I wish it would surge as quick as it fell. Even my unborn baby was feeling my heart thump on that drop. I was having flashbacks of the drop on September 25, 08.

That is interesting especially since I have heard several radio advertisements that are still usinig the WAMU trademark name to sell products. I thought that was HIGHLY unusual considering that JPM is being sued for trademark infringement.

Numbers for Wamu execs, some work, some do not, and some tell you how to get a hold of others.

In case people have questions. We never heard anything from execs post downfall.

(206) 461-2000 x 489 Laura

Rosalva Alvarez
rosalva.alvarez@wamu.net
1-800-225-5497, option 1, option1, extension 467
Fax: (206) 965-3082

Executive Response Team
Customer Relations Manager
Washington Mutual Bank
(800) 225-5497 Opt. 1 Ext. 467
Fax (206) 965-3082

(206) 377-8196, (206) 461-2000, (206) 461-6414, or (206) 461-8779. You can try asking for Ms Cindy Modica, VP of Quality Service.

CEO Kerry Killinger
kerry.killinger@wamu.net
His assistant, Wendy: wendy.cadman@wamu.net
206-500-8779

CFO Tom Casey
tom.casey@wamu.net
206-500-4201

Chief Legal Officer Stewart Landefeld
stewart.landefeld@wamu.net

President and COO Steve Rotella:
steve.rotella@wamu.net
206-500-8302

Another option is to try launching an "Executive Email Carpet Bomb." These posts tells you how.

Has no one talked about this? OWE 12.5 billion?

http://www.bloomberg.com/apps/news?pid=20601087&sid=agY9wr0CyVLM&refer=home

Anyone know what the heck is going on?

Well isn't this interesting....

BOCC was seized this friday.... but what really caught my eye was this quote...

*At the end of September, Bank of Clark County’s capital ratio was just below the level of a well-capitalized bank.*

They operated for four months while being undercapitalized. WAMU didn't even reach that point.

http://portland.bizjournals.com/portland/stories/2009/01/19/daily13.html?ana=e_du_pub

There are just so many things about this deal that have never made sense to me, and I really hope that it will all come out in court.

People/corporations/gov all make mistakes, and there is no reason to believe that one could not have been made here, in a big way.

There was an obvious panic leading up to WAMU's downfall with the stock plummeting (the supposed run) and the bailout hopes.

But why did they seize and not halt trading, allowing aftermarket trading after the news was released?

Why did they sell for so cheap when they hadn't done a valuation of the assets (they didn't even know that wamu had 4bill on deposit)?

I think the thing that is glaring is this was a rush job, and I just hope that the lawyers are uncovering mistake after mistake, and some repercussions will be made.

this Sunday? Isn't it Saturday?

And "pointless"?! For a lot of people this holiday is not pointless. I going to assume you are not living in the US (which is why your time is off, and why you would be so quick to diss a pretty important symbolic Holiday for a lot of US citizens.)

but at least, I see green.

Ah thanks... so you are seeing the servers that people are accessing from.

There is some interesting things in that doc, and I just skimmed through it.

Page 17 - Research Fraudulant transfers

As well as all the NOL research and calls with debtors.

Anyone know what an Avoidance Action is?

How do you know the US gov was monitoring? Out of curiosity?

thirteen and a half cents.

That just covers the Copyright information. JPM will probably have to apply for copyrighting for 2009.

The boiler does have JPM listed. They just do not own the copyright, yet.

Such an idiot move for them to name their website "wamurape"

They killed any chance of good pr by keeping that name.

I'm not posting as much as I used to, because there isn't a lot of new news, however when this thing hit the fan, there was tons to scour through. Now it is just a waiting game. I mostly just lurk on google-yahoo-here, waiting for reports.

Court day this place will be booming.

could you post the link?

Great find,

and it is encouraging that the firm said that they are looking for buyers for Lehman's businesses.

Again this is another article that is good PR for bankruptcy.

Not that insignificant... that award is not part of their assets, and they are less than a billion away from meeting their liabilites, much of which isn't due for a decade or so.

At this point, every little bit counts, and 55 million, plus tax returns, any revenue from subsidiaries, and any other assets that weren't featured in the operations report, could put is in ++++ territory.

Good PR for bankruptcy....

I thought this article was interesting about bankruptcy not being such a bad thing... however it doesn't mention outcomes for shareholders.

http://www.foxnews.com/politics/2008/12/12/bankruptcy-bad-automakers-weigh-options-bailout-collapse/

I'd be worried he is stepping down so he isn't an insider. Which kind of scares me.

Why would he step down?

The receivership is the FDIC, as far as I know they are keeping those funds to pay for any costs involved in the seizure and transfer of the bank to jpm.

Thanks for that. It is encouraging, I just hope it parallels this situation, in so much that shares are kept whole.

That is a good find, but what were their assets compared to debt at time of bankruptcy?

I have not been able to find those numbers to make a comparison.

It would be interesting to see what the assets vs. liabilities were of HLS after bankruptcy.

Yeah it certainly is, I have gone through a couple of bank mergers that involved lay offs and never experienced the new CEO coming to town to deliver the news.

Super strange. My only thought is that it is a PR move, with good news about severances or pension plans that were weighted heavily in WM stock and stock options.

It makes you feel like you are banging your head against a wall.

Yeah commercials saying that WAMU is now chase is going to make the holding company's stock sky rocket.

Those are JP Morgan Chase commercials using the WAMU brand. It was probably ad space that was purchased and scheduled pre-downfall.

Well...

they will have to pay taxes on profits it would be nice for them to have the NOL to offset it.

Where did you see that they were an interested party on the court filings?

Everybody loves a speculator, but I found this kind of interesting...

"In Citi's case, profits will be even harder to come by under the terms of its bailout. In exchange for the TARP money, Citi will have to pay the government $3.4 billion after tax, which equates to about 63¢ a share, or 7% of book value. "That's a meaningful drag on profitability," says Sean Ryan, a financial analyst with Sterne Agee. "

If they acquire a certain holding company that has a certain sizable NOLS wouldn't this offset those costs?


http://www.businessweek.com/bwdaily/dnflash/content/nov2008/db20081124_305785_page_3.htm

I'm sure they are all over it. If it is repealed, then our only hope (obi -won) is that they will re-org and not cancel our precious shares.

The postponement might have something to do with the bailout of citi... give them time to get a shot at the NOL?

Wide reach, I know.

I feel her pain :)

wife solidarity :)

No the 4.4 billion was a deposit that the holding company has in the bank. JPM aquired all deposits.

Just like if I have a deposit in WAMU pre-seizure, then post seizure my personal bank account is with JPM. I can still take that money out if I want to and move it elsewhere.

There was a dispute about the 4.4 billion deposit, JPM has already said it belongs to WMI and on Tuesday we are hoping the judge makes it official.

There were advertisements the NEXT day after purchase showing that JPM owned WAMU. Which some have pointed to as further proof that JPM knew they were getting WAMU before the public or WAMU did.

JPM has purchased WAMU, they own it. The court ruling has nothing to do with JPM's ownership of WAMU, all it has to do with is who owns the 4.4billion.

How can you think that when there is the court document stating that they are a majority shareholder?

Do you think they sold and bought back in?

I've worked in banking, and worked on teams during mergers and aquisitions, and I can't ever see a reversal after JPM their competitor has had access to all the data and has been currently in the process of migrating all the data to their systems.

IF this resolved itself in any way that my family actually comes out on top, you better believe that I will be paying it forward. There is no question. Especially in these dire times.

It is interesting to think that the FDIC was trying to pull a wamu with wachovia. It didn't work for them and now look where Citi is. This just adds more suspicion surrounding why wamu had to take the fall.

It really WAS so that JPM would not end up how Citi is playing out right now.

How eerily it reads like wamu? "we're well capitalized", "drop in stock price due to rumor mongerig"

It is almost as if they just used an old wamu article and did a find and replace for citigroup.

http://www.marketwatch.com/news/story/citi-under-4-pandit-said/story.aspx?guid=%7B8840827E-2039-477D-A23E-37C637B34609%7D