IndyMac Bank seized by federal regulators

[alphatarget1]

Originally posted by: nergee

Originally posted by: alphatarget1
Wachovia is the 4th largest bank in the US, they're not gonna fail like IndyMac does.

WM on the other hand.... I don't know.

Both Wachovia & Washington Mutual are loaded up to their eyeballs with Alt-A, liar loan garbage. Wachovia is at $13.13/sh while Washington Mutual is hanging on by their fingernails $5.25 a share.

Wachovia's CEO says the company plans to remain independent, despite rumors of a possible takeover. No one in their right mind would want to acquire them and besides, no one is big enough to take them under as JPMorgan did Bear Stearns. The FED will just come up with another shotgun type marriage to bail Wachovia out.


Treasury Sec. Henry Paulson said "Institutions Must Be Allowed To Fail". This is an admission the Fed is powerless to stop a credit implosion whether the Fed wants to do something about it or not. We have finally reached the point at which this fusking mess is too big to bail. All that remains at this point is the final numbers on how much taxpayers have to cough up when Congress gets involved and tries to make water run uphill......IMO

Wachovia holds 7% of all the deposits in the US... Banks that will fail are the smaller regional banks who have less leverage and is deeper in the hole with the subprime stuff. Wachovia is only doing bad because they bought Golden West, other parts of their business is still doing okay.

WB is about 11.69 a share, I lost 55% since I bought them at 26 a share . I'm keeping my CD with them, had one at 4.95% APY about 6 months ago and I'm keeping it there at 4.25%.

 

[SleepWalkerX]

Originally posted by: Dissipate

Originally posted by: Slew Foot
We should start a pool on the next bank to shut down.

WAMU? Wells? Wachovia? Suntrust?

I predicted Wells is going down awhile back. I'm sticking to my guns. This show has just started.

I think WaMu will be next, followed by Wachovia imho. I don't think Wells will fail anytime soon, but perhaps it will much further down the road.

 

[smack Down]

Originally posted by: alphatarget1

Originally posted by: nergee

Originally posted by: alphatarget1
Wachovia is the 4th largest bank in the US, they're not gonna fail like IndyMac does.

WM on the other hand.... I don't know.

Both Wachovia & Washington Mutual are loaded up to their eyeballs with Alt-A, liar loan garbage. Wachovia is at $13.13/sh while Washington Mutual is hanging on by their fingernails $5.25 a share.

Wachovia's CEO says the company plans to remain independent, despite rumors of a possible takeover. No one in their right mind would want to acquire them and besides, no one is big enough to take them under as JPMorgan did Bear Stearns. The FED will just come up with another shotgun type marriage to bail Wachovia out.


Treasury Sec. Henry Paulson said "Institutions Must Be Allowed To Fail". This is an admission the Fed is powerless to stop a credit implosion whether the Fed wants to do something about it or not. We have finally reached the point at which this fusking mess is too big to bail. All that remains at this point is the final numbers on how much taxpayers have to cough up when Congress gets involved and tries to make water run uphill......IMO

Wachovia holds 7% of all the deposits in the US... Banks that will fail are the smaller regional banks who have less leverage and is deeper in the hole with the subprime stuff. Wachovia is only doing bad because they bought Golden West, other parts of their business is still doing okay.

WB is about 11.69 a share, I lost 55% since I bought them at 26 a share . I'm keeping my CD with them, had one at 4.95% APY about 6 months ago and I'm keeping it there at 4.25%.

How does having large amounts of deposits help them? Like all banks they are one bad news story away from a run on the bank. They have no wear near the reserves to cover that.

 

[nergee]

...."I lost 55% since I bought them at 26 a share ".....Shouldn't that alone be raising some kind of red flag? Again, if
you are over the FDIC limit, do something about it.......now....

 

[dmcowen674]

Originally posted by: z0mb13

Originally posted by: Dissipate

Originally posted by: Slew Foot
We should start a pool on the next bank to shut down.

WAMU? Wells? Wachovia? Suntrust?

I predicted Wells is going down awhile back. I'm sticking to my guns. This show has just started.

wells as in wells fargo?

do they even have a mortagage unit?

wells fargo will be fine. it is probably one of the healthiest banks.

Yes, they had a Mortgage unit. They stared closing them down last year.

I predicted Wells to fail back in Jan 2007 when I predicted CountryWide's demise.

I don't know how Wells has been hanging in there.

Wachovia is on the brink too.

 

[dmcowen674]

Originally posted by: nergee

Originally posted by: alphatarget1
Wachovia is the 4th largest bank in the US, they're not gonna fail like IndyMac does.

WM on the other hand.... I don't know.

Both Wachovia & Washington Mutual are loaded up to their eyeballs with Alt-A, liar loan garbage. Wachovia is at $11.54/sh while Washington Mutual is hanging on by their fingernails $4.95 a share.

I don't know anything about WAMU other than their goofy old man commercials.

Where are they based out of?

 

[Engineer]

Originally posted by: dmcowen674

Originally posted by: nergee

Originally posted by: alphatarget1
Wachovia is the 4th largest bank in the US, they're not gonna fail like IndyMac does.

WM on the other hand.... I don't know.

Both Wachovia & Washington Mutual are loaded up to their eyeballs with Alt-A, liar loan garbage. Wachovia is at $11.54/sh while Washington Mutual is hanging on by their fingernails $4.95 a share.

I don't know anything about WAMU other than their goofy old man commercials.

Where are they based out of?

Washington Mutual - HQ Seattle, Washington.

Type Public (NYSE: WM)
Founded 1889
Headquarters Seattle, Washington
Key people Kerry Killinger, CEO
Industry Finance and Insurance
Products Consumer Banking
Financial Services slogan = Whoo hoo!?
Revenue $15.962 billion USD
Employees 60,798
Subsidiaries WaMu Investments, Inc; Washington Mutual Insurance Services; Washington Mutual Card Services
Website http://www.wamu.com/

Good sized company....

 

[dmcowen674]

Originally posted by: Engineer

Originally posted by: dmcowen674

Originally posted by: nergee

Originally posted by: alphatarget1
Wachovia is the 4th largest bank in the US, they're not gonna fail like IndyMac does.

WM on the other hand.... I don't know.

Both Wachovia & Washington Mutual are loaded up to their eyeballs with Alt-A, liar loan garbage. Wachovia is at $11.54/sh while Washington Mutual is hanging on by their fingernails $4.95 a share.

I don't know anything about WAMU other than their goofy old man commercials.

Where are they based out of?

Washington Mutual - HQ Seattle, Washington.

Type Public (NYSE: WM)
Founded 1889
Headquarters Seattle, Washington
Key people Kerry Killinger, CEO
Industry Finance and Insurance
Products Consumer Banking
Financial Services slogan = Whoo hoo!?
Revenue $15.962 billion USD
Employees 60,798
Subsidiaries WaMu Investments, Inc; Washington Mutual Insurance Services; Washington Mutual Card Services
Website http://www.wamu.com/

Good sized company....

Wow 1889

Was quite a run.

 

[alphatarget1]

Originally posted by: smack Down

Originally posted by: alphatarget1

Originally posted by: nergee

Originally posted by: alphatarget1
Wachovia is the 4th largest bank in the US, they're not gonna fail like IndyMac does.

WM on the other hand.... I don't know.

Both Wachovia & Washington Mutual are loaded up to their eyeballs with Alt-A, liar loan garbage. Wachovia is at $13.13/sh while Washington Mutual is hanging on by their fingernails $5.25 a share.

Wachovia's CEO says the company plans to remain independent, despite rumors of a possible takeover. No one in their right mind would want to acquire them and besides, no one is big enough to take them under as JPMorgan did Bear Stearns. The FED will just come up with another shotgun type marriage to bail Wachovia out.


Treasury Sec. Henry Paulson said "Institutions Must Be Allowed To Fail". This is an admission the Fed is powerless to stop a credit implosion whether the Fed wants to do something about it or not. We have finally reached the point at which this fusking mess is too big to bail. All that remains at this point is the final numbers on how much taxpayers have to cough up when Congress gets involved and tries to make water run uphill......IMO

Wachovia holds 7% of all the deposits in the US... Banks that will fail are the smaller regional banks who have less leverage and is deeper in the hole with the subprime stuff. Wachovia is only doing bad because they bought Golden West, other parts of their business is still doing okay.

WB is about 11.69 a share, I lost 55% since I bought them at 26 a share . I'm keeping my CD with them, had one at 4.95% APY about 6 months ago and I'm keeping it there at 4.25%.

How does having large amounts of deposits help them? Like all banks they are one bad news story away from a run on the bank. They have no wear near the reserves to cover that.

Quick, let's all run to the bank and get all of our money out! Countrywide didn't fail when people made a run to the bank last year...

 

[alphatarget1]

Originally posted by: dmcowen674

Originally posted by: z0mb13

Originally posted by: Dissipate

Originally posted by: Slew Foot
We should start a pool on the next bank to shut down.

WAMU? Wells? Wachovia? Suntrust?

I predicted Wells is going down awhile back. I'm sticking to my guns. This show has just started.

wells as in wells fargo?

do they even have a mortagage unit?

wells fargo will be fine. it is probably one of the healthiest banks.

Yes, they had a Mortgage unit. They stared closing them down last year.

I predicted Wells to fail back in Jan 2007 when I predicted CountryWide's demise.

I don't know how Wells has been hanging in there.

Wachovia is on the brink too.

Wells Fargo will not fail. If banks like Wachovia goes broke you would have other stuff to worry about. A total meltdown of the finance system? :roll:

 

[Capitalizt]

Buy gold.
Buy silver.
Sleep tight.

 

[nergee]

Originally posted by: Capitalizt
Buy gold.
Buy silver.
Sleep tight.

These are the new currencies - energy, food and precious metals...

 

[Fern]

Originally posted by: brencat

Originally posted by: Vic
IndyMac was already doomed anyway. They were at the heart of the Alt-A and non-prime mortgage crisis.

+1

This company has been on Wall Street's shit list a while now and stock has been < $1 for some time. But I agree that Schumer should NEVER have mentioned the bank by name as that no doubt accelerated the day of reckoning.

+2

Their collapse is no surprise. A CA mortgage lender specializing in buyers with poor credit and no assets?

Fern