dixie

FASB Unlikely to Suspend Mark to Market

Fair value accounting as promolgated by FASB and the FDIC is a misnomer.
There is nothing either intrinsically "fair" or representative of "value" about it. Both of these two groups are out of touch with reality and too often appear to have their respective heads where the sun doesn't shine.

A DCF model is both fair and realistic irrespective of the ups and downs of the economy.

We Cannot Afford to Wait to Recapitalize U.S. Banks

Time is of the essence. Where are the deputies at Treasury? When will they be named? The Secretary seems to be playing his fiddle while the economy burns.

The Three Riskiest Banks - American Banker

Paul, you are much too "sensational". Please prove your statement, "most US banks are at or close to insolvency."

Perhaps that is true for the largest ten banks, but aren't you aware that there are many thousands of smaller banks in this country that do not fit this categorization?

Rubin Deserts a Sinking Citi

For what Rubin did in both government and at Citi, he should take a long walk off a short plank.

JPMorgan Meets WaMu Homeowners, Face to Face

Now, if only JPM and Dimon and the FDIC and Bair would do right to WM shareholders, then we could say, "case closed."

The truth is, WM shareholders were not consulted nor approved of their, "gift" to JPM as you correctly state it.

Shall we hold our breath?

Is JPMorgan Hiding Losses?

The Treasury knew the true situation at JPM. The FEDS wanted to preserve it. That's why they conspired with the FDIC to seize WM and "gift it" to JPM.

In an effort to save the banking herd, the FDIC tossed a wweaker member to the starving beast.

Earnings Preview: J.P. Morgan

Correction. JPM didn't really purchase Washington Mutual. Its assets were seized by the FDIC and the bank was essentially gifted to JPM for a pittance.

It is nice to know that Bernstein believes this "acquisition" (theft?) will significantly enhance JPM's earnings. Apparently, WM was a pot of gold.

FDIC and Treasury are you listening? WM's shareholders are waiting for compensation.

Preview of the Bank Buy-In

Now would be a good time to give Washington Mutual shareholders there just due.

The FDIC literally gave WM to JPM for peanuts and now taxpayers will loan even more to JPM. What a deal!

WaMu Still Broke

The FDIC wanted to freighten Congress two weeks ago to quickly approve the $700 billion bail out for big banks, like JPM.

JPM needed a capital infusion. So voila, seize WM on Thursday night at gunpoint, and give the loot to JPM, thus creating a win-win for the FDIC and JPM. Tough luck to the shareholders. After all this is the New World Order.

Where were the "competitive bids" that the Office of Thrift Supervision refers to? Who were these other bidders?

Did JPMorgan Almost Fail?

JPM Chase was the high bidder for WM according to the initial news release from the Office of Thrift Supervision. They said the FDIC handled the bidding process.

Just who were the "other bidders" (if any)?
How was the bidding process conducted?
How much time elapsed? 5 minutes? 5 hours? a day?

This FDIC arranged wedding sounds fishy. Once JPM had WM's trousseau, the bride was tossed overboard. Take the gold and run!

Who Is Now Number One in the Banking Industry?

JPM will earn goodwill when they decide to make Washington Mutual's shareholders part of the, "family."

There is a belief in the market Chase "stole", WM's assets with the assistance of the FDIC in order to painlessly bolster their own capital position.

JPMorgan and the Concentration of Risk

It appears there are approximately 6 guerilla banks operating in the country. These monster banks have big appetites. It appears that the Federal Government plans to satisfy their hunger by throwing them most of the mid-size and smaller banks as food.

A few years downstream our country will truly be a "planet of apes."

Worrying About Large-Deposit Bank Runs

Right on, Felix. Cesar's response is grossly misleading.

JPM picked up $176 billion of home mortages and many billions of deposits for under $2 billion. So they write-off $31 billion. They will still have $145 billion of mortages. Any banker would lick their chops at this deal. And they get a big tax accounting loss as an added bonus.

JPM is still poping the champagne corks. They looked at (cased the joint like a thief) WM books a few weeks ago. Then, the FDIC conspired ( ala Hugo Chavez style) with JPM to seize the stockholder and bond holder's GOLD in order to "inject liquidity" into a mega bank in order to shore up financial markets. Win-win for JPM and FDIC. Lose-lose for stockholders and bond holders. Conveniently, WM'S senior management and directors were caught offguard by"surprise." Sure they were.

Our government steals just like Hugo Chavez does and with the same result - unjust enrichment without compensation.

Barron's Goes Bullish on Banks, Again

There are many small regional and community banks that are trading at a fraction of book. Some have taken small losses and others have had their earnings trimmed.
However, as the economy begins to stabilize in 2009 and the growth in NPA's fades, earnings will again accrue. These "main street banks" understand the local commercial customer better than their "wall street" counterparts.
Stock valuations in this sector may well increase 50% to 100% within the next 2 years. Discover the babies that have been tossed out with the proverbial bath water.