nytimes.com— The government on Thursday made the largest bank seizure in American history, taking over Washington Mutual and selling pieces of it to J.P. Morgan Chase.
Sep 26, 2008View in Crawl 4
This was not a board decision, this was a rape of the company. The FDIC seized control with no reason to do so (they were on the brink but was looking for people to buy them, and there were no runs on the company) and sold the cherry picked pieces of the company, while they left most of the debt in the holding company. The FDIC did this without the board's knowledge!
I totally understand what you said, but I'm not part of the problem. It's the greedy people including the regular people who treated real estate like ATM cash machines. And the government didn't do a s**t about it. And the money I have at WaMu is my hard earned money, not their nor the government's. Regular people like me should not be blamed for the f**k-ups that the greedy caused.
@cmapes2I was referring to the neo-con Republicans that get most of the airtime these days. I don't expect people to remember any amount of history, especially stuff that long ago.
deaxesSep 26, 2008
This was not a board decision, this was a rape of the company. The FDIC seized control with no reason to do so (they were on the brink but was looking for people to buy them, and there were no runs on the company) and sold the cherry picked pieces of the company, while they left most of the debt in the holding company. The FDIC did this without the board's knowledge!
halozeroSep 26, 2008
Oh, you'll get your money back. It just won't be worht as much.
hiriumiSep 26, 2008
I totally understand what you said, but I'm not part of the problem. It's the greedy people including the regular people who treated real estate like ATM cash machines. And the government didn't do a s**t about it. And the money I have at WaMu is my hard earned money, not their nor the government's. Regular people like me should not be blamed for the f**k-ups that the greedy caused.
david8370Sep 26, 2008
bernanke
axstoroSep 27, 2008
No more free checks for life? =[
bipolarruledoutSep 27, 2008
The only surprise is that it didn't happen sooner. Everyone has been waiting for Wamu to crumble for weeks... months even.
dagamer34Sep 27, 2008
@cmapes2I was referring to the neo-con Republicans that get most of the airtime these days. I don't expect people to remember any amount of history, especially stuff that long ago.