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I'm really debating on staying up till then. Was out all week due to sickness but felt a little better and got a chance to scan thru about 1500 post today. Wow what a day. Well hello taxxx my name is tax too.
Yanik,
Bet your family will be so proud of you after all of this is done. Just be patient and ride for a little bit more. I will tell you that it days like this that i dont really log on to my account and see how much is in the red but it the price after all said and done. Hope your family will get better and get to enjoy the many vacation that you will provide in the future. Good luck and we'll see what will happen in a day.
look like we are on our way up again
WOW been in meeting all morning, this is great!
JPM Settles with LEHMQ so we should be next then. Anything that i might have miss from this morning. Damn that a lot of post to try to catch up.
Par value stock has no relation to market value and, as a concept, is somewhat archaic. The par value of a stock was the share price upon initial offering; the issuing company promised not to issue further shares below par value, so investors could be confident that no one else was receiving a more favorable issue price.
Starting to gain the buying pressure momentum back. Should be seeing some huge block buy coming in then.
A lot of selling pressure right now. Waiting on the buy pressure for this to get pass .27...maybe after lunch.
BB-You have your wish there @.26. A lot of pattern are starting to surface and look at the 500K block buy several time.
Anyone notice the 500 shares traded.
500= Gap the stock. This gap can be either up or down, depending on the direction of the 500 signal. Today it up all day.
Close but not yet
02/24/10 10:06:51 0.254 0.253 0.254 500000
This is all BUY! Over 1M shares in less then one mins.
02/24/10 09:55:59 0.25 0.249 0.25 10000
02/24/10 09:55:59 0.25 0.249 0.25 5000
02/24/10 09:55:59 0.25 0.249 0.25 5000
02/24/10 09:55:59 0.249 0.249 0.25 10555
02/24/10 09:55:59 0.25 0.249 0.25 20000
02/24/10 09:55:59 0.25 0.249 0.25 74401
02/24/10 09:55:59 0.25 0.249 0.25 117925
02/24/10 09:56:34 0.249 0.2499 0.25 800
02/24/10 09:56:34 0.25 0.2499 0.25 5000
02/24/10 09:56:34 0.25 0.2499 0.25 10000
02/24/10 09:56:34 0.25 0.2499 0.25 132445
02/24/10 09:56:34 0.2499 0.2499 0.25 2000
02/24/10 09:56:34 0.25 0.2499 0.25 219000
02/24/10 09:56:34 0.25 0.2499 0.25 18000
02/24/10 09:56:34 0.25 0.2499 0.25 9000
02/24/10 09:56:34 0.25 0.2499 0.25 19200
02/24/10 09:56:34 0.25 0.2499 0.25 28500
02/24/10 09:56:35 0.25 0.2499 0.25 27000
02/24/10 09:56:35 0.25 0.2499 0.25 5000
02/24/10 09:56:35 0.25 0.2499 0.25 48000
02/24/10 09:56:35 0.25 0.2499 0.25 18800
02/24/10 09:56:35 0.25 0.2499 0.25 10000
02/24/10 09:56:35 0.25 0.2499 0.25 26000
02/24/10 09:56:35 0.25 0.2499 0.25 14000
02/24/10 09:56:35 0.25 0.2499 0.25 558248
02/24/10 09:56:35 0.25 0.2499 0.25 10000
02/24/10 09:56:35 0.25 0.2499 0.25 250000
02/24/10 09:56:36 0.25 0.2499 0.25 35000
02/24/10 09:56:36 0.2499 0.2499 0.25 1000
02/24/10 09:56:36 0.25 0.2499 0.25 49717
Big gain with no news is amazing, could anyone imagine when there is a hints of news coming out. It will be a big blast off, always happy with this kind of gain.
Also found one news out 15 hours ago.
The F.D.I.C. Mission to Face Problem Banks Early
Published: February 23, 2010
Killing zombies isn’t just a job for horror movie heroines. It’s also the primary task of Sheila C. Bair, the head of the Federal Deposit Insurance Corporation.
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Kimimasa Mayama/Bloomberg News
Shoppers in Tokyo. Growth is slow, but Japan's economy is in reasonable shape.
Ms. Bair’s challenge has increased as the number of so-called problem banks on the F.D.I.C.’s watch list has spiked. But there is little reason the F.D.I.C. can’t exterminate the banking industry’s living dead.
On Tuesday, the agency reported that 702 problem institutions were on its watch list as of the end of 2009. Those institutions had combined assets of $403 billion, or the equivalent of 3 percent of the nation’s economic output. While those figures may seem scary, the F.D.I.C. also managed to collect $46 billion in new cash from banks, bringing its total cash and liquid securities to $66 billion.
That may not seem to be much of a cushion. After all, the average estimated loss rate for bank failures since 2007 — excluding the collapse of the giant Washington Mutual — is 23 percent of assets.
Assuming no truly gigantic banks founder — that is, the ones considered “too big to fail” — the F.D.I.C.’s kitty is currently around $27 billion shy of being able absorb all its sick banks.
Not all of the banks on the F.D.I.C.’s list will be seized. Many banks work their way through difficulties, raise private capital or are taken over by healthier rivals. And the F.D.I.C. can levy another special assessment on banks before asking the taxpayer to pitch in. Add it all up, and the F.D.I.C. has no financial excuse to avoid cleaning up the mess.
Yet the pace of bank seizures — up by half so far this year — hasn’t kept pace with the growth of the problem bank list. The worry is that zombie banks will suck up deposits and hoard capital that might otherwise be lent out by healthy institutions.
The winter storms that closed down Washington this month complicated travel plans for F.D.I.C. staff members. But the main lesson from the savings-and-loan debacle of the 1980s and 1990s was that delays in closing insolvent banks increase resolution costs for the F.D.I.C. and, ultimately, taxpayers.
With spring around the corner, Ms. Bair needs to set her sights on a big zombie hunting trip.
Japan’s Recovery
The conventional wisdom is that Japan has never really recovered from the bursting of the stock market and real estate bubbles in 1990. That view is basically wrong.
Sure, prices have not recovered. The stock market is still almost 75 percent below its peak, and land prices are down 60 percent. After two decades of nearly stable consumer prices, the Japanese government is once again badgering the central bank to do something to create a bit of inflation.
This appeal, like so many before it, is likely to end inconclusively. Japan will continue with its longstanding pattern of near-stable prices, slow growth and gargantuan government deficits. But the economy is basically in pretty good shape.
While the economic growth — about 1 percent a year since 1990 — seems unimpressive, the number of people below retirement age has been shrinking by 0.4 percent a year. Annual growth in per capita gross domestic product in the United States over the same period was 1.4 percent — not much different from Japan’s.
Other economic indicators suggest Japan is managing pretty well. Even midrecession, car sales are only 20 percent less than at the 1990 peak.
Housing starts are down 50 percent, but the population was rising then and is declining now. The 5 percent unemployment rate is modest by Western standards. And the 1.4 percent yield on the 10-year government bond hardly seems a vote of no confidence in the government or the country.
The country’s financial burden — gross government debt at 200 percent of G.D.P. — could yet prove too much to bear for a rapidly aging and steadily declining Japanese population. But for now, Japan should be more a sign of hope than gloom for the United States, Britain and euro zone countries that have endured a severe financial collapse.
Japan had advantages in dealing with its financial collapse. It has a high savings rate, a big trade surplus and a powerful tradition of cultural and political unity. Few Western countries have all of these. Most also face almost Japanese-style demographic challenges. They will be fortunate to do as well as Japan.
tpg--here are many of the letter that you can copy and used it for you own to sent it to your congress representative. There are many like it but this is the first one that i found so far.
Dear Senator XXXXXXX,
I am writing to ask you to look into the FDIC seizure of Washington Mutual Corporation.
Shareholders, especially individual investors, were robbed by JP Morgan aided by the FDIC.
A little more than a week preceding the bank's seizure by the FDIC, shareholders had been assured by the then newly-appointed Washington Mutual CEO that the company was 'well capitalized' and could fund its operations until 2010. In short, there was no need to be concerned about bankruptcy. The company was then actively looking for a buyer and there were reports of interes from at least three major banks.
The other disturbing fact is that everyone knew that a new tax law was about to go into effect and that this law would allow potential bank acquirers to write off billions of dollars in bad debt. This would have made Washington Mutual a more suitable target for takeover by another banks, which is what shareholders were expecting. We all also knew that there was going to be additional relief from the 'bailout package' that was being discussed and voted on in congress.
Why didn't the FDIC give Washington Mutual and its shareholders a fair chance at weathering the storm and finding a solution acceptable to the organization and its shareholders? Apparently, the FDIC had stated that they did not want to have to deal with Washington Mutual's bad debt in case the company had initiated bankruptcy proceedings, but how could this well-capitalized company with interested takeover suitors declare bankruptcy?
Why did the FDIC make a deal with JP Morgan without including Washington Mutual, its Board of Directors and its shareholders and then proceed to seize the bank on a Thursday evening (apparently, they usually perform seizures over the weekend)?
What was the urgency of the Washington Mutual seizure?
The only real beneficiary is JP Morgan who only had to pay $1.7 Billion for all of Washington Mutual's banking operations (valued at several billion dollars) and also got to write of about $30 Billion in Washington Mutual's bad debt, effectively still leaving over $200 Billion in bad debt for the taxpayers to absorb through the FDIC.
The deal does not make sense and has angered most of us shareholders. This is fueled by today's events involving a bid by Wells Fargo to take over Wachovia Bank, which had previously almost succumbed to the same FDIC tactics with Citgroup being the beneficiary. Luckily, Wachovia fought back and their shareholders are smiling again. This shows a serious flaw in the judgment of the FDIC when they had practically wiped out Wachovia Bank's shareholder value.
I humbly ask you to look into this and come to the rescue of hardworking Americans who have invested their hard-earned money into the stock market and also to restore some confidence into this market so we do not risk losing our monies to government confiscation whenever the going gets tough. Companies should be allowed to determine their own destinies.
Thank You.
Sincerely,
I will try and find the letters to you. I would not recommend sending in a fax at all. It would look more official if you sent it snail mail and sign it.
Thanks Dragynn, you know back in the Jan-Mar of 2009, I did write to my congressmen and all i got was a generic letter back. The letter was comprise of everyone (dont know if it was Yhoo or Ihub board) putting a really good idea and data info into the package and of course i kinda copy and paste into my own and sent it in.
In-law recently just ask if i still got my money in Wamu, saying that i didnt lose it all yet are you? Told him about it way back in Dec 2008 to buy it. Told him that really just free shares from my profit that he should of made too. Very frustrated and kinda want this to be over so i can say nothing to him..I know it a typical slow day but just need to vent my frustration with everyone. Thanks
I wish i have money to load up some more but this is all i got so the bleeding is just killing me. Need some morale booster right now. I know it the end game that really matter but come on already.
Oilstrike-just wanted this thing to end so i can really concentrade on my next venture. After many sleepness night and still continue to have i really wont might for some R&R anywhere. Just really hope that the THJMW really know the game JPM/FDIC is playing and chose what is right.
..on othere note...I was really thinking about selling about 50 P's on Monday to pick up some U's today but i was too late...
That's what i have now ...lol...but it not streaming data at this moment. It keep telling me that it "logging in" and the window pop up for name and password required for access. Do you think the admin might block this stuff on my end. Again thanks for your help.
Sidedraft-thank you very much.
General question regarding trading platform--does anyone use any other free platform that pull the data from TDameritrade. For some reason i just cannot pull TDameritrade page up even with InPrivate Browsing window up. Please help!
Maybe after when the settlement payout i can invest in one of those Iphone or Droid to do mobile trading.
Can someone provide L2 please!
Normally i dont like to ask but for some reason my QuoteTracker and TDamex is really acting up. Dont know if the IT guys are catching up with me or not...lol
Legend-you can also used this site for your cap gain taxes when wamu hit big.
http://www.moneychimp.com/features/capgain.htm
FDIC/JPM will now have to think really hard this week if the possibility of the first offer settlement will be made before the court date on 05 Feb.
From Kirsten Grind via Twitter:
http://twitter.com/KirstenGrind
As #WaMu shareholders fight in Delaware bankruptcy court this afternoon, Sen. Cantwell talks about the bank's seizure on the Hill
I hope with the pressure from the Senator and the THJMW that this will speed thing up a little bit on settlement.
Audio file 9 is up
Need some cool nickname for you guys that are attending this meeting.
United States Bankruptcy Court
District of Delaware
824 Market Street, 5th Floor room #4
Wilmington, DE 19801
T: (302) 252-2900
You guys are going to have a big party after the hearing i see. Wish i can be there. Good luck guys and keep us updated.
Did anyone see this...I thought at first that it was a mistake. Somebody or some inst just drop $1.3 million for this. WOW 01/26/10 12:56:13 85.01 85.00 85.50 16076
What do you guy think about this...if The Huffington Post Charles Feldman and the EC Kenneth I. Feldman are related... hmmm. Maybe I'm just doing to much thinking over this.
http://www.huffingtonpost.com/charles-feldman/the-arrogance-of-too-big_b_418567.html
http://www.huffingtonpost.com/charles-feldman
http://www.ghostofwamu.com/documents/08-12229/08-12229-2130.pdf
Wonder if The Huffington Post Charles Feldman and the EC Kenneth I. Feldman are related... hmmm
http://www.huffingtonpost.com/charles-feldman
http://www.huffingtonpost.com/charles-feldman/the-arrogance-of-too-big_b_418567.html
http://www.ghostofwamu.com/documents/08-12229/08-12229-2130.pdf
NY Attorney General Wants Wall Street Bonus Data
http://www.cnbc.com/id/34808026/
New York's attorney general asked eight major U.S. banks to turn over data on planned bonuses for 2009, amid a growing public outcry over payouts in light of the industry's role in the near-collapse of the financial system and recession.
Bankers Bonus
iStockphoto
Andrew Cuomo made the demand Monday to the banks that were first to receive federal bailout money in the fall of 2008: Bank of America [BAC 16.91 0.13 (+0.77%) ], Bank of New York Mellon [BK 28.9501 -0.5799 (-1.96%) ], Citigroup [C 3.63 0.04 (+1.11%) ], Goldman Sachs Group [GS 170.80 -3.51 (-2.01%) ], JPMorgan Chase [JPM 44.4595 -0.2205 (-0.49%) ], Morgan Stanley [MS 31.89 -0.36 (-1.12%) ], State Street [STT 44.29 -1.22 (-2.68%) ] and Wells Fargo [WFC 28.64 -0.22 (-0.76%) ].
These banks have all repaid infusions taken from the government's much-maligned Troubled Asset Relief Program (TARP), though some of the U.S. investment in Citigroup has been converted into common stock.
In letters to the banks, Cuomo requested details by Feb. 8 about bonus pools, whether cash or stock is being used in awards, mechanisms designed to tie pay to performance, how TARP money affected the payouts, and whether any awards can be recouped in case the banks' fortunes later sour.
RELATED LINKS
Current DateTime: 10:58:16 11 Jan 2010
LinksList Documentid: 34808032
* Goldman Execs May Be Forced to Give More to Charity
* Banks Lift Executives' Salaries as They Cut Bonuses
* Time for Banks to Boost Bonuses: Silva
* All the Latest Headlines From CNBC.com
"Some banks made a lot of money because, in some cases, taxpayers gave them a lot of money," Cuomo said at a news conference. Citing the nation's 10 percent unemployment rate, he added: "The taxpayer is still paying that cost."
Cuomo said he favors bonuses that encourage business practices that can spur "long-term sustainable growth," not the "fictional" short-term profits that he said "brought this nation to its knees" in 2008.
Bonuses typically comprise the bulk of annual compensation for the most highly-paid bankers and traders, regularly reaching seven-figure and, occasionally, eight-figure sums.
The eight banks were not immediately available for comment.
While some bonuses may this year contain a larger percentage of stock, to reduce any temptation to take outsized risk, large payouts are likely to provoke the ire of Congress, governance critics and shareholders.
Many banks, in contrast, say high payouts are necessary to keep top talent that might otherwise defect to rivals.
White House spokesman Robert Gibbs said on Monday that some executives at Wall Street firms "continue not to get it" when it comes to big bonuses at banks that got taxpayer bailouts.
He declined to comment on news reports that the Obama administration is weighing a fee on banks to recoup more taxpayer funds spent on the financial system rescue.
A congressional commission is expected on Wednesday to begin a hearing into causes of the financial crisis, including whether the desire for high pay drove outsized risk-taking.
Speakers are expected to include Bank of America Chief Executive Brian Moynihan, Goldman Chief Executive Lloyd Blankfein, JPMorgan Chief Executive Jamie Dimon, and Morgan Stanley Chairman John Mack.
It's alright...thanks for all of your insight and post.
Always scroll down to see Lindi but one of these day i will probably get in trouble. Could use the SS first then Lindi...hahaha
He is following Kirsten not the other way around.
wow there is just a lot of posts today..thank you all for sharing your info and thought. Cant wait for the morning to come. Good night all!
LOL...Camp Wamu will be a blast! Thanks
If not this week.. i m still ok with that too...considering where we have been in the past year. Many of us was hoping to break the 52WH a couple of weeks ago..which we did and plus some. I can surely wait for the last week of Jan..I mean what another few weeks of sitting and waiting. Just like when i was in the army..hurry up and wait! It will happen eventually..still kicking myself that i sold some P to get some U last week.
You're right...my TDAmeritrade Command Center is all jack up then. Wish we can open with that 200 ask tomorrow....that will be an awesome day.
Hey US Army Ranger-Thanks for your service!!! Im not trying to make a buck or two but going for the 12 bucks on the U...hahaha.