http://www.bargaineering.com/articles/your-take-applaud-the-fdic-on-wamu-wachovia-deals.html personal finance blog with anecdotes, advice and commentary. Sun, 22 Nov 2009 06:04:27 -0500 http://wordpress.org/?v=2.8.5 hourly 1 http://www.bargaineering.com/articles/your-take-applaud-the-fdic-on-wamu-wachovia-deals.html/comment-page-1#comment-288734 Mike Fri, 03 Oct 2008 14:14:33 +0000 http://www.bargaineering.com/articles/?p=3579#comment-288734 I didn't really follow the Wachovia takeover, but what the FDIC did with the WM takeover was downright criminal. They took over a bank that had 150 billion dollars in assets (about 30 billion of those would have had to been written down or off) and sold it to another bank for 1.9 billion. They stock holders got nothing. WM was still above the required level of deposits that is mandated by the FDIC when the takeover occured. If they would have allowed WM to stay in business until the bailout package was passed, WM would have sold in the $6-$8 a share range to JP Morgan. Instead they were able to pick it up for about $.16 a share. I didn’t really follow the Wachovia takeover, but what the FDIC did with the WM takeover was downright criminal. They took over a bank that had 150 billion dollars in assets (about 30 billion of those would have had to been written down or off) and sold it to another bank for 1.9 billion. They stock holders got nothing. WM was still above the required level of deposits that is mandated by the FDIC when the takeover occured. If they would have allowed WM to stay in business until the bailout package was passed, WM would have sold in the $6-$8 a share range to JP Morgan. Instead they were able to pick it up for about $.16 a share.

]]> http://www.bargaineering.com/articles/your-take-applaud-the-fdic-on-wamu-wachovia-deals.html/comment-page-1#comment-288722 Andy Abraham Fri, 03 Oct 2008 12:48:19 +0000 http://www.bargaineering.com/articles/?p=3579#comment-288722 What do investors do in these times.. does it really matter what happens on the vote on the bailout... we have been discussing this on myinvestorsplace.com ... no one knows what to do... would like to hear opinions for us personally and for our country... What do investors do in these times.. does it really matter what happens on the vote on the bailout… we have been discussing this on myinvestorsplace.com … no one knows what to do… would like to hear opinions for us personally and for our country…

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