WaMu

Chapdog said:
Its easy to pick what stocks will sky rocket. just find the ones that were targeted by bear raids. Look for Naked short volume.

$100 bucks in Washington Mutual could make you 10k... worth a shot.
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Yup, and if you are right in only 1 in 10 cases, you still have 9K more than your original investment.
 
Well, this one has a pretty good chance in my oppinion. With Geitner trying to get the FDIC all these new powers, the last thing he wants is discovery that will undermine his plans. I'm almost certain it will be settled out of court.

My guess is this will be settled before dispositions can begin.
 
DigitalDave said:
Well, this one has a pretty good chance in my oppinion. With Geitner trying to get the FDIC all these new powers, the last thing he wants is discovery that will undermine his plans. I'm almost certain it will be settled out of court.

My guess is this will be settled before dispositions can begin.
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interesting idea. Like you said, not something to throw a lot of cash at as it may go to zero, but maybe throw a bit at it to see if you hit the jackpot. Better odds than the lottery. :)
 
It's called the Depositor Protection Act of 2009 (S. 541), and instead of $500B, they are looking to raise it to $100B.
 
March was a 'little rough'...

What made March a rough month for JPMorgan? Housing Numbers are getting better, Banks in general are talking of returning money to the TARP fund. Only thing I see that would make this month a negative month for him is.. well... you read into what you want. You know what I think :)
 
The Senate Committee on Banking and Housing and they said the current status of S.541 is in committee. We will know about a week in advance before it goes to mark-up or hearings start.
 
They are saying that S.541 will be voted on shortly after the Congressional break ending Apr. 20. If you have some extra cash to gamble with, I would suggest buying Preferreds (WAMPQ). They are, at face value, worth $1000, and selling at just under $5.00 right now. Actually Market Manipulators are keeping it in the $4.90-$4.95 range (No one here has enough to break the wall these guys put up, so I don't see it breaking $5.00 at all before things are settled) and trying to load up. I spent $150 to get 30 shares, which may in turn become $30,000 +possibly dividends at 7.75% of the $1000 PPS. This is basically a dream scenario, but could happen. Also keep in mind that Preferreds will get paid first before common sees anything.
 
DigitalDave said:
They are saying that S.541 will be voted on shortly after the Congressional break ending Apr. 20. If you have some extra cash to gamble with, I would suggest buying Preferreds (WAMPQ). They are, at face value, worth $1000, and selling at just under $5.00 right now. Actually Market Manipulators are keeping it in the $4.90-$4.95 range (No one here has enough to break the wall these guys put up, so I don't see it breaking $5.00 at all before things are settled) and trying to load up. I spent $150 to get 30 shares, which may in turn become $30,000 +possibly dividends at 7.75% of the $1000 PPS. This is basically a dream scenario, but could happen. Also keep in mind that Preferreds will get paid first before common sees anything.
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Good call on the preferreds vs. common.
 
DigitalDave said:
S.541 was approved in the committee today. Should be a vote in the next couple weeks.
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Now I know that this bill is designed to increase the borrowing capabilities of the FDIC.... but why is it that you think this bill will effect WaMu? Just trying to follow...
 
Basically, the FDIC doesn't have enough borrowing power to settle with WaMu. Settlement could be up to 60 Billion, but 20-25B looks very likely. When they are only allowed to borrow 30 Billion, they would have nothing left over after a settlement. FDIC will try their best to keep this quiet.
 
DigitalDave said:
Basically, the FDIC doesn't have enough borrowing power to settle with WaMu. Settlement could be up to 60 Billion, but 20-25B looks very likely. When they are only allowed to borrow 30 Billion, they would have nothing left over after a settlement. FDIC will try their best to keep this quiet.
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Ok.. I figured it might be something along those lines... it will be interesting to see how this plays out. I may pick up a small chunk of those preferreds. Just for shits and giggles. See what happens.
 
Superfreak said:
Ok.. I figured it might be something along those lines... it will be interesting to see how this plays out. I may pick up a small chunk of those preferreds. Just for shits and giggles. See what happens.
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I will stress to anyone that it should only be for shits and giggles. Don't invest anymore than 10% of your portfolio into this because it's all dependent on a legal matter. The case looks VERY stong for WMI, but I've seen weird things happen (Like the OTS seizing the biggest savings and loan bank and the FDIC selling it for 1.9 Billion to JPMorgan). This could make you look like Warren Buffet or it could make you look like my original profile on the Virtual Stock Exchange.. lol.
 
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