[catbox]

Bloomberg Story

[wisconsin_cur]

$this->bbcode_second_pass_quote('ReverseEngineer', '')$this->bbcode_second_pass_quote('mlit', 'T')o early the feds do things like this over a weekend

[Roccland]

$this->bbcode_second_pass_quote('ReverseEngineer', '')$this->bbcode_second_pass_quote('mlit', 'T')o early the feds do things like this over a weekend

[Roccland]

$this->bbcode_second_pass_quote('catbox', '[')url=http://www.bloomberg.com/apps/news?pid=20601087&sid=au_737FNxQmk&refer=home]Bloomberg Story[/url]

[Specop_007]

WM is up 16 cents so far this morning.

As for their position, it really has changed appreciably in the past month or so. Every day they have been faced with the prospect of selling divisions to stay afloat.

I see nothing new here, and I dont believe we will see them taken over this weekend. But the day is young, and the weekend may as well be next year as far as the markets are concerned.

[RonMN]

I was watching CNBC yesterday, a conversation between mark haynes & dave faber.

Mark asked if Wamu was on the FDIC watch list. Dave responded, look...if the FDIC had to take over Wamu, it would be the end of the FDIC & deposit insurance as we know it.

[Specop_007]

$this->bbcode_second_pass_quote('RonMN', 'I') was watching CNBC yesterday, a conversation between mark haynes & dave faber.
Mark asked if Wamu was on the FDIC watch list. Dave responded, look...if the FDIC had to take over Wamu, it would be the end of the FDIC & deposit insurance as we know it.

[emersonbiggins]

I was in my local Wamu branch this morning, taking the last few dollars out of my account, and happened to notice a teller taking a phone call of an obviously panicked depositor. The phrase "Countrywide was not into banking, but we are by the hundreds of millions" (with the tacit implication of "we're too big to fail - you're OK") was fomented as a response to the caller's questions. Scary stuff.

I still have about $30 in there that I plan on getting out of Washington Federal on Monday.

[Cid_Yama]

You know you are in real trouble when your stock is featured in the index bar on CNBC. Both Lehman and WaMu are there.

[Spanktron9]

$this->bbcode_second_pass_quote('Roccland', '')$this->bbcode_second_pass_quote('catbox', '[')url=http://www.bloomberg.com/apps/news?pid=20601087&sid=au_737FNxQmk&refer=home]Bloomberg Story[/url]

[quizz]

Here was a nice perspective (Link):
$this->bbcode_second_pass_quote('', 'T')he largest bank failure in U.S. history was Continental Illinois National Bank and Trust Company. When it failed in May 1984, it had $41 billion in assets and $30 billion in total deposits.

According to the FDIC press release, when IndyMac failed in July it had $32 billion in assets and $19 billion in deposits, making it the second-largest failure in history.

Washington Mutual has $310 billion in assets and $182 billion in deposits. (Their market cap is now below $4 billion.) So think of WaMu as 10 IndyMacs.

The FDIC now estimates the IndyMac failure will cost their insurance fund $9 billion. The total size of the fund is now $45 billion, its lowest since 1995. When the fund runs out…

[heroineworshipper]

The feds were pressing their suits, shining their sunglasses, & cleaning wax from their earplugs yesterday near Lehman.

[Cid_Yama]

CNBC said acquisition will take place this weekend. No Federal money involved.

link edit: link added to related story.

[joeltrout]

Jamie Dimon strikes again.

He will either be the "savior" of the financial sector or the main cause of a total financial collapse.

joeltrout

[Cid_Yama]

CNBC just showed news announcer tell about the deal, then Faber come on immediately following and say no deal. Maybe they are trying to stop the stock price from being bid up before the close and squashing the deal.

[firestarter]

BS. Better for them to let FDIC take em out first, then JPM can jump min for the good parts, whatever they may be.

[idiom]

Pick up the Remains of Wamu or the remains of the FDIC??

[Tyler_JC]

$this->bbcode_second_pass_quote('joeltrout', 'J')amie Dimon strikes again. He will either be the "savior" of the financial sector or the main cause of a total financial collapse.

[heroineworshipper]

Unfortunately, can't afford to get CNBC. Have to pay mortgage bailout taxes U know.

[TheDude]