price tag is too big for the usa to afford. goodbye country. i love you and it pains me to see this happen. Quoting: Anonymous Coward 497314LS, as you probably know, I was never a fan of you...now is your chance to use your knowledge of things to redeem yourself, is it not? DO NOT EVER wear a t-shirt out in public that says "LS from GLP! FU!" Having said that, what would you say to all the diminishing middle class suckers like myself, and their banks? first, i have tried to change my ways, although i still can get a forked tongue. second, as for the middle class, i am not sure there is anything we can do, except protest louder than ever before. until we take our power (money) back from washington, we will never have a voice in our own lives. today, i recommend finding a "safer" investment. commodities will carry you for now, but be wary of the power brokers when they say they are taking your money for the good of everyone. another good strategy is to invest in companies that create consumer stables. really short term, find a "safer" bank. wells fargo and citi are your best bets for now. as for long term, i would say we are all screwed. MAKA = Make America Kind Again |
Anonymous Coward User ID: 497314 United States 09/19/2008 09:54 PM Report Abusive Post Report Copyright Violation | second, as for the middle class, i am not sure there is anything we can do, except protest louder than ever before. until we take our power (money) back from washington, we will never have a voice in our own lives. today, i recommend finding a "safer" investment. commodities will carry you for now, but be wary of the power brokers when they say they are taking your money for the good of everyone. another good strategy is to invest in companies that create consumer stables. really short term, find a "safer" bank. wells fargo and citi are your best bets for now. as for long term, i would say we are all screwed. Quoting: LSThanks man!! All it takes is crisis for the real men to step forward..... I pulled all my $$$$ out of the markets..bought some land..LOL...who knows...at least I have dirt to grow stuff.... |
Juanwhoknows User ID: 506785 United States 09/19/2008 09:56 PM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 502848 United States 09/19/2008 10:00 PM Report Abusive Post Report Copyright Violation | I have a feeling about this bail out proposal ... seems to be the beginning of something rather than the end .... I don't know what that 'beginning'may be - because I don't have the knowledge, but how does something THIS BIG just go away, fester, or get 'paid back'? Quoting: OmegaIMO they can't fix it. We are going to go thru a great depression that will last at least 10 years...... TAmericanPTB will be required to start slinging nukes, probably even at us, long before then - this citizenry wont give them much breathing room |
Dan Haylen User ID: 474106 United States 09/19/2008 10:05 PM Report Abusive Post Report Copyright Violation | i think the bail out might work. i mean, honestly its brilliant. The fed has done what the robber barrons did in the 30s to cause the depression. make money as cheap as possible and dump it out there, all of it, or what everyone assumes is all of it. Try to get it back, and let it all fall....then they buy it ALL back for .20 on the dollar. Not to mention being at the table when the "New" banking laws are written. The only thing thats different is that now we have a FED, that was supposed to prevent this. So now were paying to fix a system that was supposed to protect us? Nobody gets fired? Or shot? We just pay for it because the bank cant fail? Republicans talk a big game about smaller government, but are SERIOUSLY LACKING IN SUBSTANCE. Its like were paying the wizard to keep the sun from crashing into us. Its bullshit. |