Comments on: WaMu Fails – Bigger News Than You May Think

By: coffman1

coffman1 — Fri, 26 Sep 2008 19:34:43 +0000

AND … The election is too DUMB to call!

By: Kip

Kip — Fri, 26 Sep 2008 17:14:26 +0000

DINGO – Thanks for the list. What is alarming is the situation gets worse, and worse all the way down – AND – we all know this crisis isn’t done yet.

Getting Hammered Today: NCC, WB,
Look at the trend on the Credit Card Companies: AXP, COF, MA, V

By: Ed

Ed — Fri, 26 Sep 2008 15:40:03 +0000

Lastly, there is the strong possibility of a major REO and note dump, which will add a large amount of inventory to an already pounded market in the West Coast. According to our data, I estimate they sit atop $10bb in foreclosed properties and twice that amount of non-performing notes. They will be very lucky to get half of that amount through liquidation.

Hahah, nice try Mr Mortgage, of course they’ll liquidate these things at close to original value, because Mr. Government is going to buy them up! Three cheers for socialized losses!

By: David

David — Fri, 26 Sep 2008 15:20:42 +0000

We need a revolution. Who’s with me?

By: Mark in San Diego

Mark in San Diego — Fri, 26 Sep 2008 11:21:20 +0000

Also lost in the shuffle (besides the 25 billion for GM)is the rapidly rising unemployment rate – unemployed people don’t buy houses. . .I really think housing won’t hit bottom till 2010. There isn’t a day that some huge announcement doesn’t come off the press – today it is HSBC laying off thousands.

By: Laker

Laker — Fri, 26 Sep 2008 07:20:01 +0000

Mr Mortgage,
WAMU WAS on the list. There are two lists; one that they make public with the 90 banks or whatever, and the other that is secret and includes practically all banks including WAMU, CITI, BoA, Wachovia, and even Chase.
All banks are insolvent. That is why they need the bailout money to capitalize themselves. Loans will not work, they need gift money from us, grants.
Seriously, every moron knew that WAMU is going to fail, I’m still shocked that Downey Savings is still alive and trading at $5 a share…If Wamu went down, DSL is 90% made of the toxic option arm stuff…

By: CompaJD

CompaJD — Fri, 26 Sep 2008 05:48:58 +0000

That is great!!!! When does the fire sale begin????

By: Arnold Layne

Arnold Layne — Fri, 26 Sep 2008 05:24:17 +0000

Andy Xie, an independent economist and former Morgan Stanley chief economist, said that Greenspan’s lax monetary policy led other central banks to keep monetary policy equally loose to prevent appreciation of their currencies.

“Through the currency market Greenspan was effectively setting monetary policy for the world. Not only the U.S., the whole world should blame him for the catastrophe today,” he added.

from nice article here:
http://www.koreatimes.co.kr/www/news/biz/2008/09/238_31633.html

By: Billy

Billy — Fri, 26 Sep 2008 05:23:57 +0000

Thanks MM for calling another one months ago. Dingo, thanks for the postings. Now, what do you do with these liers? Can we impeach yet, deliberatly misleading the country into another disaster? I mean they knew how bad it was and were writing up the bailer in July. Who are these people? I bet tomorrow will be a scary day. What a week!

By: Todd

Todd — Fri, 26 Sep 2008 04:36:28 +0000

What happens to all of Wamu’s toxic assests since JPM didnt take them? The FDIC going to handle them?