Washington Mutual After FDIC Seizure

A http://tabletswithink.

---

Production
The Federal Deposit Insurance Corp. plans to take control of Seattle-based WaMu, the biggest U.S. savings and loan, according to the CNBC television network, and New York-based JPMorgan will buy deposits and branches, the Wall Street Journal said, without citing any sources. The FDIC insurance fund is not expected to contribute any money, the Journal said. WaMu's fate played out as Congress tried to reach an accord that will ease the global credit crunch, which has already driven Lehman Brothers Holdings Inc. and IndyMac Bancorp out of business, and Bear Stearns Cos. and Merrill Lynch & Co. into hastily arranged rescues. As many as five banks had considered bids for WaMu without making an offer, balking in part because the lender faced as much as $19 billion in mortgage loan losses. Resolving WaMu's situation ``is a positive,'' said Patrick Becker Jr., who oversees $2 billion as chief investment officer at Becker Capital Management in Portland, Oregon. ``That's been a big cloud over the market and financial shares.'' His firm does not own JPMorgan or WaMu shares. WaMu and JPMorgan officials didn't return calls seeking comment. Five banks that were considering bids, including JPMorgan Chase & Co., have failed to make an offer in the week since WaMu put itself up for sale. WaMu also approached Carlyle Group and Blackstone Group LP, two people briefed on the matter said.

---

Bank Failure Claims IndyMac - Is Washington Mutual Next on FDIC ...
Bank Failure Claims IndyMac - Is Washington Mutual Next on FDIC Problem Banks ... The July 11th FDIC seizure of IndyMac came a short ten days after IndyMac denied it was close to ...
more ...
go to website
Cached

Washington Mutual take 72% hit to 3rd quarter earnings as a result of ...
Washington Mutual Inc. third-quarter net income plummeted 72%, as ... portfolio due to the summer’s credit-market seizure ... Oh, I am sorry, they are a FDIC insured mortgage bank.
more ...
go to website
Cached

Bank Failure Claims IndyMac... Is Washington Mutual Next on the FDIC ...
The July 11th FDIC seizure of IndyMac last week came a short ten days after IndyMac denied it was close to collapse. I imagine that there were a lot of hushed tones and worried ...
more ...
go to website

FDIC answers banking queries
... seizure of savings and loan giant IndyMac Bank and heightened anxiety this week over the financial stability of No. 1 thrift Washington Mutual ... FDIC answers banking queries Customers have options after ...
more ...
go to website
Cached

FDIC learns it ignores bloggers at its peril - Los Angeles Business ...
FDIC learns it ignores bloggers at its peril ... it can't afford to ignore the blogs following its seizure ... cope with their mortgage-lending woes, including Washington Mutual ...
more ...
go to website
Cached

---

What is to be Done? An Interview with Bert Ely
... achieved equal footing with the large universal banks - almost a decade after ... regulatory failures, specifically the losses arising from the delayed seizure of ... What about Washington Mutual ( WM )? You saw our analysis.
more ...
go to website
Source: Seekingalpha.com
NewsDateTime: 9/24/2008

Top stories in this morning's USA TODAY
WASHINGTON — A new government program aims to make it more difficult for terrorists to steal dangerous radioactive material from the nation's hospitals and medical research labs to make "dirty bombs." WASHINGTON — From the start of Tuesday's ...
more ...
go to website
Source: USA Today Blogs
NewsDateTime: 9/24/2008

Site Presented By
Oh, and in other news, my bank, Washington Mutual, seems to be ... Ever since the government seizure of Fannie and Freddie ... Moments after posting, an alert from the Wall Street Journal: Washington Mutual Inc. received a critical financial ...
more ...
go to website
Source: Salon
NewsDateTime: 9/19/2008

WaMu stock surges as bidders circle
Washington Mutual Inc., the savings and loan seeking a buyer after its stock price tumbled, rallied in New York on reports ... the government announced plans to halt the credit-market seizure ... will help customers "work with you to maximize your FDIC ...
more ...
go to website
Source: Seattle Post Intelligencer
NewsDateTime: 9/19/2008

FDIC answers banking queries
FDIC answers banking queries Customers have options after foreclosures, failures. By ... collapse and government seizure of savings and loan giant IndyMac Bank and heightened anxiety this week over the financial stability of No. 1 thrift Washington Mutual ...
more ...
go to website
Source: Allentown Morning Call
NewsDateTime: 9/17/2008


Deal Pressure WaMu came under increasing pressure to strike a deal as its stock sagged and ratings companies pummeled its debt. Standard & Poor's yesterday cut WaMu's rating for the second time in nine days, dropping it to CCC from BB-. WaMu's regulator, the Office of Thrift Supervision, and the Federal Deposit Insurance Corp., which guarantees customer deposits, have declined to comment. WaMu fell 57 cents, or 25 percent, to $1.69 at 4 p.m. in New York Stock Exchange composite trading. The stock skidded about 88 percent this year, the biggest decline in the 24- company KBW Bank Index. WaMu is the only junk-rated company in the index. A record 392 million WaMu shares changed hands today, more than twice the daily average this month and seven times the average over the past year, Bloomberg data show.

---

Videos from YouTube
Title: Pipes and Drums of FDIC 2008
Categories: kilts,FDIC,drums,FOOLS,pipes,IAFF,and,Beer,firefighters,Indy,Music,

Published on: 4/16/2008 8:52:26 PM
Title: FDIC Says Deposits in Failed Bank Are 'safe'
Categories: fdic,News,says,deposits,indymac,'safe',failed,bank,

Published on: 7/13/2008 4:55:56 PM
Title: FDIC May Borrow Money from Treasury..
Categories: FDIC,Education,

Published on: 8/27/2008 6:08:22 AM
Title: Crude Oil Rises; FDIC To Tap Treasury
Categories: gas,News,Business,bloomberg,News,Banking,prices,

Published on: 8/27/2008 7:45:20 AM
Title: FDIC Limits
Categories: Education,contributing,accounts,editor,your,kim,finance,lankford,money,banks,personal,kiplinger,saving,

Published on: 6/25/2008 10:19:22 AM