[shortonoil]

roccman said:

$this->bbcode_second_pass_quote('', 'B')ingo!

The 3-5 year arms were fused to go off at PO.

PO was to usher in economic collapse.

PO will be defined by economic collapse.

Option arms were/arm the fail safe to insure economic collapse.

It is working.

Morgan was one of the original seven that was at Jekyl Island.

[firestarter]

Why Thursday? Why not Friday?

$this->bbcode_second_pass_quote('', 'B')y Jeran Wittenstein
Sept. 25 (Bloomberg) -- Washington Mutual Inc. was taken over by the Federal Deposit Insurance Corp. in the largest failure of any bank in history, CNBC reported, without citing anyone.
The FDIC will sell the bank's $130 billion deposit base to JPMorgan Chase & Co. for an undisclosed sum, CNBC said.

[Cashmere]

Thursday to put extra pressure on lawmakers to pass the bailout scam.

[r101958]

I can answer in one sentence: As a (not so) subtle threat to Congress so that they approve the bailout package.

[Dan1195]

They basically took it over then sold the branches, deposits and some assets to JPMorgan. Debt and equity gets wiped out.

[firestarter]

Cashmere, the bailout is dead. Bush will not sign if executive compensation denied.

And, I do agree with you on the timing of WM. It was timed to pressure the Beltway boys. It won't work though.

The pin to the financial grenade was pulled. All hell's about to break loose.

[roccman]

JPM

There's that name again.

[ki11ercane]

Wow I guess TD Canada Trust WON'T be buying them out.

[Snowrunner]

$this->bbcode_second_pass_quote('ki11ercane', 'W')ow I guess TD Canada Trust WON'T be buying them out.

[scienceteacher]

Bye Bye $
http://www.youtube.com/watch?v=zPHUtFxa ... tulip.com/

[Cashmere]

$this->bbcode_second_pass_quote('', 'C')ashmere, the bailout is dead. Bush will not sign if executive compensation denied.

[dunewalker]

$this->bbcode_second_pass_quote('Cashmere', 'T')hursday to put extra pressure on lawmakers to pass the bailout scam.

[Novus]

$this->bbcode_second_pass_quote('Cashmere', '')$this->bbcode_second_pass_quote('', 'C')ashmere, the bailout is dead. Bush will not sign if executive compensation denied.

[PrairieMule]

Looks like Wamu just got bought out. No surprise.

http://money.cnn.com/2008/09/25/news/co ... 2008092523

[Novus]

Bought out? More like Bailed out by the tax payer yet again to make those at JPM even richer.

America as of now is the greatest welfare state that even existed. Welfare for the rich that is.

[jbrovont]

$this->bbcode_second_pass_quote('', '
')OMG! My bank closed! Jee Whiz Mr. Congressman please pass that bill!

[countrymomma]

I understand that deposits of up to $100k are insured. But here is my question: Should your local bank go under, how long does it take to get back to "business as usual?" What is the process? Most importantly, how long will those with money in the bank be hanging out, unable to access their money?

I hear about the FDIC and I wonder. Is this like my auto/homeowner's insurance - waiting for days, weeks, months for reimbursement? I can't imagine how, if my savings & checking were inaccessible because the bank was closed up, we would be able to take care of all the normal bills every week. Or, is this some rapid rescue for those with accounts in insured banks? A day or two and everything is relatively "normal" again? I apologize for my ignorance, but I would love to know how this works.

[Falconoffury]

The FDIC rules state that insured accounts will be reimbursed "as soon as possible". How soon that really is, could be anyone's guess. In theory, it could be years.

[mattduke]

When banks begin going under en-masse, the inflation required to make all those FDIC paymens will be enormous, and thus we'll have withdrawal limits. "Don't worry, your money is safe, you just cannot withdraw it." Meanwhile you will be desperate to withdraw it as the dollar shrinks in value every day.

[smallpoxgirl]

$this->bbcode_second_pass_quote('countrymomma', 'S')hould your local bank go under, how long does it take to get back to "business as usual?" What is the process? Most importantly, how long will those with money in the bank be hanging out, unable to access their money?