JPMorgan Chase buying Washington Mutual's assets after FDIC sei...

Inc. came to the rescue of ailing Washington Mutual Inc. Thursday, buying the ailing thrift's banking assets after WaMu was seized by the Federal Deposit Insurance Corp. Full Story
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mike

United States

#1 Sep 25, 2008
oh great, chase bought up my bank awhile ago, now they buy up a failing bank... what happens when chase goes under?
anotherperspecti ve1

Ashburn, VA

#2 Sep 26, 2008
Is this not the bank that Magic Johnson owned or was involved in getting it expanded across the U.S. If so, I wonder how much were his earnings before the collapse....
Alz

Lake Zurich, IL

#3 Sep 26, 2008
Well, none of this ever had to happen. See this video

The alarms were sounded YEARS ago and the Democrats fought them.

http://time-blog.com/real_clear_politics/2008...
Frank Miller

Dallas, TX

#4 Sep 26, 2008
This is unfortunate, but it should serve as a wake up call to all American investors. If you want to protect your money, you need to diversify and invest at least some of it overseas. These are hard times for American investing firms. I personally use offshore bank accounts and they have helped me with diversification and asset protection. If you want to read more on why offshore investing is smarter, feel free to visit my website.

Best,
Frank Miller
http://www.theoffshorebankaccount.com
Alz

Lake Zurich, IL

#5 Sep 26, 2008
Here is more on the root cause of this financial mess:

http://directorblue.blogspot.com/2008/09/root...

This is one case where the problem can easily be traced back to a series of events - and the key problems are all the fault of Democrats.

And the wisdom of crowds is incorrect. The media hasn't done it's job and explained 1) the Community Reinvestment Act and how the Democrats pushed for even more forced loans to people who wouldn't normally qualify for them (this goes back to Clinton's time), 2) how the Democrats fought Bush's reform efforts, 3) how much money the Democrats who led Fannie Mae/Freddie Mac pulled out for themselves ($200+ million), and 4) how two of the top four people at Fannie Mae are top financial advisers to Obama.

It's clear that Bush and McCain tried to fix this and the Democrats, who created the problems, fought to keep our financial system on the brink of disaster.

If you want to learn about this, click on the link above and the video link from my other post.
Depot Jim

Winnetka, IL

#6 Sep 26, 2008
Washington Mutual ran those ads in television (that could be called racist) that had a group of old white bankers blocking new changes in banking services. It seems that if Washington Mutual had listened to those old bankers they would not have had all the problems that ensued and would not have gone under.
sigh

Chicago, IL

#7 Sep 26, 2008
sadly, the company collapsed, but someone is still gonna want a credit card payment from me every month...
Mr Pragmatic

Schaumburg, IL

#8 Sep 26, 2008
Depot Jim wrote:
Washington Mutual ran those ads in television (that could be called racist) that had a group of old white bankers blocking new changes in banking services. It seems that if Washington Mutual had listened to those old bankers they would not have had all the problems that ensued and would not have gone under.
I hated those lousy commercials, with the black guy who looked like a cross between Obama and Tiger Woods, showing up those evil white males. F them all!
jaric swedinski

Lincolnshire, IL

#12 Sep 26, 2008
does it ever gonna end??!!!!
Madame

Chicago, IL

#13 Sep 26, 2008
So much for locking those stodgy bankers in a pen....
jon maloy

Elgin, IL

#14 Sep 26, 2008
Globalist Agenda wrote:
YES!!!!!!!!!! The bank that financed Hitler will be able to post more swastika's around Chicago. God I love our Federal Reserve system.
See it's not so bad. There are plenty of bargains out there for solid companies to buy right up. At greatly reduced costs. Let it go, the war is over for a long time now. Stop living in the past, it isn't healthy.
Spector

Chicago, IL

#15 Sep 26, 2008
Frank Miller wrote:
This is unfortunate, but it should serve as a wake up call to all American investors. If you want to protect your money, you need to diversify and invest at least some of it overseas. These are hard times for American investing firms. I personally use offshore bank accounts and they have helped me with diversification and asset protection. If you want to read more on why offshore investing is smarter, feel free to visit my website.
Best,
Frank Miller
http://www.theoffshorebankaccount.com
Beware of Texans bearing offshore gifts....
Depot Jim

Winnetka, IL

#16 Sep 26, 2008
Madame wrote:
So much for locking those stodgy bankers in a pen....
The stodgy bankers were right.
Spector

Chicago, IL

#17 Sep 26, 2008
Mr Pragmatic wrote:
<quoted text>
I hated those lousy commercials, with the black guy who looked like a cross between Obama and Tiger Woods, showing up those evil white males. F them all!
Yes! At least those awful "old greedy white bankers" ads will end. The one where they were standing naked was just nauseating to watch.

Maybe the black guy in the cheap blue WaMu polo shirt caused the bank to go under? So much for another 'old whitey=dumb and bad' commercial. Thankfully.
Bill Clinton

Gardner, IL

#18 Sep 26, 2008
Alz, the Republicans had the majority in Congress at the time Bush's "reform efforts" were fought by the evil Democrats. Instead they did nothing.

Washington Mutual died because of greed, not because of the CRA. The CRA is supposed to help people buy homes - and that's a bad thing? If these insolvent banks had more self control, they would still be in business.
Globalist Agenda

United States

#19 Sep 26, 2008
jon maloy wrote:
<quoted text>See it's not so bad. There are plenty of bargains out there for solid companies to buy right up. At greatly reduced costs. Let it go, the war is over for a long time now. Stop living in the past, it isn't healthy.
You're right. I will continue to passivley accept our present context with blissful delight. Just let me drink another cup of fluroidated water to sooth the nerves.
PJR

Germany

#20 Sep 26, 2008
This thing was really spun.

The press releases made it sound like a normal commercial transaction.

LIARS!!!!

“What type of f--kery is this??”

Since: Dec 07

South Shore/Chatham

#21 Sep 26, 2008
The key problems with the mortgage crisis is all the Democratics fault? It had NOTHING to do with deregulation and even the hell that started in the 80s with the S&L scandal that was a REPUBLICAN ISSUE?!?!

Begone with that mess!
Alz wrote:
Here is more on the root cause of this financial mess:
http://directorblue.blogspot.com/2008/09/root...
This is one case where the problem can easily be traced back to a series of events - and the key problems are all the fault of Democrats.
And the wisdom of crowds is incorrect. The media hasn't done it's job and explained 1) the Community Reinvestment Act and how the Democrats pushed for even more forced loans to people who wouldn't normally qualify for them (this goes back to Clinton's time), 2) how the Democrats fought Bush's reform efforts, 3) how much money the Democrats who led Fannie Mae/Freddie Mac pulled out for themselves ($200+ million), and 4) how two of the top four people at Fannie Mae are top financial advisers to Obama.
It's clear that Bush and McCain tried to fix this and the Democrats, who created the problems, fought to keep our financial system on the brink of disaster.
If you want to learn about this, click on the link above and the video link from my other post.
mike

United States

#22 Sep 26, 2008
Globalist Agenda wrote:
<quoted text>
You're right. I will continue to passivley accept our present context with blissful delight. Just let me drink another cup of fluroidated water to sooth the nerves.
you better get into your bomb shelter and take in all that radon gas that helps you feel better. lol
Turbo

Chicago, IL

#23 Sep 26, 2008
Spector wrote:
<quoted text>
Yes! At least those awful "old greedy white bankers" ads will end. The one where they were standing naked was just nauseating to watch.
Maybe the black guy in the cheap blue WaMu polo shirt caused the bank to go under? So much for another 'old whitey=dumb and bad' commercial. Thankfully.
Was thinking the same thing. Those commercials were AWFUL. The worst was when they brought on the "Whoo-hoo" tagline.

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