22thoroughbred

Chewing on the FDIC List of 'Problem' Banks

The feds absolutely do NOT want to take over WaMu, the insurance needed would bankrupt the FDIC assets, which BTW are not assets at all but IOU's with the federal reserve, just like Social Security. For those who believe WaMu will survive, as I do, just buy the stock, as I have and make a ton of money when the stock rises, no need for a pissing match. I bought today at $2.06 and $2.11, and will continue to buy in the $2-$2.25 range. My thesis is that they wouldn't have hired a new CEO to immediately be taken over by FDIC, they more likely would have fired Killinger and said the board has "begun a search for a new CEO" than would not have been on the hook to pay someone whom they must immediately terminate.