Comments on: Oh, Snap: WaMu CEO “Ousted” http://seattlebubble.com/blog/2008/09/07/oh-snap-wamu-ceo-ousted/ News & discussion about real estate & the housing bubble in the Seattle area. Sat, 21 Nov 2009 10:02:55 -0800 http://wordpress.org/?v=2.8.6 hourly 1 By: David McManus http://seattlebubble.com/blog/2008/09/07/oh-snap-wamu-ceo-ousted/#comment-56108 David McManus Tue, 09 Sep 2008 18:07:12 +0000 http://seattlebubble.com/blog/?p=2610#comment-56108 WM down another 20% today! Puts effing rock!!!<div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('56108','David McManus',''); return false;">Reply</a> - <a href="#" class="quote" onclick="quote('56108','David McManus','WM down another 20% today! Puts effing rock!!!',''); return false;">Quote</a></div> WM down another 20% today! Puts effing rock!!!
Reply – Quote
]]> By: waitingforseattletocool http://seattlebubble.com/blog/2008/09/07/oh-snap-wamu-ceo-ousted/#comment-56025 waitingforseattletocool Mon, 08 Sep 2008 21:51:02 +0000 http://seattlebubble.com/blog/?p=2610#comment-56025 Nobody worry, Mr. Killinger will be resting comfortably at 75 Olympic Drive Northwest, Shoreline, WA despite his newfound unemployment.<div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('56025','waitingforseattletocool',''); return false;">Reply</a> - <a href="#" class="quote" onclick="quote('56025','waitingforseattletocool','Nobody worry, Mr. Killinger will be resting comfortably at 75 Olympic Drive Northwest, Shoreline, WA despite his newfound unemployment.',''); return false;">Quote</a></div> Nobody worry, Mr. Killinger will be resting comfortably at 75 Olympic Drive Northwest, Shoreline, WA despite his newfound unemployment.
Reply – Quote
]]> By: Notorious ART http://seattlebubble.com/blog/2008/09/07/oh-snap-wamu-ceo-ousted/#comment-56005 Notorious ART Mon, 08 Sep 2008 18:02:19 +0000 http://seattlebubble.com/blog/?p=2610#comment-56005 b, Agreeded. The FDIC will take over and another bank will assume the deposit base. USBank, perhaps?<div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('56005','Notorious ART',''); return false;">Reply</a> - <a href="#" class="quote" onclick="quote('56005','Notorious ART','b, \r\n\r\nAgreeded. The FDIC will take over and another bank will assume the deposit base. USBank, perhaps?',''); return false;">Quote</a></div> b,

Agreeded. The FDIC will take over and another bank will assume the deposit base. USBank, perhaps?

Reply – Quote
]]> By: b http://seattlebubble.com/blog/2008/09/07/oh-snap-wamu-ceo-ousted/#comment-56002 b Mon, 08 Sep 2008 17:50:21 +0000 http://seattlebubble.com/blog/?p=2610#comment-56002 I think WaMu is going to go like IndyMac, I doubt there will be a buyer willing to pony up these days. Maybe if they tanked 6 months ago, but I don't think JPM will touch that corpse even for $2.<div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('56002','b',''); return false;">Reply</a> - <a href="#" class="quote" onclick="quote('56002','b','I think WaMu is going to go like IndyMac, I doubt there will be a buyer willing to pony up these days. Maybe if they tanked 6 months ago, but I don\'t think JPM will touch that corpse even for $2.',''); return false;">Quote</a></div> I think WaMu is going to go like IndyMac, I doubt there will be a buyer willing to pony up these days. Maybe if they tanked 6 months ago, but I don’t think JPM will touch that corpse even for $2.
Reply – Quote
]]> By: Notorious ART http://seattlebubble.com/blog/2008/09/07/oh-snap-wamu-ceo-ousted/#comment-55999 Notorious ART Mon, 08 Sep 2008 17:28:31 +0000 http://seattlebubble.com/blog/?p=2610#comment-55999 I can't believe it took so long.<div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('55999','Notorious ART',''); return false;">Reply</a> - <a href="#" class="quote" onclick="quote('55999','Notorious ART','I can\'t believe it took so long.',''); return false;">Quote</a></div> I can’t believe it took so long.
Reply – Quote
]]> By: Aaron http://seattlebubble.com/blog/2008/09/07/oh-snap-wamu-ceo-ousted/#comment-55996 Aaron Mon, 08 Sep 2008 16:57:49 +0000 http://seattlebubble.com/blog/?p=2610#comment-55996 Prior to the Fannie Mae/Freddie Mac bailout, I had faith WM would pull through. Now, for various reasons, I have lost that faith... :(<div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('55996','Aaron',''); return false;">Reply</a> - <a href="#" class="quote" onclick="quote('55996','Aaron','Prior to the Fannie Mae\/Freddie Mac bailout, I had faith WM would pull through.\r\n\r\nNow, for various reasons, I have lost that faith... :(',''); return false;">Quote</a></div> Prior to the Fannie Mae/Freddie Mac bailout, I had faith WM would pull through.

Now, for various reasons, I have lost that faith… :(

Reply – Quote
]]> By: richie http://seattlebubble.com/blog/2008/09/07/oh-snap-wamu-ceo-ousted/#comment-55994 richie Mon, 08 Sep 2008 16:32:37 +0000 http://seattlebubble.com/blog/?p=2610#comment-55994 Meeting the regulators signifies that the final chapter is arriving. I think that the stock may drop below $3 today. WaMu is seeking a white knight. I believe it is JP Morgan Chase. JPM probably offers $2 with Fed's endorsement again as it did for Bear Stern. Unlike BSC, WM has no bargaining chips because 50% of its portfolio are all in Alt-A and subprime notes. Fed may have to go along with JPM's demand and endorse the deal. This is another case of too bid to fall. Banks nowadays peddle the government (or you and me) to give them blank checks.<div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('55994','richie',''); return false;">Reply</a> - <a href="#" class="quote" onclick="quote('55994','richie','Meeting the regulators signifies that the final chapter is arriving. I think that the stock may drop below $3 today. WaMu is seeking a white knight. I believe it is JP Morgan Chase. JPM probably offers $2 with Fed\'s endorsement again as it did for Bear Stern. Unlike BSC, WM has no bargaining chips because 50% of its portfolio are all in Alt-A and subprime notes. Fed may have to go along with JPM\'s demand and endorse the deal. This is another case of too bid to fall.\r\n\r\nBanks nowadays peddle the government (or you and me) to give them blank checks.',''); return false;">Quote</a></div> Meeting the regulators signifies that the final chapter is arriving. I think that the stock may drop below $3 today. WaMu is seeking a white knight. I believe it is JP Morgan Chase. JPM probably offers $2 with Fed’s endorsement again as it did for Bear Stern. Unlike BSC, WM has no bargaining chips because 50% of its portfolio are all in Alt-A and subprime notes. Fed may have to go along with JPM’s demand and endorse the deal. This is another case of too bid to fall.

Banks nowadays peddle the government (or you and me) to give them blank checks.

Reply – Quote
]]> By: David McManus http://seattlebubble.com/blog/2008/09/07/oh-snap-wamu-ceo-ousted/#comment-55988 David McManus Mon, 08 Sep 2008 15:37:07 +0000 http://seattlebubble.com/blog/?p=2610#comment-55988 From Reuters: Washington Mutual Inc (WM.N: Quote, Profile, Research, Stock Buzz), the largest U.S. savings and loan, ousted Kerry Killinger as chief executive and <strong>was put under special regulatory supervision following skyrocketing losses from mortgages that are expected to weigh on results for years</strong>.<div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('55988','David McManus',''); return false;">Reply</a> - <a href="#" class="quote" onclick="quote('55988','David McManus','From Reuters:\r\n\r\nWashington Mutual Inc (WM.N: Quote, Profile, Research, Stock Buzz), the largest U.S. savings and loan, ousted Kerry Killinger as chief executive and <strong>was put under special regulatory supervision following skyrocketing losses from mortgages that are expected to weigh on results for years<\/strong>.',''); return false;">Quote</a></div> From Reuters:

Washington Mutual Inc (WM.N: Quote, Profile, Research, Stock Buzz), the largest U.S. savings and loan, ousted Kerry Killinger as chief executive and was put under special regulatory supervision following skyrocketing losses from mortgages that are expected to weigh on results for years.

Reply – Quote
]]> By: David McManus http://seattlebubble.com/blog/2008/09/07/oh-snap-wamu-ceo-ousted/#comment-55987 David McManus Mon, 08 Sep 2008 15:35:41 +0000 http://seattlebubble.com/blog/?p=2610#comment-55987 Looks like this didn't help. The rest of the market is SURGING on the FNM/FRE bailout and WM is down 15%. http://finance.yahoo.com/q?s=wm Maybe the old money knows something we don't ;-)<div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('55987','David McManus',''); return false;">Reply</a> - <a href="#" class="quote" onclick="quote('55987','David McManus','Looks like this didn\'t help. The rest of the market is SURGING on the FNM\/FRE bailout and WM is down 15%.\r\n\r\nhttp:\/\/finance.yahoo.com\/q?s=wm\r\n\r\nMaybe the old money knows something we don\'t ;-)',''); return false;">Quote</a></div> Looks like this didn’t help. The rest of the market is SURGING on the FNM/FRE bailout and WM is down 15%.

http://finance.yahoo.com/q?s=wm

Maybe the old money knows something we don’t ;-)

Reply – Quote
]]> By: robroy http://seattlebubble.com/blog/2008/09/07/oh-snap-wamu-ceo-ousted/#comment-55986 robroy Mon, 08 Sep 2008 15:33:21 +0000 http://seattlebubble.com/blog/?p=2610#comment-55986 Too little, too late? Actually, yes. They are a dead bank walking, and have been for some time. Wait'll the Alt-a hits...<div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('55986','robroy',''); return false;">Reply</a> - <a href="#" class="quote" onclick="quote('55986','robroy','Too little, too late?\r\n\r\nActually, yes. They are a dead bank walking, and have been for some time. Wait\'ll the Alt-a hits...',''); return false;">Quote</a></div> Too little, too late?

Actually, yes. They are a dead bank walking, and have been for some time. Wait’ll the Alt-a hits…

Reply – Quote
]]> By: singliac http://seattlebubble.com/blog/2008/09/07/oh-snap-wamu-ceo-ousted/#comment-55984 singliac Mon, 08 Sep 2008 15:27:00 +0000 http://seattlebubble.com/blog/?p=2610#comment-55984 Alan Fishman? Woo-who?<div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('55984','singliac',''); return false;">Reply</a> - <a href="#" class="quote" onclick="quote('55984','singliac','Alan Fishman? Woo-who?',''); return false;">Quote</a></div> Alan Fishman? Woo-who?
Reply – Quote
]]> By: Joel http://seattlebubble.com/blog/2008/09/07/oh-snap-wamu-ceo-ousted/#comment-55969 Joel Mon, 08 Sep 2008 05:49:51 +0000 http://seattlebubble.com/blog/?p=2610#comment-55969 <blockquote>The board recently got new blood in key posts and concluded WaMu needed an outsider to signal a fresh start, according to people familiar with the matter.</blockquote> You know who would be a good outsider to run WaMu? Sheila Bair.<div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('55969','Joel',''); return false;">Reply</a> - <a href="#" class="quote" onclick="quote('55969','Joel','<blockquote>The board recently got new blood in key posts and concluded WaMu needed an outsider to signal a fresh start, according to people familiar with the matter.<\/blockquote>\r\n\r\nYou know who would be a good outsider to run WaMu? Sheila Bair.',''); return false;">Quote</a></div>

The board recently got new blood in key posts and concluded WaMu needed an outsider to signal a fresh start, according to people familiar with the matter.

You know who would be a good outsider to run WaMu? Sheila Bair.

Reply – Quote
]]>