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Chase to purchase Wamu?

Regular Contributor

Re: Chase to purchase Wamu?



aftermath wrote:
There has been some talks/speculations that Chase might buyout Wamu (Wamu got themselves into a heap of financial trouble over all the sub-prime mortgage loans they handed out a few years ago). This would also be a strategic move on Chase's part to expand Chase into the West Coast since they're predominantly East Coast based bank.

So if Chase purchases Wamu, does that mean my cruddy little Wamu card will potentially become a Chase card?

I have a friend who's a mortgage broker and he says there was rumor at one time that BofA would purchase WAMU. (I hear they're doing the best of any lender as far as the mortgage biz these days).
 
I do know that things can change very quickly so it may be Chase now.
Message 11 of 25
Moderator Emeritus

Re: Chase to purchase Wamu?

 

WaMu: Liquidity Options Running Low

Posted on July 27th, 2008 in Daily Mortgage/Housing News - The Real Story, Mr Mortgage's Personal Opinions/Research

WaMu stock price keeps falling. From $40 per share less than a year ago to $20 four months ago to $3.03 a couple of weeks back before the SEC and Treasury ganged up to prop up the markets yet again.

The SEC, FDIC, OTS, bubblevision and various other media sources are in a big finger pointing contest, blaming everything from negative press to bloggers and short sellers for WaMu’s obvious struggles. I blame WaMu. There is solid evidence everywhere that WaMu is struggling. The stock price plunging aside, the massive amounts of the most toxic of loans ever created on their balance sheet is well-known and what is at the heart of their troubles.

Message 12 of 25
Moderator Emeritus

Re: Chase to purchase Wamu?

And for the fans of ml-implode.com there is http://bankimplode.com/
 
 
Message 13 of 25
Valued Contributor

Re: Chase to purchase Wamu?

I just opened a checking an saving account with Wamu should i worry?

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Message 14 of 25
Established Contributor

Re: Chase to purchase Wamu?


Timothy wrote:



WaMu: Liquidity Options Running Low

Posted on July 27th, 2008 in Daily Mortgage/Housing News - The Real Story, Mr Mortgage's Personal Opinions/Research



WaMu stock price keeps falling. From $40 per share less than a year ago to $20 four months ago to $3.03 a couple of weeks back before the SEC and Treasury ganged up to prop up the markets yet again.


The SEC, FDIC, OTS, bubblevision and various other media sources are in a big finger pointing contest, blaming everything from negative press to bloggers and short sellers for WaMu’s obvious struggles. I blame WaMu. There is solid evidence everywhere that WaMu is struggling. The stock price plunging aside, the massive amounts of the most toxic of loans ever created on their balance sheet is well-known and what is at the heart of their troubles.






Hmm... gets me thinking. So if I pick up a few thousand plummeting shares of Wamu at a ridiculously low price, and Chase buys them out, I now have thousands of shares of prime Chase stock? Smiley Happy Die Wamu Die!
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Message 15 of 25
Established Contributor

Re: Chase to purchase Wamu?



mjbfan79 wrote:
I just opened a checking an saving account with Wamu should i worry?





As long as you only have $100,000 or less, you are FDIC insured even if they go under. But I think they would try to salvage what they can and sell their company to Chase before Feds took full control over them.

Are you familiar with the Indy-Mac bank situation?
American Express Blue Cash Everyday $6600
Barclays US Airways Premier World Mastercard $14500
Chase Sapphire Preferred $5000
Chase Freedom Visa $1000
Chase United Explorer $8500
Citi AAdvantage Platinum Select Visa Signature $7500
Citi ThankYou Premier World Mastercard $7500
Message 16 of 25
Valued Contributor

Re: Chase to purchase Wamu?



aftermath wrote:


As long as you only have $100,000 or less, you are FDIC insured even if they go under. But I think they would try to salvage what they can and sell their company to Chase before Feds took full control over them.

Are you familiar with the Indy-Mac bank situation?

 
Thx for the info yeah i heard about Indy-Mac on the news.


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Message 17 of 25
Highlighted
Valued Member

Re: Chase to purchase Wamu?

Here is an article that pretty much says the same as Timothy's article.
 
 
That WaMu's stock has dropped 31% in less than a  week is not a good sign...Not a good sign at all for WaMu.
 
I also agree with Timothy in the fact that WaMu has no one to blame but themselves. WaMu invested a lot in Sub-Prime and hi risk clientel and guess what, they dont call it HI RISK for nothing.
Problems cannot be solved at the same level of awareness that created them.
--Albert Einstein
Message 18 of 25
Senior Contributor

Re: Chase to purchase Wamu?



aftermath wrote:


Hmm... gets me thinking. So if I pick up a few thousand plummeting shares of Wamu at a ridiculously low price, and Chase buys them out, I now have thousands of shares of prime Chase stock? Smiley Happy Die Wamu Die!




Exactly. I was thinking about doing the same with Amex since their stock is also falling. Amex doesn't have massive debt with subprime mortgages, so I am sure they will rebound.

The WAMU idea sounds good also. Now all I gotta do is figure out how to buy it. I have no clue how to buy stocks.
Here we go again...
Message 19 of 25
Valued Member

Re: Chase to purchase Wamu?

Another new artical:
 
 
There is a lot of speculation about WaMu's financial troubles, but nowhere is there a mention of a buyout or merger. Their stock is staying stable this morning.
Problems cannot be solved at the same level of awareness that created them.
--Albert Einstein
Message 20 of 25