Comments on: I hate to say it, but I told you so about Washington Mutual http://blownmortgage.com/2008/09/26/i-hate-to-say-it-but-i-told-you-so-about-washington-mutual/ #1 Free Home Loan Modification & Debt Relief Help For US Home Owners - Truths, Facts & News About the Mortgage Industry Mon, 09 Nov 2009 22:42:54 -0700 http://wordpress.org/?v=2.8.3 hourly 1 By: Toby http://blownmortgage.com/2008/09/26/i-hate-to-say-it-but-i-told-you-so-about-washington-mutual/comment-page-1/#comment-12892 Toby Sat, 27 Sep 2008 14:20:56 +0000 http://blownmortgage.com/?p=1382#comment-12892 The only people getting wiped out at WAMU are the shareholders. OK, not completely, they do get a buck and a half or so. The FDIC dodged a bullet on this one. However, there are no more American mega banks like Morgan/Chase to step in and take over.<br><br>If the Citigroup-Wachovia merger doesn't go through then we can expect Wacovia to become a division of a Chinese or Dubai bank. The only people getting wiped out at WAMU are the shareholders. OK, not completely, they do get a buck and a half or so. The FDIC dodged a bullet on this one. However, there are no more American mega banks like Morgan/Chase to step in and take over.

If the Citigroup-Wachovia merger doesn't go through then we can expect Wacovia to become a division of a Chinese or Dubai bank.

]]> By: Aaron Krowne http://blownmortgage.com/2008/09/26/i-hate-to-say-it-but-i-told-you-so-about-washington-mutual/comment-page-1/#comment-12891 Aaron Krowne Fri, 26 Sep 2008 19:47:16 +0000 http://blownmortgage.com/?p=1382#comment-12891 The final chapter hasn't been written on WaMu yet.<br><br>Billions in liabilities have been stashed somewhere. I'm not sure this was done "legally". Debt and shareholders may have valid complaints.<br><br>The JP Morgan value case depends on some massive, omnibus bailout plan passing, a-la Paulson. If it doesn't, there will be big fireworks. The final chapter hasn't been written on WaMu yet.

Billions in liabilities have been stashed somewhere. I'm not sure this was done “legally”. Debt and shareholders may have valid complaints.

The JP Morgan value case depends on some massive, omnibus bailout plan passing, a-la Paulson. If it doesn't, there will be big fireworks.

]]>