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  • Wall Street Breakfast: Must-Know News [View article]
    BTW, Washington Mutual is still an actively traded stock on the pink sheets under the symbol WAMUQ. It's sitting just above 10 cents. I think these court cases they have going on can drive that stock up just in speculation, and once rulings get handed down, that is a ton of extra capital for the holding company. In normal bankruptcies, equity gets canceled, but in this case, it looks like it could be a much different case.
    Dec 16 08:11 AM | 6 Likes Like |Link to Comment
  • JPM's Ballet among the Carcasses [View instapost]
    Truth, you do an awesome job exposing JP Morgan for what it is. When bankers work so closely wiht our government, it's ridiculous to think there is fair competition in the financial industry. When our government leaders were former CEO's, of course they are going to be helping out their friends. I don't understand why we, as citizens, go on ignoring this basic understanding. Mainstream media, and even Financial news outlets, just refuse to touch this. Rolling Stone tends to be the only real outlet trying to inform the public on what's happening. It's pathetic!
    Oct 30 11:15 AM | 4 Likes Like |Link to Comment
  • WaMu Defrauded by JPMorgan? [View article]
    I'm with Tom on this. JPM got a good deal, but within the next couple months, it wouldn't be a stock to hold because there can be some serious consequences. JPM would be smart to get this out of the way and move on. The 4B they hold of WaMu's should hurt them, but the lawsuit accusing them of hiring plants into WaMu, leaking confidential info, and attempting to destroy the stock is much more serious.

    To me, it just seems fishy that WaMu wasn't on the short-sell ban list, but all the other major banks were. It also seems weird that the bank was only sold for 1.9B. Hopefully this all gets resolved ASAP.

    Maybe the FDIC needs some more money to finish up this deal?
    May 5 08:56 AM | 7 Likes Like |Link to Comment