Rumor: WAMU to close Friday

[FrostyMcunicron]

every bank that falls pressures others to follow course, good luck everyone.

[Rocky_Shorz]

Originally Posted by sky

This Bipartisan meeting really happened today alreadY? I didnt' read about it anywhere else yet.
This is huge

Sobering moment

Somber. Sobering. Warnings of an economic "meltdown."

That's how participants described an emergency meeting held Thursday night between leaders of Congress and Treasury Secretary Henry Paulson and Federal Reserve Chairman Ben Bernanke.

The meeting was followed by an announcement from Paulson that he was preparing a far-reaching program - on a scale seen rarely in American history - to intervene in the shaky financial markets.

Paulson gave few details, although the plan's broad outline is for the federal government to buy hundreds of billions of dollars' worth of mortgage assets held by banks, Wall Street firms and other financial institutions. Details of the rescue plan were sent to members of Congress late Friday, according to reports.

[JSErwine]

Originally Posted by izz

well halifax one of th elargest banks in britain released a statement saying not to worry it was healthy ..

the next day we here it is in deep doo doos and it has to be bailed out by merging with Lloyds TSB ... which is bad news for the people..

never heard of banks going down before it is very weird .. and more are sure to hit the dust ..

what does it mean for us the people ?

Most likely the little people will be facing higher unemployment rates, the dollar will (should) drop in value, loans will become much harder to qualify for, alot of assets (stuff) will be sold/auctioned to foriegn investers.

It sounds like some of these bad deals are so conviluted, they realy are not sure what the actual value is. It's almost like a total crap shoot for the american taxpayers.

My .02

[sky]

Originally Posted by Rocky_Shorz

Sobering moment

Thanks a lot Rocky for pointing that all out
I am considering to buy some more coins before things are gettng even worse.
I am just hoping they do not find criminal ways to surpress the spot price even more. Do you have any intuition on that?
I am subsribed to Mahendra's newsletter (financial astrology), he warned a few days ago that gold prices might drop as much as 50%. Hard to believe though but scary

[Souther]

Outstanding news!

I just paid off my WAMU credit card. So sorry it didn't help them



Perhaps I could loan them a couple of bucks at a ridiculous interest rate?



Souther

[Rocky_Shorz]

Originally Posted by Souther

Outstanding news!

I just paid off my WAMU credit card. So sorry it didn't help them

Perhaps I could loan them a couple of bucks at a ridiculous interest rate?

Souther

Questiny has a report that they are being picked up, their doors aren't going to close.