WAMU Dead, or Stolen, Bailout Busted, ETC

[Steve_A]

Hi Lance,

Last night JP Morgan made an offer for WAMU knowing it will profit from the bad debts, as the goverment bail out plan that was proposed allows the government to buy these bad debts at over the top prices.

Do you see how the big boys are already trying to scam the American people? Because it will be YOU footing the bill to put money into JPs' pocket.

Best regards,

Steve

Originally Posted by Lance

I'm not going to link to any of the news because by this time tomorrow the whole world will be sick of this news. I've spent my last 3 years trying, uselessly it seems, to figure out the global financial markets and today the bubble burst.

With the FBI investigating Fannie, Freddie, AIG and the take over of WAMU tonight the world as we know it has splintered into some new 'thing'. I've been awaiting this for years as does it seem, most people here have. I'll not give into fear but I would at this date like to express my love and gratitude to all of you and your families and friends. Rough times are upon us and God only knows what is next. The bailout of the FR is seemingly kaput so the time of transition is upon us.

May the light shine upon you and if anyone needs a place to pitch'a tent we've 60 acres of commons behind us. Bring a shelter or the means to build one, some food hopefully, and beer always helps (cheap tobacco is awesome as well). This is going to go hot soon....And to think we had until Oct!

Keep well, get seeds and I'll keep gardening until I bump into you and then we can co-design at our place of merger.................

[Lance]

Originally Posted by Steve_A

Hi Lance,

Last night JP Morgan made an offer for WAMU knowing it will profit from the bad debts, as the goverment bail out plan that was proposed allows the government to buy these bad debts at over the top prices.

Do you see how the big boys are already trying to scam the American people? Because it will be YOU footing the bill to put money into JPs' pocket.

Best regards,

Steve

Not me mate, I'm a Canuck...we are not a state yet.....

[Steve_A]

Hi Lance,

YOU was not meant for you, it was meant for 'the American people' from the previous sentence (I suppose I could have said 'they').

Best regards,

Steve

Originally Posted by Lance

Not me mate, I'm a Canuck...we are not a state yet.....

[pineal-pilot-in merkabah]

october 7th will be the transition time for the north a,merican union.. web bot says until feb 09.

[kassych]

I feel sad concerning all this, and of all people...JP to move in like that. I expected something a little more sophisticated than just the old plain buy-out.

[Steve_A]

Hi kassych,

When it comes to getting in first, sophistication doesn't play much of a role. When the January sales start in the chain stores, isn't there pandemonium the moment the doors are opened? Only the first will get the real bargain. And that's just to get a reduction on a plasma TV!

In most cases, these sort of dealings are quite healthy, however, what makes this deal leave a bad taste in my mouth is that it was done using tax payers money as JP bought the institution from the American government at a rock bottom price and will be expecting that the US government will buy back all the bad debts to leave them with a clean bill of health financially speaking. ALL PAYED FOR BY THE AMERICAN TAX PAYER.

Best regards,

Steve

Originally Posted by kassych

I feel sad concerning all this, and of all people...JP to move in like that. I expected something a little more sophisticated than just the old plain buy-out.