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WAMU seized

Discussion in 'Off Topic Threads' started by cubancigar2000, Sep 26, 2008.

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  1. cubancigar2000

    cubancigar2000 Well-Known Member

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    The feds took over Wash Mut Bank, biggest failure in history. The bailout plan has been shelved for now with a new plan being introduced, Things are not getting better
     
  2. halfmile

    halfmile Well-Known Member

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    Turn on your news, J.P.Morgan Chase has bought the whoe thing.

    HM
     
  3. ou.3200

    ou.3200 Well-Known Member

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    Not the whole thing.......just the assets. Debts, shares and $1.9 million payment remain with WaMu now in the hands of FDIC so the shareholders and bondholders lose.
     
  4. halfmile

    halfmile Well-Known Member

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    Wamu site has JP logo on it now. They don't waste any time, do they?

    HM
     
  5. cubancigar2000

    cubancigar2000 Well-Known Member

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    Maybe Wells Fargo is next??
     
  6. trim tab

    trim tab Active Member

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    You don't have to worry about Wells Fargo
     
  7. W.P.T.

    W.P.T. TS Member

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    Wells Fargo is the only name you have not seen or heard being passed around lately, that has to tell you something ... I'd like to get a job driving one of them Stage Coaches, thats if I was going to have a job again ... WPT ... (YAC) ...
     
  8. cubancigar2000

    cubancigar2000 Well-Known Member

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    They may be ok, I hope so but I am glad I dont have any of their stock ( or any other bank)
     
  9. Bisi

    Bisi TS Member

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    WM finally went bellyup and they caught me. Last week I jumped in and purchased 500 shares. Held the stock 24 hours and then sold it and made a $1 a share. Got greedy and decided to try it again this week. It started down Wen. so I purchased 300 shares hoping it would cycle up Thursday. Dow was up something like 200 plus points Thursday. I was hoping WM would go up but instead went down. My plan was to sell Friday morning at market price, but they folded Thursday night.

    I went to the well once too many times on this one.

    I really didn't need 20 flats of Remington Gun clubs from "Dick's" anyway.
     
  10. Haskins Bill

    Haskins Bill TS Member

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    All I can say is that there must be a lot of bad Lox and stale bagels around Wall Street these days for all of this bad news. IMHO that is what causes a lot of losses on Wall Street lately. I might be wrong but it seems like a lot of a certain religious persuasion is causing much of this latest trouble in the markets. Of course they have been the root of many of our finacial problems in the past. Am I an anti semetic? I don't know for sure. I just know that they control so very much of our economy. Bill
     
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