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Old 09-25-2008, 08:21 PM   #1 (permalink)
 
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Default Paulson shoots a hostage

As negotiations for the $700 billion bailout turn to chaos, Washington Mutual gets toasted.

http://biz.yahoo.com/ap/080925/washingt ... uture.html

It's unusual for something like this to happen on a Thursday. Friday is the traditional day for moves like this. Paulson means business.
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Old 09-25-2008, 08:29 PM   #2 (permalink)
 
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Default Re: Paulson shoots a hostage

By the way, I do have an account at wamu and I'm not worried about losing my money there. The takeover by the fed and the purchase by JP morgan is supposed to go smoothly. And the deposits are fdic insured.

Shareholders, on the other hand, will likely get nothing.
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Old 09-25-2008, 08:35 PM   #3 (permalink)
 
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Default Re: Paulson shoots a hostage

Quote:
Originally Posted by coldmorning
Shareholders, on the other hand, will likely get nothing.
As the say "those are the risks you take".

Thank you Baby Boom Generation! We owe you another one!
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