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Exactly...
Right down to leaks telling the world WaMu would be seized on a Thursday. We all know banks are never seized in Thursdays, but somehow the media new it was coming. That could only have come from the OTS or the FDIC, unless of course JPM also knew and couldn't keep their mouths shut.
"Washington Mutual, the nation's biggest savings and loan, may be seized by regulators tonight and JPMorgan Chase & Co. may buy WaMu's deposits and branches, according to news reports."
http://blogs.usatoday.com/ondeadline/2008/09/reports-feds-to.html
The info was leaked... the run ensued. They blamed the run... even as they continued to leak. Then justified seizing the bank on a Thursday because the leaks were causing a run.
"The thrift's main supervisor, the U.S. Office of Thrift Supervision, had planned to declare Washington Mutual unsound on Friday, the normal day for bank closures, and turn it over to the FDIC for disposition, Bair said, but news leaks about the failure had begun to leak out, so the action was moved up a day."
http://pressherald.mainetoday.com/story.php?id=212248&ac=PHbiz
No matter how you look at it an investigation into these "leaks" should have been conducted and someone should have been held accountable for them.
That having been said, JPM has a 100 year history of leaking information to cause a panic and then to use said chaos to buy up competitors for next to nothing. History like to ignore that fact and pretend they're just the saviors of the United States.
Bair even said they came to Washington to help. She left off the fact that they helped themselves (with her help) to a 300 billion dollar bank for 1.9 billion dollars because of "leaks" that occurred on her watch. The whole thing is ridiculous.
"Once JPM knew they began looking for funding, so everyone they contacted also knew about it. It looks like the rumors of seizure caused the bank run. It wasn't the bank run that caused the seizure as the media would like us to believe."
Why was JPM told the bank would be seized before the run even began? Case Wide OPEN.
I'm sure you'll have some witty rebuttal, but uhm... here's reality.
Three weeks before J.P. Morgan bought WaMu’s deposits for $1.9 billion, officials at the Federal Deposit Insurance Corporation had called J.P. Morgan to say that the FDIC was carefully monitoring WaMu and that a seizure of its assets was likely. The FDIC said it would want to immediately auction off WaMu’s assets if a seizure was necessary, people familiar with the situation told Deal Journal.
http://blogs.wsj.com/deals/2008/09/29/how-jp-morgan-raised-115-billion-in-24-hours/
But the bank run was only 10 days long... from the 9/15-9/25.
"Starting Sept. 15, the day that Lehman filed for bankruptcy protection, WaMu's customers began heading for the exits. Over the next 10 days, they yanked a total of $16.7 billion in deposits, according to the Office of Thrift Supervision."
Yup, I've got to admit... I learned a lot about the stock market and how our financial system (doesn't) work(s) over this past winter. I made some great friends and learned a ton about putting videos together.
It's been cool... and thanks to whoever the person on here was that started screaming about the Ps and Hs back in the fall, I spent the winter cocked, loaded, and waiting for my riches. :)
You know it... Feels like it's been 2 years since we had a say like Sunday.
But what fun is that? It wouldn't make people mad enough to go throw tea in a river.
It's better to just give the money to the bankers so the rest of us can have something to do on the weekends.
Go get em Weil! It's so funny that they tried so hard to dance around how long they had WaMu's loan tapes and stuff. But they still shot themselves in the foot by reassuring their investors of all the time they had and the extent of the thorough job they did.
Any judge/jury that hears those words is going to have a hard time letting this all fall on the FDIC's shoulders... once Weil drags JPM into the wonderful world of damages that is.
I'm down in Monmouth... Frequent the Willowbrook Mall though. Man you guys have a lot of traffic up there.
Hah, yeah seriously... I'm fine. I just don't sleep all that well. I'll find a gig. If not, I can just make made to order movie trailers.
I'm in the states, specifically New Jersey. Got laid off so I'm depressed. I don't sleep much. I like to wait to see wamu run as the market opens, then I sleep... dream that I'm rich and then wake up realizing I'm still a pauper.
Thanks...
WaMuQ'd Trailer up on YouTube... Enjoy.
His flies eerily remind me of Beelzebub...
Golden Child Confirmed!
Look into Tesla, the man... not the car or the band.
Tesla had all of the answers and Mr JP Morgan cut all of his funding when Tesla told him his intention was to provide the world with free unlimited energy.
Yet another reason to hate JP Morgan.
Also of note... JP Morgan was supposed to be on the Titanic, but his astrologer told him to skip the voyage. He didn't do anything without first consulting with his astrologer.
You could be right, but is it standard to state they don't guarantee the title for the property?
JPM stated in their FDIC lawsuit that they were having problems getting the titles to properties and I assumed, perhaps incorrectly that this was because WMB didn't own the properties.
Personally, I don't care what JPM does with with the goods so long as the FDIC is forced to compensate WMI for the loss.
I just can't imagine selling a car and not being able to guarantee the buyer that a title comes along with it.
OK Gang, so what's the rub here?
The sale will be made without representation or warranty, express or implied regarding title, possession, encumbrances or condition of the Property on April 10, 2009.
http://www.chinookobserver.info/main.asp?SectionID=38&SubSectionID=196&ArticleID=27860&TM=76189.04
Is JPM looking for an injunction? Are they going to sell property they don't own so Weil can say... wait a sec, if this one property was worth _____ what were 2239 properties worth?
This smells of a rat, especially since they're saying they aren't guaranteeing a title for the property. Is this a move to further throw the FDIC under the bus?
I just don't feel like they think they can sell off the properties they couldn't get titles for without something specific coming of it.
So what exactly are they up to?
They did it here too...
At night the sign still lights up and you can easily read it.
I wish I had taken some pics of the sign before they covered it. I could have used them in the video I'm making.
Its in their best interests to deny anyone from taking a peak in there. Sure the world's governments already know where it is and where it isn't...
But I would think people in this country, might have throw a couple of Tea Parties if they really had any idea of what's going on.
Then again, most people probably don't even know what that gold is supposed to represent... So who care right?
I've given up on getting worked up over it. Like you said, it's a more or less a carefully constructed mirrage.
"There is no need to account for it."
That cracked me up.
"the gold was sent to cash for gold thought you got the memo"
Bloody old England dictates to us what bills are paid and how.
Anyone seen that gold that's supposedly in Fort Knox lately?
I wonder why they refuse to account for it.
Don't blink... I'm sure we just lent it to someone that hasn't given it back yet.
"I'll point to a whole bunch of bills we should have sent Bloody'ol England."
Sure... but there was always unwritten rules that were never crossed in broad daylight.
Over the past 20 years they've brought it all out of the dark and put a spotlight on it.
How many tax dollars did Bush give to fight aids in Africa?
Now most of America just wants a cut.
But I couldn't agree more... Most people have no concept of history beyond that which is taught in school.
Anyone want to explain to me how King George managed to retain control of America's mineral rights after the we broke "free" of British rule?
"Capitalism is a joke, and socialism is reality."
Buy plenty of canned goods and a cave near running water. Don't forget to stock up on tp, you can always barter with it later.
"PS Any suggestions for where to place our Wealth for the impending doom of Inflation? What's your plan?"
When the hyper inflation kicks in, those dollar menus are gonna look more like million dollar menus. :)
And for all of those that think this budget fiasco is a R vs D thing, wake up.
Bush was a socialist just as Obama is a socialist. They both take and follow orders like good little boys.
Don't let the socialists divide and conquer you by playing the R vs D game. They've both run this nation into the ground.
The few remaining "production" outlets we still have will be systematically disassembled and auctioned off to the highest bidder once Bair and the FDIC get their new powers.
We have been left with a corporate shell known as the United States. Anything of true value has been banned (drilling and mining) and then there's the farmland, most of the fruits of which are exported while the crap we eat comes from Mexico, Guatemala, or some other 3rd world country.
As for the wars... we ain't seen nothin' yet. It took a world war to get out of the depression, because wars are big business. Bush was going to get Osama dead or alive and Pelosi/Obama were going to bring all of the troops home.
Gimme a break guys. These people are top notch liars. We put Hope in them and believe they prescribe to the same "faith" we do.
They believe in one thing... $.
America is now in liquidation mode. Geithner slipped up with his global currency comments, but it's coming. I'm sure some think that's a good idea. For those that do... I genuinely for sorry for you just as I do for all of those that refuse to see the obvious.
This is the inbred ruling class having it's way with you, in plain sight while the majority of well meaning Americans refuse to react with any more than nervous support and blind "hope" that someone is going to fix a machine that is now broken beyond repair... and to those born more than half a century ago, beyond recognition.
But Smile... Chances are, you're on one of big brother's cameras.
"However we do have some sweet Value Menus in this country from which to chose a fattening lunch."
Just be careful with the date setting. People tend to jump out of windows when nothing happens on these supposed days of glory.
If it happens, sweet... if not, keep your eyes on the prize. I believe this will be rectified sooner than later, not that my opinion means all that much.
"Budget's Gone wild"
Drunk, Unbridled, and Topless...
Anyone wondering if Barney Frank is bouncing around like a weeble tossing Mardi Gras beads around everyone's knecks that signed onto this thing?
The United States of America is officially a toxic asset. Stick a fork in us. We're done.
"The third is Rothschild; they buy all of remaining from WMI amd pays WMI."
Weil was/is being advised in a big was from a Rothschild.
I don't know how far to take that, but an interesting theory anyway.
Damn, screwed the code up. You get the point.
JPM'S CLAIM FOR PROVIDIAN From Yahoo...
http://www.kccllc.net/documents/0812229/0812229090330000000000290.pdf
"Although the strategic partnership agreement, as amended, is between Visa and WMI, JPMCB believes[i/] that the obligation (i.e. issue Visa branded card) and rights thereunder belong to WMB's banking operations which were transferred to JPMCB".
There's nothing I can do to compete with the globalization of Hollywood. When a crappy movie based on Who Wants to Be a Millionaire becomes the worlds top flick, you can assume one of two things...
Someone sold their soul, or someone has a vested interest in introducing the world to Bollywood.
Anyway... yeah I may wind up doing this in pieces. Youtube only lets you do 10 minute blocks anyway.
"just bring us up to speed end of 1st Quarter. It can be a 4 part mini series to bump out next years slumdog millionaires rivals"
Working on it now...
Trying to decide where I stop. Do i just leave it as is now or wait for the next shoe to drop?
By the time this is all over it could call for a Director's Cut of a Directors Cut Part IV to cover everything.
I wish I I had a higher quality scan. It cracks me up. Nothing like a swim in the old money bin.
What kind of lawyer goes around suing people for the sake of "uknown players to be named later"?
It's a joke... and a bad one.
But we'll watch as the Wall Street Journal and others report the total claims against wmi at something well over 39 billion. :O)
It's called a psy-op.
UFB is right...
I'll go out on a limb with a little good old fashioned conspiracy theory. Who thinks WMIs total claims will be over/under 40 billion, and by how much.
I'll guess 41 billion, just to play. Perhaps this time, instead of using the IRS to preemtively strike, this time these jokers were brought into the mix to grab headlines and tell the world that even if WMI gets what they want... theyre still screwed.
There's soo much to say, but it's just not worth typing out. The lawyers are looking for an ultramega payday jackpot and that's all there is to it. They're obviously representing "ghosts" they hope will crawl out from under rocks in time to plead their case.
It's all part of the pump. It'll drop back to 2 cents as soon as they dump it. :O)
Personally, I'll buy back in when it hits -5 cents. Nothing like a stock that sucks so much they pay you to take it. And I suspect WaMuq will be heading there right after the FDIC hands them a few billion... because of the pumpers taking profit.
Here's a link to the H Form.
http://sites.google.com/a/wamutruth.com/www/file
I didn't get the letter. I'm post seizure and have had my H's since October.
Sweet! Cause I knew you were much smarter than that. :O)
I was worried there for a second.
And seriously, I have this discussion several times a day and you'd be shocked how many people actually think things are fine and we're indestructible.
If you guys spent 1/100th of the time looking behind he veil of our supposed free market system and what their stated agendas are... Well, I won't go there.
China dumps us... or the Middle East dumps us and we are up doo doo creek.
Watch the military aggression going on in other parts of the world and remember that money is also a weapon... and regardless of how strong we believe our economy is, we are now a nation lacking industry.
We are forced to import too much to function independently.
When our leaders are over in china sucking the rings of leaders that happily arrest people for voicing an opinion only to dice them up for spare parts... it's time for a wake up call.