WaMu was stolen from owners -- Failure is your illusion
Ivan of Il. --- you are part of the masses that swallowed this idea that WaMu failed. Tim of MD is correct. It did not fail. It was seized under false pretenses by the FDIC in collusion with JP Morgan. If you know your facts you will find.
- it continued to meet (and exceed) liquidity requirements.
- statements of future liquidity to 2010 were accurate.
- claimed Bank Run was only accounts over 100000 and only 5%.
The idea that WaMu 'failed' is exactly what we are all supposed to believe but when you look at the facts the whole fail thing falls apart.
Here is a website that may enlighten you .. and others on this page:
http://wamurape.org
tihsllub
of WA
@
Oct 26, 2008 03:50:52 AM
Law suits E mail me if you know
This is an outrage The FDIC did not rescue a failed bank They predeived because of the media that it would fail We all want out stock money back Now Get angry and get on the class action line We need bull dog attorney's There are so many violations here it is unreal And to the fools who said we knew the risks It does not apply to seizer It's speaking of trading Not stealing your holdership in the company Please educate your self please e email me to talk or inform me of law suits pending Seeer4078@aol.com
Lori
of CA
@
Oct 01, 2008 12:55:37 PM
SHAREHOLDERS ROBBED!
Why did FDIC seize WaMu, turned around and 'sold' it to JPM for $1.9B. Why not a brokered sale of WM directly to JPM, like Wachovia's sale to Citi? At the very least, WM shareholders could have gotten maybe $1/share?
Jet
of CA
@
Sep 30, 2008 14:55:07 PM
Financial Peace
I have a WAMU credit card that, because of run of bad luck, I was late on a couple of payments. This was over a year ago. I requested a reduction of the 31% interest rate several times, but was met with what I perceived as polite laughter. I'm not a vindictive person, but I can't help feeling joy over this bank's failure.
I agree with Ivan of IL. Spend what you can afford. I'm following Dave Ramsey's suggestion of dumping debt. One day in the near future, the predatory creditors will just have to survive without me, the ones that are left.
Al
of GA
@
Sep 29, 2008 15:07:20 PM
JPMorgan should be nice enough to give WM shareholders some JPMorgan shares. We all work hard for our money. This is an absoulte nightmare for WM shareholders. According to their agreement with FDIC it states excluded WM Prefer Stock does not say anything about WM Common Stock. Lawsuit may follow JPMorgan if they do not offer JP Common Stock to WM Common Stock holders.
Betty
Betty
of CA
@
Sep 28, 2008 09:25:43 AM
Kiss your Lucky Stars
Kiss your lucky stars that Chase bought out WaMu. Else ALL of us as tax payers will be footing this bill!! Remember.. FDIC insured aka: tax payer insured.
So yes! Thank you for someone to give something for their current real worth. The stocks were overinflated and stockholders were dillutional on its value. ).16 cents is its TRUE value. It was worth that much two weeks ago as it is today.
I have 4 property mortgages with WaMu with excellent credit. I have ALL my checking, savings - for private and business with Chase. So my assets are involved both ways.
By the way, I bought some WaMu shares at $4.50 recently. It tanked to $3 then had a one day spike to $5. I sold out and could see red!! Glad I did.
Like the previous comment No:2, ONLY SPEND WHAT YOU CAN AFFORD.
I have ZERO consumer debt and loving it.
Ivan
of IL
@
Sep 27, 2008 09:48:43 AM
Like Russia
Maybe we are like Russia? I've been to both places and the living in here looks a lot like Soviet Union before it's collapse. But here people don't know howto handle money and buys and buys even if they don't own money. We can only blame ourselves if we kept buying for credit and then when the bad times comes the credit starts to hunt us. I always liked to live here because I NEVER buy for credit. Those owing thousand s and thousands for their credit companies are paying my bills for a long way! I'll get my cash back from cards like Amex every month and NEVER paid a penny for them. No annual fees, nothing, thanks for those who loves to pay their APR's. Same goes for lot of other things. This formerly-lovely, now money-loving country are only living for bigger homes, bigger cars, bigger TV's, who-cares-about-environment, and nobody even know life (read better life) exists around us if we just look up and get smarter. Well, might be tought to get smarter with all that interest you own for left or right, but if we would handle our money wiser, this kind of things with banks would not ever happen.
Original idea of bank is to save your extra money for bad days, not to loan as much as you can during good days and then file bankruptcy and have other pays you off. If everyone just borrows from everyone in hopes to get ritcher than everyone else, you haven't done your math right! Something is then missing and it's the money part of the calculation. Well, why I'm worrying about his because no matter how bad everything still goes, I don't own anybody, I don't have dues to anybody, I have my money in safe place for bad days and if this turns out to be one of those Soviet Union collapses, I'll keep living in perhaps littlebit different kind of world, but my creditors won't ever come to knock my door because I'm a free man!
It's just sad to watch people flounder in their dept...
John Miller
of FL
@
Sep 27, 2008 07:25:15 AM
Shareholders Robbed!
J.P. Morgan should give shareholders of WM equivalent in JP Morgan shares to what the shares were trading when this was announced. To just decide to screw the shareholders after "raiding the bank" is a pretty sad thing. WM still had "$Billions in accounts". I can't believe that this is happening in the U.S.A! We are getting like Russia.
tihsllub of WA @ Oct 26, 2008 03:50:52 AM
Lori of CA @ Oct 01, 2008 12:55:37 PM
Jet of CA @ Sep 30, 2008 14:55:07 PM
Al of GA @ Sep 29, 2008 15:07:20 PM
Betty of CA @ Sep 28, 2008 09:25:43 AM
Ivan of IL @ Sep 27, 2008 09:48:43 AM
John Miller of FL @ Sep 27, 2008 07:25:15 AM
Tim of MD @ Sep 26, 2008 17:33:34 PM
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