Comments on: Washington Mutual Failure and Collapse: WaMu Largest Savings and Loan Failure in U.S. History. The Rise and Fall of Washington Mutual. http://www.doctorhousingbubble.com/washington-mutual-failure-and-collapse-wamu-largest-savings-and-loan-failure-in-us-history-the-rise-and-fall-of-washington-mutual/ How I Learned to Love Southern California and Forget the Housing Bubble Fri, 09 Jan 2009 13:27:45 +0000 http://wordpress.org/?v=2.2.2 By: Big Bill http://www.doctorhousingbubble.com/washington-mutual-failure-and-collapse-wamu-largest-savings-and-loan-failure-in-us-history-the-rise-and-fall-of-washington-mutual/#comment-25217 Big Bill Tue, 30 Sep 2008 02:28:34 +0000 http://www.doctorhousingbubble.com/washington-mutual-failure-and-collapse-wamu-largest-savings-and-loan-failure-in-us-history-the-rise-and-fall-of-washington-mutual/#comment-25217 I found an excellent explanation of why the markets are failing. It is here at the London Review of Books by an economist who explains what all the shenanigans are about. His explanation is long, but it is imminently worth reading. http://www.lrb.co.uk/v30/n09/mack01_.html By the time you are finished you will understand why they are calling it a "liquidity crisis" and why they want someone (anyone!) to rescue them from the hole they have dug. They have bought a bunch of derivative sh!t based on bizarro mathematical models and have no idea what anything is worth anymore. Excellent article I found an excellent explanation of why the markets are failing.

It is here at the London Review of Books by an economist who explains what all the shenanigans are about.

His explanation is long, but it is imminently worth reading.

http://www.lrb.co.uk/v30/n09/mack01_.html

By the time you are finished you will understand why they are calling it a “liquidity crisis” and why they want someone (anyone!) to rescue them from the hole they have dug.

They have bought a bunch of derivative sh!t based on bizarro mathematical models and have no idea what anything is worth anymore.

Excellent article

]]> By: shareholder http://www.doctorhousingbubble.com/washington-mutual-failure-and-collapse-wamu-largest-savings-and-loan-failure-in-us-history-the-rise-and-fall-of-washington-mutual/#comment-25173 shareholder Mon, 29 Sep 2008 07:51:11 +0000 http://www.doctorhousingbubble.com/washington-mutual-failure-and-collapse-wamu-largest-savings-and-loan-failure-in-us-history-the-rise-and-fall-of-washington-mutual/#comment-25173 This is a sad day for all of us shareholders and employees of WaMu... we were robbed blind by the feds and no one said or did anything. Chase, like other firms were circling like vultures, waiting for the feds to move in. They all knew what was going on... this was the plan from beginning on the week of the take over... The run on the bank was caused by the media and not one agency thought of regulating them or to set the record straight... they let the run on the bank happen right in front of their eyes. Former CEO Kerry Killinger was so selfish and dumb enough not to sell at $8 per share before turning to TPG and investors for money. He was too concerned about his own legacy and income that he forgot what his job functions were and who he wrote his paychecks. Oh and he was paid over $22 million in separation package. And now Alan Fishman will get paid over $18 million dollars for three weeks of work? humm… since he failed to do his job as a CEO to secure the company... should he be compensated $18 millions? Oh and Stephen Rotella (President and COO) is getting his $12 million plus package for doing what? Running WaMu into the grounds? This is on top of his millions in bonuses. Are they serious? We need to stand up... Open up your eyes people... this just doesn’t happen over night. Everyone in the executive team of WaMu should be held accountable along with the feds who led this take over without any recourse or consideration for the employees' retirements, public pensions and share holders. This is a sad day for all of us shareholders and employees of WaMu… we were robbed blind by the feds and no one said or did anything. Chase, like other firms were circling like vultures, waiting for the feds to move in. They all knew what was going on… this was the plan from beginning on the week of the take over…

The run on the bank was caused by the media and not one agency thought of regulating them or to set the record straight… they let the run on the bank happen right in front of their eyes.

Former CEO Kerry Killinger was so selfish and dumb enough not to sell at $8 per share before turning to TPG and investors for money. He was too concerned about his own legacy and income that he forgot what his job functions were and who he wrote his paychecks. Oh and he was paid over $22 million in separation package.

And now Alan Fishman will get paid over $18 million dollars for three weeks of work? humm… since he failed to do his job as a CEO to secure the company… should he be compensated $18 millions?

Oh and Stephen Rotella (President and COO) is getting his $12 million plus package for doing what? Running WaMu into the grounds? This is on top of his millions in bonuses.

Are they serious? We need to stand up… Open up your eyes people… this just doesn’t happen over night.

Everyone in the executive team of WaMu should be held accountable along with the feds who led this take over without any recourse or consideration for the employees’ retirements, public pensions and share holders.

]]> By: DAve http://www.doctorhousingbubble.com/washington-mutual-failure-and-collapse-wamu-largest-savings-and-loan-failure-in-us-history-the-rise-and-fall-of-washington-mutual/#comment-25105 DAve Sun, 28 Sep 2008 00:05:38 +0000 http://www.doctorhousingbubble.com/washington-mutual-failure-and-collapse-wamu-largest-savings-and-loan-failure-in-us-history-the-rise-and-fall-of-washington-mutual/#comment-25105 I read yesterday that the bailout amount ($700 B) is just equal to our foreign aid bill for a year. I had no idea we were so generous, did you? What does it buy us exactly? Certainly not that "respect" that Obama claims would protect us from further terrorist attacks- We're suckas. *Windfall profits tax on Big Finance!!!* I read yesterday that the bailout amount ($700 B) is just equal to our foreign aid bill for a year.

I had no idea we were so generous, did you? What does it buy us exactly? Certainly not that “respect” that Obama claims would protect us from further terrorist attacks-

We’re suckas.

*Windfall profits tax on Big Finance!!!*

]]> By: John http://www.doctorhousingbubble.com/washington-mutual-failure-and-collapse-wamu-largest-savings-and-loan-failure-in-us-history-the-rise-and-fall-of-washington-mutual/#comment-25099 John Sat, 27 Sep 2008 21:01:31 +0000 http://www.doctorhousingbubble.com/washington-mutual-failure-and-collapse-wamu-largest-savings-and-loan-failure-in-us-history-the-rise-and-fall-of-washington-mutual/#comment-25099 What an odd couple - A Republican President (who betrayed his conservative principles) and the Democrat Congress (who was hijacked by the liberals) are using our money (through taxes or borrowing) to help a few fat cats in the Wall Street who made huge profits! If the majority of the Republican Congressmen (the true conservatives) and a small portion of the Democrat Congressmen (the true conservatives) join together this "taxpayer-support-of-the-fat-cats" bill will never pass. So call your congressmen and tell to start from zero. Tomorrow is not the end of the world! P.S. Rep. Nancy Pelosi (D), Sen. Reid (D) and Pres. George Bush (R) - a mighty threesome - who would have thought. What an odd couple - A Republican President (who betrayed his conservative principles) and the Democrat Congress (who was hijacked by the liberals) are using our money (through taxes or borrowing) to help a few fat cats in the Wall Street who made huge profits!

If the majority of the Republican Congressmen (the true conservatives) and a small portion of the Democrat Congressmen (the true conservatives) join together this “taxpayer-support-of-the-fat-cats” bill will never pass.

So call your congressmen and tell to start from zero. Tomorrow is not the end of the world!

P.S. Rep. Nancy Pelosi (D), Sen. Reid (D) and Pres. George Bush (R) - a mighty threesome - who would have thought.

]]> By: js http://www.doctorhousingbubble.com/washington-mutual-failure-and-collapse-wamu-largest-savings-and-loan-failure-in-us-history-the-rise-and-fall-of-washington-mutual/#comment-25089 js Sat, 27 Sep 2008 16:30:09 +0000 http://www.doctorhousingbubble.com/washington-mutual-failure-and-collapse-wamu-largest-savings-and-loan-failure-in-us-history-the-rise-and-fall-of-washington-mutual/#comment-25089 Did anyone watch the Mccain/Obama debate? Boring as anything I know. But figures quoted by Obama in the debate basicaly revealed that the cost of the bailout is more than the entire cost of the Iraq war, and it seems to be true!!! (they both seemed to be for the bailout) http://zfacts.com/p/447.html There's a MASSIVE wealth transfer going on at we speak now folks. It may or may not benefit people who bought houses they couldn't afford. It WILL benefit the banks and investors that financed the whole thing. Did anyone watch the Mccain/Obama debate? Boring as anything I know. But figures quoted by Obama in the debate basicaly revealed that the cost of the bailout is more than the entire cost of the Iraq war, and it seems to be true!!! (they both seemed to be for the bailout)

http://zfacts.com/p/447.html

There’s a MASSIVE wealth transfer going on at we speak now folks. It may or may not benefit people who bought houses they couldn’t afford. It WILL benefit the banks and investors that financed the whole thing.

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