WaMu is gone =(

[bugzy]

JP Morgan Chase acquired WaMu

accord to articles, looks like WaMu took a huge hit when customers withdraw most of the $$ since Sept 16th :( ouch

http://www.bloomberg.com/apps/news?pid=20601087&sid=aCpGk.NPYZ3g&refer=home

[oc-audica]

I wonder where we will be in 4 years

[ncttrnl]

I wonder where we will be in 4 years

September 26th, 2012 is a Wednesday.

I'll probably be at work.

[DarkstaR]

I wonder where we will be in 4 years

We won't be here in 4 years. :)

[bugzy]

we got a lot of rocky roads coming from financial sector

[huitzi]

yeap, i told my dad about the situation wamu was in and he closed his accounts about a month ago. im doing the same next week and going to bank of america

[bugzy]

well those that have WaMu, will probably transition into Chase bank

[mike]

Wamu will become JP Morgan. I was down at Wamu this morning making a couple of deposits, all the depression era old people were taking out all their money. Which just makes it worse, I posted up a post about this a month or so ago. I knew it was going to happen, but then again, everything is federally backed to a certain extent, and the government isn't going to let the countries largest banking operation fail completely. I checked on the stock this morning, down 90%, it was at a high of 5.30 last month, when I looked this morning, $0.16!

[paultakeda]

Chase is a solid bank. Be glad. ;)

[DTolo]

I got some word this morning, apparently BofA is very trusted. They have recently had in a single day, $9 billion in deposits! I bet a lot of that was formerly in WaMu.

at .16 a share, it is maybe worth it to put just $100 in WaMu stock... even if it gets bought out by someone else, you could turn a profit. It only has to to raise .16/share to double your money... hmm...

I don't get it tho, WaMu has the assets to cover more that it's liabilities.. but like Mike said... knee jerk reaction of Americans want to withdrawl all their money. If you got less than $100k, STOP IT! YOUR MAKING IT WORSE!

[mike]

I don't know if the existing shares will be absorbed by JP, which is what I imagine what will happen, since Wamu only exists now on the title of your checks and debit cards. Then again, the stock has taken such a nose dive, it my just get yanked, then your assed out. The rumor is that Wamu's title will file for bankruptcy by days end........................

[oc-audica]

Hmmmm

[Anonymous]

$18,060,000 for 3 weeks of work (http://money.cnn.com/2008/09/26/news/companies/fishman_wamu/?postversion=2008092613)

<snip>
NEW YORK (CNNMoney.com) -- Washington Mutual Chief Executive Alan Fishman could walk away with more than $18 million in salary, bonuses and severance after less than three weeks on the job, according to the terms of his employment agreement.

[paultakeda]

$18,060,000 for 3 weeks of work (http://money.cnn.com/2008/09/26/news/companies/fishman_wamu/?postversion=2008092613)

<snip>
NEW YORK (CNNMoney.com) -- Washington Mutual Chief Executive Alan Fishman could walk away with more than $18 million in salary, bonuses and severance after less than three weeks on the job, according to the terms of his employment agreement.

Let him. That was his signed contract. And we can't say it's a golden parachute as he's only been on the job three weeks.

[ncttrnl]

at .16 a share, it is maybe worth it to put just $100 in WaMu stock... even if it gets bought out by someone else, you could turn a profit. It only has to to raise .16/share to double your money... hmm...


It depends on how many shares of WaMu stock are out there and how much JP pays for them. That will determine if you make a profit when the shares get converted into JP Morgan stock. Most likely, you would make a profit. I already lost a grip of money on WaMu last year so I'm not going near their stock.

[madajb]

September 26th, 2012 is a Wednesday.

I'll probably be at work.

Sitting on a beach earning 20%.

-ajb
(Hey, I can dream, right?)

[ncttrnl]

Sitting on a beach earning 20%.

-ajb
(Hey, I can dream, right?)

If you're gonna dream... treat yourself to 21% and a couple Tropicana girls to fetch your margaritas.

"fetch your margaritas" could be a euphemism if you'd like. :p

[madajb]

If you're gonna dream... treat yourself to 21% and a couple Tropicana girls to fetch your margaritas.

True, but you have to imagine it in a bad German accent (http://www.killerclips.com/clip.php?id=70&qid=619).

Margarita girls for everyone!

-ajb

[Monster8V]

We won't be here in 4 years. :)


Your right. All the doom and gloomers should start heading south to Mexico. We all know they will be the worlds financial superpower in 4 years!

99 year lease! Hit em up!! :tup:

[GTIcrazy]

Chase is a solid bank. Be glad. ;)

He's right. Chase is solid. If it plays out they way they want, Bank of America and Chase will be huge world financial powers in about 5 years. They are making acquisitions for pennies on the dollar right now.

The WaMu next to my house opened today with a Chase sign up.

[DTolo]

GODDAMIT!!!!!!!

I can't buy anything till Monday AND!!! WAMU Stock has gone up 956% since the market closed!

Had I invested $100 in WaMu at .16/share, I'd have $956 as long as it held till Monday in time to sell.

I am still gonna buy stock on Monday!


...I think.

[ncttrnl]

GODDAMIT!!!!!!!

I can't buy anything till Monday AND!!! WAMU Stock has gone up 956% since the market closed!

Had I invested $100 in WaMu at .16/share, I'd have $956 as long as it held till Monday in time to sell.

I am still gonna buy stock on Monday!


...I think.

There is a trading hold. Don't you find it odd it went up after hours by the same exact amount it dropped during the day? You're probably not seeing an accurate price because of the hold.

[bugzy]

I saw $0.13 earlier, its at $1 something right now

*shrugs*

[mike]

Afterhours trading is all speculation. Most of the time, it can be a bet or you have some insight on to whats going on behind closed doors after hours. The stock went down so fast earlier, I thought they may yank it off the market.

[EDM]

Wells Fargo FTW!!

[DTolo]

If it is open to buy on Monday, I'm likely getting some.

[SoCal_GLI]

i guess this means i wont be getting that platinum card....LOL

[Ivan]

I bank at cal national... is that... baaaad?

[RavinJetta]

WAMU is at .15 right now. 1 cent less than Firdays close