Washington Mutual taken over by the Feds

[Veramocor]

Don't forget credit unions. They are in a much stronger position right now as is their federal insurance fund.

 

[dmcowen674]

Originally posted by: ZeroIQ

Originally posted by: dmcowen674

Originally posted by: ZeroIQ
I never said you were the cause of the mess I said people like you were the cause of WaMu to actually close it's doors.

Two weeks ago they had the liquidity to continue business as usual, albeit very cautiously... the people like you went and ripped all the liquidity out of it because of ignorance.

Bullshit

The people did nothing wrong.

It's disgusting how Corporate apologists jump on the common citizen every chance they get.

Bullshit.

Want to debate the validity of my point and quit spewing your partisan hackary? Are you capable of doing that?

WaMu had the asset liquidity (customer deposits) to continue doing business. Customers remove their deposits and wamu slowly loses liquidity which causes them to go under. Like it or not, WaMu's final straw was customer withdrawals.

That's a complete lie and you know it.

 

[ericlp]

Originally posted by: SagaLore

Originally posted by: Modelworks
How long before 'One bank to rule them all !"

Will never happen. Everyone is focusing on the top largest banks. There are thousands of smaller banks still doing quite well.

yeah, and half of the small ones arn't doing quite well.


Your comment is just as good as "banks are too big to fail" Guess what!

Also, WAMU was the biggest bank in history to fail. As many here said that Bear Sterns (a small bank) was nothing to worry about. I wonder.... are you worried now?

 

[pstylesss]

Originally posted by: dmcowen674

Originally posted by: ZeroIQ

Originally posted by: dmcowen674

Originally posted by: ZeroIQ
I never said you were the cause of the mess I said people like you were the cause of WaMu to actually close it's doors.

Two weeks ago they had the liquidity to continue business as usual, albeit very cautiously... the people like you went and ripped all the liquidity out of it because of ignorance.

Bullshit

The people did nothing wrong.

It's disgusting how Corporate apologists jump on the common citizen every chance they get.

Bullshit.

Want to debate the validity of my point and quit spewing your partisan hackary? Are you capable of doing that?

WaMu had the asset liquidity (customer deposits) to continue doing business. Customers remove their deposits and wamu slowly loses liquidity which causes them to go under. Like it or not, WaMu's final straw was customer withdrawals.

That's a complete lie and you know it.

You're right... I'm convinced. :roll:

EDIT:

Federal regulators say WaMu became unsound after customers withdrew $16.7 billion starting Sept. 16, during a seesaw week that ended with the U.S. government?s proposed $700 billion bailout of financial institutions. WaMu shares plummeted 60 percent this week before the Federal Deposit Insurance Corp. stepped in.

Source - Local left leaning paper... where WaMu was founded