jack matalka

Banking Sector: Band-Aids Just Won't Do It

FDIC sued by Washington Mutual Inc. The holding enterprise of WMB that operated WAMU bank.The wrongful conveyance suit was filed on 3/20/2009 seeking relief of approximately 17 Billion dollars for their share holders. The suit was filed within the mandated 60 days wherein the FDIC declined a claim filed by WMI Inc.

Banking Sector: Band-Aids Just Won't Do It

MW actually pocketed 9.64 dollars a share in profits this past quarter.
due to a one time writeof which is not really a write of Just changing the location of the cash from one account to another account for the incase arguement. The incase argument says that if we have to write of the bad loans we can do it without having to spend any money to write off the loans. Which again means we can juggle the accounts. Which means we'll be able to foreclose and turn the forclosed property to our sell dept which will sell it at a profit/loss and recover most of our money through the sale and later show big profits since the whole thing was written off earlier and now the new money is all profits. Okay what does all mean. It means that soon they will run out of bad loans to foreclose on and
the people who stayed with the stock all 85%(institutions) will end up laughing all the way to the bank(WM) to deposit their big huge profits. While the cry babies will cry all the way to sleep. The shorts whether naked or dressed will recover some of their capitol but not all since there isn't enough shares to buy back out there.