Thar She BLOWS: FDIC Seizes WaMu Sells Deposits to Government buddy JP Morgan!

[fedup100]

$50.00 for a loaf of bread​

 

[Sir VotesALot]

And we're still giving billions of dollars in aid to foreign countries... amazing.

 

[recess]

Does anyone know if Wachovia is on the ropes as well? would it be a good idea to pull all my savings out of there?

 

[Thrashertm]

Does anyone know if Wachovia is on the ropes as well? would it be a good idea to pull all my savings out of there?

Wachovia is rumored to be one of the banks in deep trouble - they over extended themselves on mortgages. I don't know if the govt bailout will save them - not sure how much time they have, since it appears the govt decided to blow WaMu out of the water to help them push the bailout through. It seems fairly arbitrary.

http://ml-implode.com/ This is a good site to monitor the situation

 

[recess]

Thanks for the information

 

[georgiapeach]

All I have seen on Wachovia has been rumors and speculation. It doesn't sound good, but I can't verify. Sorry I can't help you more than that.
Some of you were saying that JPM bought Wamu for an undisclosed sum. Bloomberg is now saying that JPM bought it for 1.9B. Why do I get the feeling they got a little help with that somehow?

 

[devil21]

All I have seen on Wachovia has been rumors and speculation. It doesn't sound good, but I can't verify. Sorry I can't help you more than that.
Some of you were saying that JPM bought Wamu for an undisclosed sum. Bloomberg is now saying that JPM bought it for 1.9B. Why do I get the feeling they got a little help with that somehow?

According to a Yahoo article I read a bit ago, JPMorgan only bought Wamu's deposit accounts and assets, nothing else. All the loans, credit cards, MORTGAGES, etc. are still on Wamu's books so who knows what will happen there.

 

[ihsv]

Am I the only one, or does this seem surreal? I remember what it was like while 9/11 was going on; it just seemed ... well, surreal. That's kinda how I feel now.

 

[georgiapeach]

Am I the only one, or does this seem surreal? I remember what it was like while 9/11 was going on; it just seemed ... well, surreal. That's kinda how I feel now.

Yep! It's kind of like watching a trainwreck happen in super-slow motion. You can do absolutely nothing to stop it.

 

[Vote Waterman 2028]

Am I the only one, or does this seem surreal? I remember what it was like while 9/11 was going on; it just seemed ... well, surreal. That's kinda how I feel now.

see john stewart tonight, the speeches were almost identical by bush as well. lol classic john stewart.

 

[devil21]

Seems someone at WaMu didn't get the memo. Just got this email:

Hi devil21,

With kids back in school and a nip in the air, we’re suddenly reminded that the holidays are just around the corner.

Even if you’re not ready to hit the stores, you can cut down on holiday stress by saving a little extra cash today. With Online Savings at an amazing 4.00% APY and great rates on Money Market accounts, we have plenty of ways to kick your holiday savings into gear.

Learn more about your options and these great rates for saving for the holidays.

 

[HOLLYWOOD]

According to a Yahoo article I read a bit ago, JPMorgan only bought Wamu's deposit accounts and assets, nothing else. All the loans, credit cards, MORTGAGES, etc. are still on Wamu's books so who knows what will happen there.

That's the TOXIC Crap... TRILLIONS!

AND guess who's going to get stuck with that SHYT?

YEAP, WE THE PEOPLE! Okay, pay attention class, here goes...

The FED premamently loans all the money they want at JP Morgan($150 of BILLION), then the FDIC, which doesn't have any funds to cover the bank failures, seizes all of WaMu's liquid assets of $134 BILLION... the FED money premamently loaned to JP Morgan, is turned around, and the JP Morgan "CASH STASH" buys all the WaMu LIQUID ASSETS from the FDIC that seized were Today. JP Morgan hands over $134 BILLION (Classified to the Public) and the FDIC now has $134 BILLION to bailout all the other BANK failures coming down the PIPE. What's even SWEETER IN THIS 3 way covert deal: NO ONE NEVER KNEW... the FDIC was out of money and they don't have to go PUBLICLY to CONGRESS for the $150 BILLION they needed. WaMu's leftover $1.3 TRILLION in Debt goes to bankruptcy. The FDIC and FED caused this Wamu bankruptcy(expidited it) while lining the pockets of their partner in crimes, JP Morgan, and no one ever says anything. ALL on the "DOWN LOW"

Additionally, the media and financial institutions themselves excited the run on WaMu. Numbers are like $28 - $32 BILLION in deposits were pulled out of WaMu prior to this fire sale.

Sneaky Eh?

SHAM-WOWWWWWWWWWW!!!!!

JP Morgan. Washington DC's best friend since 1907, gets the CREAM that floated to the TOP, THE BEST CHERRIES... and the American Taxpayers - TRILLIONS in TOXIC DEBT.

That Economics degree from Princeton is paying off!

I Swear... Paulson, Bernake, Blair, Dodd, Shumer... all should be slowly pitched-fork by the people for TREASON, Colluding Corrupt Power GREED HACKS

 

[Mark]

Ok, I hate to ask this, but can someone please give me the crashing economy for dummies on this? I don't know squat about diposits, FDIC, or any of this.

A deposit is just the money someone has in a bank account.

The FDIC is the "Federal Deposit Insurance Corporation" - It's a U.S. government agency that acts like insurance if a bank goes out of business. It protects the money of bank account owners.
If you have $200 in a bank account and the bank goes out of business, the FDIC will pay you $200.


Your best bet may be to just search the Internet for what you want to know.


Here's a site that's like a dictionary for Financial terms: Investopedia.com


Here's a good 47 minute animated video to explain about money and why bankers control things: "Money As Debt " on Google Video.


A 42 minute video about the Federal Reserve: Creature From Jekyll Island - A Second Look at the Federal Reserve

 

[KMA-NWO]

OMGz0rz!!!!! RUN ON TEH BANKS NOW FOR YOUR MONIEZ GOGOGOGOGO!!!





No, but seriously, run your bank before you lose your money. This is the real deal. Your family come before some other poor sap depositor at your bank. The trick to surviving bank runs is to be one of the first to panic. Remember that.

 

[HOLLYWOOD]

OMGz0rz!!!!! RUN ON TEH BANKS NOW FOR YOUR MONIEZ GOGOGOGOGO!!!





No, but seriously, run your bank before you lose your money. This is the real deal. Your family come before some other poor sap depositor at your bank. The trick to surviving bank runs is to be one of the first to panic. Remember that.

The safest bets are looking like the local little banks that ALL live WITHIN their MEANS! Not over extending like the GREED WHORES like GOLDMAN SACHS.

Did you know GOLDMAN SACHS was called to the SEC to account for selling and then shorting their own toxic funds. LAST YEAR! Manipulating the market and investments and Nothing is done to them, but it shows the top 2 investment houses have IMMUNITY to do as they wish on Wall St.

They have the Politicans in their back pocket. Sheila Blair pulled another CIRCUS STUNT by PANICKING and Siezing WaMu's GOOD Assets and turning them over to their partners in CRIME on Wall St.

The Corruption and Collusion go FAR & DEEP between banks and government.

 

[ShowMeLiberty]

The safest bets are looking like the local little banks that ALL live WITHIN their MEANS! Not over extending like the GREED WHORES like GOLDMAN SACHS.

I have been more relieved every day lately that I stayed with my small local bank. Only six branch locations and all in a very limited geographic area. The nearest branch is a few miles away from home and it's not on my way anywhere so it's a special trip if I need to go there.

My husband has been asking for years why I kept using that bank after we moved further away from their locations - why not go somewhere more convenient? But I said I like this bank, and I do. I've always preferred small banks that treat customers like people not like numbers on a spreadsheet. Now I have even more reason to be happy I stayed.

 

[Sarge]

I agree on the smaller part. Like our credit union. Well run and sensible loans.

Not rewarding the elites who created the problems.

 

[Maverick]

It really pisses me off how the media hides or buries the important information. The headline on my CNN rss feed reads:

"WaMu bought by JPMorgan"

It's not until you get to the main article that it makes a mention of "federal regulators" seizing WaMu, and even then it's only the one mention.

 

[KMA-NWO]

yea, and in a systemic failure i'm sure all the small banks will go belly up. You'd have better chances tryin' to pick which 'big one' is anointed to never fail...

just deposit your cash in Mattress Savings & Loan, or Shovel Securities & Trust. It's not FDIC insured, but they have 100% reserve ratios so they'll always have your money no matter what! The FDIC is irrelevant anyway as it could never payoff a systemic failure of epic proportions without hyperinflating (considering the US Dollar is 100:1 leveraged).

EDIT: I just wanted to state for the record that I feel great glee for those whom, after hearing and reading all that is available on this systemic failure, keep their money in the system and lose their asses during a failure. This especially applies to non-FDIC insured deposits. If you still hold large sums of money in a bank, which isn't for bill paying, you're stupid. If you hold money in a non FDIC insured instrument, you're really stupid. Come on here and whine about it, I will LAFF hard at your stupid.

The safest bets are looking like the local little banks that ALL live WITHIN their MEANS! Not over extending like the GREED WHORES like GOLDMAN SACHS.

Did you know GOLDMAN SACHS was called to the SEC to account for selling and then shorting their own toxic funds. LAST YEAR! Manipulating the market and investments and Nothing is done to them, but it shows the top 2 investment houses have IMMUNITY to do as they wish on Wall St.

They have the Politicans in their back pocket. Sheila Blair pulled another CIRCUS STUNT by PANICKING and Siezing WaMu's GOOD Assets and turning them over to their partners in CRIME on Wall St.

The Corruption and Collusion go FAR & DEEP between banks and government.

 

[HOLLYWOOD]

Thar She BLOWS: FDIC Seizes WaMu Sells Deposits to Government buddy JP Morgan!

yea, and in a systemic failure i'm sure all the small banks will go belly up. You'd have better chances tryin' to pick which 'big one' is anointed to never fail...

just deposit your cash in Mattress Savings & Loan, or Shovel Securities & Trust. It's not FDIC insured, but they have 100% reserve ratios so they'll always have your money no matter what! The FDIC is irrelevant anyway as it could never payoff a systemic failure of epic proportions without hyperinflating (considering the US Dollar is 100:1 leveraged).

EDIT: I just wanted to state for the record that I feel great glee for those whom, after hearing and reading all that is available on this systemic failure, keep their money in the system and lose their asses during a failure. This especially applies to non-FDIC insured deposits. If you still hold large sums of money in a bank, which isn't for bill paying, you're stupid. If you hold money in a non FDIC insured instrument, you're really stupid. Come on here and whine about it, I will LAFF hard at your stupid.

But the Elitist/ZIONIST Media and Money shows say all our money is safe and NO ONE has lost any more...

Okay here's the latest numbers reported:

JP Morgan assume $307 BILLION in Loan Assets of WaMu(I don't know exactly what they mean, by this)...

JP Morgan will writeoff $31 BILLION in bad WaMu debt...

JP Morgan has a secondary stock offering for a total of raising $8 BILLION.

The Cheerleaders on the MONEY channels are still saying the FDIC is INSURING everyone, the FDIC Didn't have to spend any of it's reserves, AND the FDIC has plenty of reserves for the future... yeah right!

Lot's of PROPAGANDA going on by the Media, Money channels and their Websites

What they haven't mentioned: the $1.3 TRILLION in BAD DEBT still at WaMu and in Bankruptcy. Who picks this up? Sheila Blair, if you seize assets you seize the BAD ASSETS TOO!

Totally UNCONSTITUTIONAL... the U.S. government is writing their OWN policies, not only who to BAILOUT/INSURE and Who is left to Die, BUT, also, what part/department/asset, of a company survives and what parts die.

Total BS!

Caveat Emptor!