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  #21  
Old 09-26-2008, 02:26 PM
Pragmatist Pragmatist is offline
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Re: The biggest bank failure in history:

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Originally Posted by DividedThigh View Post
that worked out good for you prag, lol
yeah, I'm thinking I shouldn't be quite so happy that my bank failed.
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  #22  
Old 09-26-2008, 02:59 PM
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Re: The biggest bank failure in history:

lol. well chase picked them up for a song, the banking part wasnt the prob, the mortgage business was kaput, lol
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  #23  
Old 09-26-2008, 03:02 PM
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Re: The biggest bank failure in history:

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Originally Posted by DividedThigh View Post
lol. well chase picked them up for a song, the banking part wasnt the prob, the mortgage business was kaput, lol
right.

WAMU lost approximately 3.3 billion in the second quarter.
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  #24  
Old 09-26-2008, 03:03 PM
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Re: The biggest bank failure in history:

Did you all see that the CEO of WAMU Alan Fishman has only been on the job there for about 3 weeks and stands to make close to $18 Million as his compensation?

What a crazy amount of money for failing!
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  #25  
Old 09-26-2008, 03:05 PM
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Re: The biggest bank failure in history:

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Originally Posted by DividedThigh View Post
jt my friend , the wamu shareholders got notta out of the deal, they are mad, to say the least
Well they lost the money when the stocks fell and when we bought them out so I would bet they are PO'ed
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  #26  
Old 09-26-2008, 03:07 PM
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Re: The biggest bank failure in history:

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Originally Posted by JTULLOCK View Post
Did you all see that the CEO of WAMU Alan Fishman has only been on the job there for about 3 weeks and stands to make close to $18 Million as his compensation?

What a crazy amount of money for failing!
first of all, if he has only been there 3 months it isnt his failure.

second of all, the shareholders of WAMU ought to be trying to kill the board for agreeing to the deal.
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  #27  
Old 09-26-2008, 03:11 PM
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Re: The biggest bank failure in history:

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Originally Posted by Ferd View Post
first of all, if he has only been there 3 months it isnt his failure.

second of all, the shareholders of WAMU ought to be trying to kill the board for agreeing to the deal.
Doesn't matter. He was hired to save the company he didn't--it failed, he failed.

Shareholders have ownership but actually not alot of say it seems. When we bought Bear Stearns we agreed to 3 bucks a share or something the holders through a fit so we actually paid 10 bucks or something close. We didn't have to but we did. They cried loud, we listened and paid more. We could have ignored it and paid 3 a share.
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  #28  
Old 09-26-2008, 03:19 PM
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Re: The biggest bank failure in history:

Quote:
Originally Posted by JTULLOCK View Post
Doesn't matter. He was hired to save the company he didn't--it failed, he failed.

Shareholders have ownership but actually not alot of say it seems. When we bought Bear Stearns we agreed to 3 bucks a share or something the holders through a fit so we actually paid 10 bucks or something close. We didn't have to but we did. They cried loud, we listened and paid more. We could have ignored it and paid 3 a share.
my point here JT is that shareholders have own their gains and losses.

they have no power because they dont stand up.
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  #29  
Old 09-26-2008, 04:23 PM
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Re: The biggest bank failure in history:

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Originally Posted by Ferd View Post
my point here JT is that shareholders have own their gains and losses.

they have no power because they dont stand up.
right...I agree. Their voice is not loud enough. Often in business it is a good thing but sometimes it isn't.


have you read this??

http://seekingalpha.com/article/9755...k?source=yahoo
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  #30  
Old 09-26-2008, 04:59 PM
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Re: The biggest bank failure in history:

Now keep an eye on fifth third bank and Wachovia. They could be next.
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