User 117558

Closing Update for Tuesday, August 25: Dow Makes It Six Straight Gains

There is a definite wingnut pattern that has developed which will cause the market to move in the most likely direction over the next few periods. Therefore in order to make substantial profits it is clearly important for all traders/investors to take their long and short positions in a most timely manner.

Foreclosure Relief: $1 Million Apiece

You are quite right. This bank has been run into the ground by Smith and his hand picked cronies. There should be a public outrage and he should do the right thing and resign from all of his officer and directorate positions. He has run this bank into the ground. Compare what he has done with the properly conservative approach of Peyton Patterson at New Alliance. I own both stocks and regret that I did not sell all of my WBS and limit my holdings to NAL. What a disgraceful management team.


On Dec 18 12:59 PM suey5619 wrote:

> From a former employee of this New England institution - and a former
> Loan Officer - Webster is great at covering the mess - but I agree
> with the auhor that to take $400Mil of the TARP funds but to also
> say they have not "participated in Sub Prime lending" is somewhat
> of an oxymoronic statement - they aggressively pursued Equity lending
> through the branches - with low teaser rates - did 3rd position lending-
> which is very risky - I, personnaly, had 3 different managers in
> my short 2 year employment with this bank - which leads me to beleive
> that the Mortage Banking Group is in much bigger trouble then they
> wanted to let on -Jim Smith can really learn something from Jamie
> Dimon at JP Morgan on how to lead a 1st rate financial institution
> - as my mother always said - if "walks like a duck" -
> I may sound like a bitter former employee - well I guess I am. on
> some levels.....