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09-17-2008, 02:53 PM
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#1
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jun 2002
Location: No Country for Old Men
Posts: 47,501
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WaMu up for bid
__________________
Numbers is hard
Retired in 2005 at age 58, no pension
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09-17-2008, 02:55 PM
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#2
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Nov 2007
Posts: 5,596
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I bid $22.59.
__________________
I purr therefore I am.
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09-17-2008, 03:04 PM
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#3
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Thinks s/he gets paid by the post
Join Date: Mar 2006
Location: Houston
Posts: 4,337
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It was obvious that WaMu was going to go away. I am curious to see if it's a "sale" or if the FDIC forces the issue.
WaMu has been hammered relentlessly for many months. Their published financial data says they are safely solvent but contaminated with massive subprime writeoffs. What's true and what's short seller rumor? If acquirers go through their books, the truth will be known.
I would view an actual sale to be a significant positive. The b*st*rtds that sold my father his VA would be gone plus it would signal that they really do have assets.
In our current environment, there is no good news. Right now good news is really bad news and bad news is a disaster.
__________________
The object of life is not to be on the side of the majority, but to escape finding oneself in the ranks of the insane -- Marcus Aurelius
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09-17-2008, 05:59 PM
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#4
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Dec 2003
Location: Losing my whump
Posts: 22,697
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Yep, they're a bunch of idiots.
I bid a six pack of diet grapefruit soda (what was I thinking?) and an open bag of jelly beans, some of which may have been licked by my son and put back.
__________________
Be fearful when others are greedy, and greedy when others are fearful. Just another form of "buy low, sell high" for those who have trouble with things. This rule is not universal. Do not buy a 1973 Pinto because everyone else is afraid of it.
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09-17-2008, 06:08 PM
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#5
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Thinks s/he gets paid by the post
Join Date: Feb 2007
Location: Upstate
Posts: 1,640
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Quote:
Originally Posted by cute fuzzy bunny
Yep, they're a bunch of idiots.
I bid a six pack of diet grapefruit soda (what was I thinking?) and an open bag of jelly beans, some of which may have been licked by my son and put back.
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When I saw the blurb on the newswires, my instant message to a friend was "Ever see negative bidding before"?
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09-18-2008, 05:58 AM
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#6
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Thinks s/he gets paid by the post
Join Date: Mar 2006
Location: Houston
Posts: 4,337
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Quote:
Originally Posted by copyright1997reloaded
When I saw the blurb on the newswires, my instant message to a friend was "Ever see negative bidding before"?
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That's what you get if the FDIC is involved. A real sale would get a positive price without FDIC support. That just might convince people that there actually may be some value in financial stocks. This market will turn when what everyone knows is shown to be wrong.
__________________
The object of life is not to be on the side of the majority, but to escape finding oneself in the ranks of the insane -- Marcus Aurelius
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