I'm a grumpy bear and not optimistic, but I know the government(s) will pull out all the stops to avoid a complete meltdown. If they need to change the laws, they will. If they need to write off hundreds of billions to the taxpayers, they will. If they need to create 20% inflation, they will. I think they'll miss the big on though. My fear is that in doing all they will do to put out one fire at a time to keep things functioning, they will lose credibility, and that's *really* hard to fix.
wamu / bank failures?
- Thread starter queenlives
- Start date
If the derivatives get "called in" it won't matter where your money is we will all be screwed. It won't happen and leave a safe place to be. It won't happen.
+1!
one fire at a time keeps you from working on a fire that may put itself out without you.
I use to get pissed at people who would do shit page by page. They wouls stop at the first problem and bring that to me and say, "when you solve this I will continue on." Man that would piss me off. Why not look through the whole damn thing and bring me all the problems at once? Well what if they spend all their time doing just that and I can't solve one of the problems. Now they wasted their time. I solve the problems that come at me one at a time now. I now have more time on my hands as I am not woking on problems that may solve themselves. As I have noticed...a lot of problems do resolve without input.
lucky guess on my part re price, but it's still not a buy:
WM Washington Mutual Inc (NYSE)
Last:
7.85 Change:
-0.76 Open:
8.49 High:
8.50 Low:
7.80 Volume:
22,583,941
Percent Change:
-8.83% Yield:
0.51% P/E Ratio:
n/a 52 Week Range:
8.51 to 44.19
steveny,
ok, i'm at the point where i'm wondering if i should pick up some wm - any specific thoughts you can offer are appreciated.
hal
refresher:
"WM Washington Mutual Inc (NYSE) Delayed quote data 6/11/2008 10:41 AM
hide quote detailed quote options chain
chart help Help on Quick Charts
Last:
5.78 Change:
-0.90 Open:
6.74 High:
6.77 Low:
5.75 Volume:
37,317,329
Percent Change:
-13.47% Yield:
0.69% P/E Ratio:
n/a 52 Week Range:
6.01 to 44.19"
ok, i'm at the point where i'm wondering if i should pick up some wm - any specific thoughts you can offer are appreciated.
hal
refresher:
"WM Washington Mutual Inc (NYSE) Delayed quote data 6/11/2008 10:41 AM
hide quote detailed quote options chain
chart help Help on Quick Charts
Last:
5.78 Change:
-0.90 Open:
6.74 High:
6.77 Low:
5.75 Volume:
37,317,329
Percent Change:
-13.47% Yield:
0.69% P/E Ratio:
n/a 52 Week Range:
6.01 to 44.19"
gotcha, thx.
Ski_Banker
Suspended
bump for steve. :tongue:
Ski_Banker
Suspended
http://www.bloomberg.com/apps/news?pid=20601087&sid=aJnm4ytT0T7U&refer=home
Some guys that actually know what's going on with this economy will sit quietly in the corner, keeping their thoughts to themselves.
I'm not one of those guys. You're welcome SteveNY. Who's "full of shit" now? (to use RyanMCDs terminology)
Some guys that actually know what's going on with this economy will sit quietly in the corner, keeping their thoughts to themselves.
I'm not one of those guys. You're welcome SteveNY. Who's "full of shit" now? (to use RyanMCDs terminology)
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Yeah you are so smart with that big placement of money you put short. Anyone can talk but you placed no trades and shorted nothing. I thought we already took care of this through PM. I thought you wanted to drop it because you didn't want to be called out? Dude quit while you are ahead, well it's impossible for you to get ahead if all you do is predict and don't trade.
Ski_Banker
Suspended
You're right Steve, I did PM you two weeks ago to say "lets drop it" because I had no interest in playing kindergarten games online. I never heard back so apparently you were in agreement then too.
Why did I bring this up again then?
Because I'm bored tonight. Gotta love capitalism!!!
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lol Round 2. I was thinking sell off after the fed as well but did not act on it due to not trading stocks. I did act in the futures markets and still post most of my trades real-time in the "How about that stock market" thread. I will say when people start to lose they stop posting, get a job, or go over seas lol :biggrin:
well, dang:
http://www.marketwatch.com/tools/quotes/news.asp?symb=ncc&siteid=&doctype=2006
and me left holding wm that i bought at 5.50ish
http://www.marketwatch.com/tools/quotes/news.asp?symb=ncc&siteid=&doctype=2006
and me left holding wm that i bought at 5.50ish
What is the FDIC's position on multiple accounts at the same financial institution e,g, you have 100K in each account at a branch in a:
1) Money Market account.
2) In a business checking account
3) In a savings account.
All accounts are same account holder, but separate accounts. Would all be insured to the 100K max or would you only receive 100K for all accounts under FDIC?
1) Money Market account.
2) In a business checking account
3) In a savings account.
All accounts are same account holder, but separate accounts. Would all be insured to the 100K max or would you only receive 100K for all accounts under FDIC?
i think its 100k per branch(bank) not account.
remember how old that protection is, back the 100k was real money
Joint accounts are up to $200k, that is $100k per owner.
I heard "financial expert" say today that they thought it was not a matter of if WAMU would fail, but when. Do any of our more financially informed members have any thoughts on this issue?
so i bought at 5 and some change. now wamu is @ 3ish and other banks have closed, leaving depositors with amounts > the insured levels standing with their hands in their pockets.
my casual observation is it's going to get worse for wamu before it gets better.
Ski_Banker
Suspended
They're starting to drop like flies now. Volatility *creates* volatility in financial markets (and social markets, and political markets...).
Am I safe to assume the FDIC was setup to protect ONE bank failure?
I think I read they only keep 1.5% of the money they insure on hand.
I know they can't "fail" because our gov can simply raise our taxes, but doing that couldn't happen overnight could it? I mean, what happens when the FDIC gives out its last dollar?
I think I read they only keep 1.5% of the money they insure on hand.
I know they can't "fail" because our gov can simply raise our taxes, but doing that couldn't happen overnight could it? I mean, what happens when the FDIC gives out its last dollar?
Whats happening right now, wall streets welfare (wallfare) They expect the companies who did not screw up to pay for the ones who did. Some days I just want to be a bum.:smile:
Things aren't that complicated. Making money off them can be. We are entering a deflationary period. This means gold is not the solution to this particular crisis.
Several parts of the derivatives market need an exchange to trade on. Without an exchange being set up, we may be all going about our daily business on the deck of the titanic. The fed is a smart organization and have lots of resources, however they cannot stop the impending collapse if these securities fail or their market freezes. Even optimistic economists understand this.
There is a systemic risk out there that could cause a decade of turmoil. If/when that occurs, perhaps like after the great depression there will be an overhaul of the system and 80 years of progress will follow.
I can assure you this, there are some very, very nervous people who have to appear in control on TV that are not looking forward to the next few weeks.
In the short term, there are still a whole slew of large firms that cannot get the capital they need to function. If this isn't resolved quickly, they will be added to the list of the fallen (some giants), FNM, FRE, LEH, Indymac, Netbank, AIG, etc.
Unfortunately, we are barely 50% through the cycle of writing down losses. Hold on tight and make sure you know where the life boat is just in case.
Several parts of the derivatives market need an exchange to trade on. Without an exchange being set up, we may be all going about our daily business on the deck of the titanic. The fed is a smart organization and have lots of resources, however they cannot stop the impending collapse if these securities fail or their market freezes. Even optimistic economists understand this.
There is a systemic risk out there that could cause a decade of turmoil. If/when that occurs, perhaps like after the great depression there will be an overhaul of the system and 80 years of progress will follow.
I can assure you this, there are some very, very nervous people who have to appear in control on TV that are not looking forward to the next few weeks.
In the short term, there are still a whole slew of large firms that cannot get the capital they need to function. If this isn't resolved quickly, they will be added to the list of the fallen (some giants), FNM, FRE, LEH, Indymac, Netbank, AIG, etc.
Unfortunately, we are barely 50% through the cycle of writing down losses. Hold on tight and make sure you know where the life boat is just in case.
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