Tuesday, October 21st, 2008
Washington Mutual failed on September 26. Today is October 21.
JP Morgan agreed to take over assets, but the transaction is not yet completed.
How is this possible?
Funds are still in limbo?
Are you guys insane?
Thomas Lauria agrees.
http://www.bloomberg.com/apps/news?pid=20601087&sid=a4.aaN6Ngclc
And to make things worse … the FDIC now gets involved in the transaction. (To prevent further market panic, the FDIC said that it would stay out of the transaction and allow JP Morgan to handle it). *oops … well, …
Posted in bank, failure, fdic, jp morgan, wamu, washington mutual | No Comments »
Friday, September 26th, 2008
Washington Mutual FAILED.
JP Morgan is the new FDIC.
Wachovia is definitely next.
Posted in fdic, jp morgan, wachovia, wamu, washington mutual | No Comments »
Friday, March 28th, 2008
I’m tired of talking about this.
Just look for yourself.
http://biz.yahoo.com/t/37/915.html
Posted in bailout, bear stearns, james cayne, jp morgan, recession | No Comments »
Sunday, March 16th, 2008
Three witches enter.
Job Witch: Ahh. My wage is half it used to be.
Money Witch: My paper is worthless.
House Witch: My home is not my home. Tis my burden now.
All Witches: Double Double Toil and Trouble Dollar Burn and Pop the Bubble.
Job Witch: Send my position overseas,
ignore my tireless plees, for prosterity,
and other sundries irrelevant.
All Witches: Double Double Toil and Trouble Dollar Burn and Pop the Bubble.
Money Witch: Make me cheap, pricey to make,
leave shocked consumers, in my wake,
print to death, my soul you take,
as much as you need.
All Witches: Double Double Toil and Trouble Dollar Burn and Pop the Bubble.
House Witch: Bring the crooked to my hearth,
show them riches from the start,
job not needed, tax-free cash,
hide the earnings,
in your stash.
All Witches: Double Double Toil and Trouble Dollar Burn and Pop the Bubble.
Shhhh. Hear the crackle. Hear the burn. Hear Uncle Sam’s stomach turn. Shhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhh. POP!
Posted in bear stearns, bolero, crash, credit crisis, depression, dollar, federal reserve, jp morgan, panic, recession, stock market, stocks | No Comments »
