[kublikhan]

MSM reports WaMu getting snatched up by JP Morgan:

$this->bbcode_second_pass_quote('', 'J')PMorgan Chase & Co is in advanced discussions to acquire Washington Mutual Inc, a source familiar with the discussions said on Friday.
"They are in advanced talks," the source told Reuters.
The source said the sensitive talks had been going on for some time and JPMorgan had conducted a lot of due diligence into Washington Mutual.
Thursday's downgrade of Washington Mutual by Moody's Investors Service helped advance the discussions between the two companies, the source said.

[emersonbiggins]

JPM - last bank standing, as always

[cube]

$this->bbcode_second_pass_quote('emersonbiggins', 'J')PM - last bank standing, as always

[emersonbiggins]

I don't know, cube; I never thought the feds had the balance sheet to take over FNM/FRE, at least without raising taxes and/or inflation for the foreseeable future. The notion that, as a country, we can all pay for each other's houses on April 15 and be financially better off for it, is absurd.

I'm still drawn to the quote in MrBill's sig line.

$this->bbcode_second_pass_quote('', 'T')he organized state is a wonderful invention whereby everyone can live at someone else's expense.

[idiom]

Jp Morgan to Buy Citi and BoA?

Fed to buy Jp Morgan?

Citizens to buy the Farm?

[cube]

$this->bbcode_second_pass_quote('emersonbiggins', 'I') don't know, cube; I never thought the feds had the balance sheet to take over FNM/FRE, at least without raising taxes and/or inflation for the foreseeable future. The notion that, as a country, we can all pay for each other's houses on April 15 and be financially better off for it, is absurd.

I'm still drawn to the quote in MrBill's sig line.

$this->bbcode_second_pass_quote('', 'T')he organized state is a wonderful invention whereby everyone can live at someone else's expense.

[RonMN]

Cube Wrote:
Obviously this can NOT go on for perpetuity.
I'm curious if this is the BIG one.
The one so large that even the government can't bail out.
Or will there be just 1 more?

Well, IMHO, lehman Brothers, Washington Mutual, AIG, and MER are in serious trouble (not to mention Wachovia)...perhaps Ben can buy another quarters woth of time...perhaps not.

I think this is the big one...but we may have 2 more quarters (or not) to continue playing this game.

[roccman]

$this->bbcode_second_pass_quote('emersonbiggins', 'J')PM - last bank standing, as always

[TreebeardsUncle]

JP Morgan is not the only strong bank out there.

WFB and Goldman Sachs are still doing well.
g

[idiom]

Rocc, man when you mentioned the Senior Tranche failures early last year I called all my extended family who have a lot of money in stupid places and told em everything that was going to happen this year.

Man I look like a prophet to them now.

So thanks, and thanks to yall here for participating.

[jbrovont]

If you see your bank's name used in the same crawler as Lehman, it's time to close out your account.

WaMu has been circling the drain for a while. It's kinda like a courtesey flush after Fannie Mae/Freddie Mac.

$this->bbcode_second_pass_quote('Cid_Yama', 'Y')ou know you are in real trouble when your stock is featured in the index bar on CNBC. Both Lehman and WaMu are there.

[35Kas]

Well since I follow this forum closely, now I look like a prophet for telling everyone I know that had WaMu money to get it TFO of there since it was going bankrupt.

[roccman]

$this->bbcode_second_pass_quote('TreebeardsUncle', 'J')P Morgan is not the only strong bank out there.

WFB and Goldman Sachs are still doing well.
g

[Specop_007]

5 ring musta moved at the last minute eh?

[roccman]

$this->bbcode_second_pass_quote('Specop_007', '5') ring musta moved at the last minute eh?

[Tapas]

$this->bbcode_second_pass_quote('roccman', '
')Naw - JPM is now a regulatory arm of the FDIC.

[smallpoxgirl]

So it's now Sunday morning. FDIC didn't take over. No news on a buyout. What happens to WaMu on Monday morning if there's no buyout between now and then? Do they carry on business as usual? Watch their stock drop below $1? CDS widen to 60%?

[firestarter]

WM can trade for many months as a penny stock. As for their swap spreads, that's a whole different ballgame. They won't make it to next weekend IMHO.

[Cid_Yama]

<i>What happens to WaMu on Monday morning if there's no buyout between now and then? Do they carry on business as usual?</i>

No, you increase you expenditure on advertising and grab as much uninformed depositor money as you can before they stop you. Woo Hoo!

[roccman]

$this->bbcode_second_pass_quote('Tapas', '')$this->bbcode_second_pass_quote('roccman', '
')Naw - JPM is now a regulatory arm of the FDIC.