Wamu WKN 893906 News !

ist mir auch recht, dann sind die gewinne steuerfrei.
( zumindest nach jetzigen gesetzten in österreich )

http://www.financial-planning.com/news/...-prelude-gave-708161-1.html



OTS press release and recording about the seizure of Washington Mutual...notes they were well-capitalized

http://ots.gov/...ContentType_id=4c12f337-b5b6-4c87-b45c-838958422bf3



Washington Mutual had $50 billion cash available from the secondary Fed Reserve Window in San Francisco

http://www.kccllc.net/documents/0812229/0812229081009000000000002.pdf


Of note WMI also had approx 4 billion in an account in WMB (WAMU the bank) at the time of seizure. It has been reported this money was Cash. WAMU was liquid.
Of interest NO FIGURES have been put out by the government to substantiate the claim that WAMU was not liquid.

The 4+ billion dollar deposit is well documented throughout the beginning of the bankruptcy hearings as JPMorgan is trying to claim it as is the FDIC....(see this link for ALL court documents http://www.kccllc.net/disclaimer.asp )

nice when you can buy a 4 Billion dollar account for 1.9 Billion and get 2200 or more bank branches and more than 100 Billion in deposits, an untold amounts of loan revenues eh? Then make 2-4 Billion per year after the acquisition. JPM has not been shy about declaring how well they did with the WAMU acquisition.

Of interest is that it has recently come to light that on the 18th of September there was a 550 Billion dollar drawn down on money market funds during a 2 hour period. Why was Washington Mutual singled out when this drawn down was occurring at all banks? There was a country wide financial meltdown...why was WAMU chosen to be seized?

Washington Mutual was liquid and well capitalized. It cannot be justified that it was seized. Seizure was pre-mature and unwarranted. Additionally, market charts show that the day following the seizure, the markets took a nosedive. This is because investors felt they could no longer trust the govt, since they had become erratic in their treatment of the banking crisis. The OTS/FDIC caused the very thing it is supposed to prevent...a total panic.

http://seekingalpha.com/article/...ame-to-an-end-on-september-18-2008


FDIC auction "offer". -- essentially says that the bidders can have the bank for nothing as long as they pay the administrative costs of the transaction (which is left blank) .... also says they can have anything, whether they are on the banks books or not (this info is on page one)

1) Bair has said this did not cost the tax payers a dime, but what were the administrative costs...? All the following documents are posted at http://jpm.isadork.com/docs/ and were supplied via FOIA


http://jpm.isadork.com/docs/JPMCoverLetter.pdf NOTE: they redacted quite a bit of info


http://jpm.isadork.com/docs/gib/WaMuBidInstructions.pdf

http://jpm.isadork.com/docs/gib/...ngton_Mutual_Bank_Closing_Book.pdf

Of note the FDIC updated their billing process on the same day...coincidence?

http://www.fdicig.gov./reports08/08-018.pdf Sept 23rd...the same day they secretly put WAMU on the auction block


Of note, there was another bid for the bank, which the FDIC will not release due to privacy issues. Also of note, banks were quoted as saying they would not bid on WAMU until they saw what would happen with TARP..Congress was in debate about that and it was expected to pass at any time. It turned out passing 4 days after WAMU seizure.

FDIC Purchase and assumption agreement

http://www.fdic.gov/about/freedom/Washington_Mutual_P_and_A.pdf

NOTE: It cites addendum 3.1a as a list where everything in the purchase is listed. After someone wrote the FDIC wanting a copy of that list, they then wrote on the FDIC website that it was a scriveners error and no 3.1a document exists...so that means there is NO list of what JPM bought in the sale agreement.

Financials at time of seizure

http://jpm.isadork.com/docs/...ialStatements(unaudited)thru123108.pdf


Banks are waiting for TARP while Roy Smith spills the beans about the secret auction being organized for WAMU--result? FDIC seizes one day early due to leak

http://ori.msnbc.msn.com/id/26859148/
"It's not like WaMu is dead and buried," Roy Smith, a professor of finance at the Stern School of Business at New York University, said in an interview. "If anything, it looks better than it did last week."

Though few details have been disclosed, the new plan for the government to buy up to $700 billion in toxic mortgage-related assets could have a positive effect for the Seattle-based bank by halting the price fall of those assets — which are at the heart of WaMu's problems.

"I thought a sale (of Washington Mutual) was going to be difficult until this proposal," said Fox-Pitt Kelton analyst Howard Shapiro.

Still, potential suitors remain on the sidelines, likely waiting for the government to make the first move on WaMu in an effort to get the best possible deal.

"The government doesn't want to take them over; no question about that," said Smith. The thrift's future "is largely left to the bidders in the auction that is being organized for it."




JPMorgan objects to having to show what they bought (file claim) by 3/30/09...that is because they can't...there is no list in the purchase and assumption agreement (3.1a)

http://www.kccllc.net/documents/0812229/0812229090122000000000001.pdf


Page 9 Weil and Gotshal have filed a claim against the FDIC....WMI was given $0.00 for the bank which was valued in the neighborhood of 26 Billion dollars by the FDIC (and it is thought by some the value is actually be more) --the FDIC failed to get a reasonable price, but they are required, by law to do so


http://www.kccllc.net/documents/0812229/0812229090205000000000005.pdf



In short, the OTS did not do it's job....they caved to pressure from the FDIC and seized an institution that was both liquid and well capitalized. We do not know if WAMU was among the banks that were involved in the scandal that caused Dochow to leave the OTS in disgrace. Of note, about 2 weeks before the seizure, WAMU entered into a memorandum of understanding with the OTS. They did not require WAMU to increase liquidity or capitalization and felt WAMU would be OK in the medium term. The OTS also did not issue a letter giving WAMU a specified date to improve its liquidity position (This is required by law) .

The SEC did not do it's job nor did Paulson in not stopping naked short selling. Paulson should have extended the no short list to all banks. WHY would anyone not protect the 6th largest bank in the country from attacks through short selling. Naked short selling and short selling in general hurt WAMU a lot during this time.

The FDIC did not do its job by not getting a fair deal for WAMU. They offered the banks to have her for nothing. There should have been a reasonable minimum bid sent out to participants in the auction. The FDIC may arguably have breeched their contract with WAMU.

Washington Mutual was very obviously singled out for several things that speak to unfair and unequal treatment. WHY? Mostly it was a victim of incompetence of several government agencies.

How can the US let this stand? A Bank which was liquid and well capitalized was seized, and unjustifiably so. Investors were wiped out of about 30 Billion dollars, much of it in investment portfolios and retirement and pension funds. This also caused an immediate severe decline of the markets. A chart showing this can be found at

http://www.wamurape.org/wamurape.aspx?g=posts&t=627

Investors took note of this, and now have no faith in the government, and the banking industry. If for no other reason than saving the economy, WAMU should not have been seized.

Although there has been an ongoing investigation (FBI, SEC, OTS, Atty General) into this since shortly after the seizure, nothing has been disclosed to the public. The stockholders deserve a full and open Congressional Investigation and Hearing on these matters. They also deserve to be justly compensated for their bank.


I suggest anyone with additional into to send it to Jon

jtalton@seattletimes.com

It appears we MAY be getting the story we have waited for for so long...

"ist mir auch recht, dann sind die gewinne steuerfrei.
( zumindest nach jetzigen gesetzten in österreich ) .."

freu dich nicht zu früh.....die derzeitige regierung plant
eine finanztransaktionssteuer, in zusammenarbeit mit der IWF...
kommt es zu keiner internationalen lösung, plädiert die SPÖ
für einen österreichischen alleingang in form einer
"börsenumsatzsteuer neu".....

die staatskassen sind leer...die brauchen neue einnahmen !!

winner

Einen österreichischen Alleingang wird es nicht geben .
Pröll lehnt in ab ,und Faymann weiß auch schon , daß danach der
heimische Börsenplatz passe ist.

"Einen österreichischen Alleingang wird es nicht geben.."

denke ich auch....ich vermute, dahinter steckt sowieso
nur "parteipolitisches geplänkel" von seitens der SPÖ
dahinter, um ihr klientel bei der stange zu halten....

nichts desto.....bei wamu sollte in den nächsten 2-5 monaten
alles entschieden sein.....so oder so....

winner

...verarschen lassen. Kommt nicht wieder vor.

Gruss, St. JCF

Washington Mutual Inc. and its Long Beach Mortgage Co. subprime-lending unit rang up one of the worst failures in U.S. history. Left in the wake were billions of dollars of soured loans and questionable lending practices.

But when times were better, the two companies had a powerful partner on Wall Street: Goldman Sachs Group Inc.

 

Recently released emails and other documents, including securities filings, show how Goldman, considered one of Wall Street's most elite banks, built its mortgage business by closely working with lenders such as Washington Mutual and Long Beach, two firms that "polluted the financial system" with souring loans, according to a Senate review of Washington Mutual on April 13.

"Long Beach…was not a responsible lender," Sen. Carl Levin (D., Mich.), chairman of the Senate Permanent Subcommittee on Investigations, said in his opening remarks April 13. "Its loans and mortgage-backed securities were among the worst performing of the subprime industry."

Goldman declined to discuss its business with Washington Mutual or the communications in the emails released by the Senate panel.

Goldman was one of several Wall Street firms that helped sell bonds backed by Washington Mutual loans. Over the weekend, the Senate subcommittee released internal Goldman emails, including one showing that the firm made a $5 million trading profit by betting against securities Goldman sold in a Long Beach bond offering that lost money for its investors, raising a potential conflict with its clients. On Tuesday, the panel plans to question Goldman executives in a separate hearing.

The emails and others like them highlight "the importance of transparency, the importance of things being in the open, the importance of it being known who is in a position to benefit from what," senior White House adviser Lawrence Summers said Sunday on CBS's "Face the Nation."

Much has been written about Washington Mutual's failure. In September 2008, the Seattle lender was forced to sell itself to J.P. Morgan Chase & Co. at the height of the crisis in the largest-ever U.S. bank failure. But there has been less scrutiny of the ties between Washington Mutual and Goldman, which emerged stronger than rivals after the mortgage market's collapse.

J.P. Morgan said the Washington Mutual loans and securities being investigated were issued before J.P. Morgan's purchase of Washington Mutual. A lawyer for former Washington Mutual Chief Executive Kerry Killinger couldn't be reached.

At times, executives at Washington Mutual discussed seeking out Goldman for its reputation for excellence, according to Washington Mutual emails. But Washington Mutual executives also were wary of their partner because of concerns about how the Wall Street firm traded.

"We always need to worry a little about Goldman because we need them more than they need us and the firm is run by traders," a Washington Mutual executive wrote in an email released by the Senate panel in its probe of the lender.

Long Beach was founded in 1979 as Long Beach Savings & Loan by Roland Arnall, a Los Angeles developer who got his start in business in Los Angeles selling flowers on a Los Angeles street corner. A unit called Long Beach Financial Corp., based in Orange, Calif., was sold to Washington Mutual in 1999.

Aided by mortgage brokers who channeled loans to Long Beach, Washington

Mutual and Long Beach ended up bundling subprime home loans into $77 billion worth of securities, according to the Senate inquiry.

 

Some Long Beach bonds were ultimately used to allow Wall Street firms and hedge funds to bet against the U.S. mortgage market. Long Beach bonds were among those underpinning subprime-mortgage indexes—assembled by Goldman and other Wall Street firms—that allowed those firms and hedge funds to bet against the housing industry, according to data provided by Markit Group Ltd., which helps run the indexes.

The Long Beach loans ended up being among the worst performing in the indexes, according to a Nomura Holdings report. Separately, some Long Beach bonds also underpinned the Abacus 2007-AC1 debt pool now at the center of a Securities and Exchange Commission securities-fraud case against Goldman, which the firm is fighting.

By 2005, Long Beach was in trouble. According to the Senate report released April 13, Long Beach had to buy back $875 million of nonperforming loans from investors. Problems persisted.

Behind one sale of Long Beach securities was Goldman. In 2006, Goldman teamed with a Washington Mutual unit to sell a debt pool called Long Beach Mortgage Loan Trust 2006-A. Both firms agreed to buy some of the securities with the intention of reselling them or making a secondary market for them, according to a prospectus for them. Of the $496 million deal, Goldman was expected to purchase about $322 million of the securities with the intention of reselling them.

Washington Mutual executives appeared troubled by loans at Long Beach.

In an April 2006 email, a Washington Mutual executive told Mr. Killinger that

Long Beach's "delinquencies are up 140% and foreclosures close to 70% ... It is ugly."

By early 2007, Goldman bankers also were growing anxious about their business dealings with Washington Mutual and Long Beach, according to emails released as part of the Senate investigation into Washington Mutual.

A Goldman banker raised questions about the performance of Long Beach loans that were "performing dramatically worse" than other similar deals in 2006. "As you can imagine, this creates extreme pressure, both economic and reputational, on both organizations," the Goldman banker said.

In May 2007, Goldman executives were discussing problems facing the debt deal it had helped underwrite called Long Beach Mortgage Loan Trust 2006-A, according to emails released by the Senate panel.

Among the Senate documents is an email from a Goldman executive to Michael Swenson, then a Goldman managing director in the firm's mortgage group, about the 2006-A bond deal. In an 8 a.m. email, Goldman executives circulated a securities report that showed loans inside the pool had soured.

Six minutes later, a Goldman executive wrote, "bad news…(the price decline in the bonds) costs us about 2.5 mm," adding, "good news…we make $5mm" on a derivatives bet against the bonds.

The Senate panel, in a statement over the weekend, said the email showed how the soured Long Beach bonds "would bring [Goldman] $5 million from a bet it had placed against the very securities it had assembled and sold."

Mr. Swenson declined to comment through a Goldman spokesman. He is among the Goldman executives set to appear at Tuesday's hearing. A Goldman spokesman said in a statement: "It's our standard, prudent practice to hedge exposures."

Despite the close relationship between Washington Mutual and Goldman, Washington Mutual wondered which side Goldman was on. In October 2007, Mr. Killinger wrote in an email about a situation with Goldman: "I don't trust Goldy on this. They are smart, but this is swimming with the sharks. They were shorting mortgages big time."

 

 

ich weiss nicht ob das hier schon gepostete wurde. Wenn ja, dann nocheimal für alle die es noch nicht gelesen haben:

www.dailymetronews.com/...or-washington-mutual-nyse-c-4/988550

Was könnte dies für uns (WAMU-Aktionäre) bedeuten?

Guten morgen!

Guten Morgen lieber WAMU´ianer :-)

Kann mir jemand kurz und knapp erklären ob oder was am Wochenende passiert ist? Hab jetzt keine Lust die 5000 Seiten vom Wochenende durchzublättern, da ja eh zu 95% nur Müll drin steht!

Vielen Dank !!

Hi hab versucht es so gut wie möglich zu übersetzen - die news von Daily Metro News April 2010 - was sollen wir hiervon halten? Fefakte News? Wahrheit?

Citigroup hat einen guten Geschäftsverlauf vor kurzem, hat das Unternehmen angekündigt, das es für Q1 positive Ergebnisse hatte. Citigroup (NYSE: C) Aktien belief sich auf 4,87 ab 2010.04.22 bedeutet einen -0,06 - -1,22% Veränderung gegenüber dem vorherigen Handelstag.

Citigroup, ein Unternehmen in der Money Center Banken (Financial Services) Industrie, hatte eine Reihe von Schlagzeilen in letzter Zeit.  die zu einer 33,3% Steigerung ihrer Aktien über die letzten 3 Monaten geführt hat.

Citigroup hat ein Gebot für Washington Mutual abgegeben. Citigroup forderte die Bundesregierung auf, die meisten der erwarteten Verluste aus der Seattle-Milliarden in schlechten Hypothekendarlehen, zu übernehmen.

Auch nach Austausch ist die Aktien "-Typen von MSN in den folgenden Bereichen:

Technical Note: A
Bewertungstag Grade: F
Fundemental Grad: A
Return Note: B
Risk Grade: D

Schließlich halten, egal ob Sie entscheiden zu kaufen oder zu verkaufen Citigroup (NYSE: C) vergewissern Sie sich nach dem Handel über den richtigen Preis. Das Timing des Marktes oder die technische Analyse stellen oft eine harte Aufgabe, aber stellen Sie sicher, berücksichtigen die historischen Kursdaten:


Preis Geschichte
Letzter Preis: 4,87
52-Wochen-Tief / Hoch: 2,55 / 5,43
50-Tage Moving Average: 3.85
6 Monate Preis Change%: -0,7%
12 Monate Preis Veränderung in%: 13,7%

Wir werden weiterhin die Kontrolle der C (NYSE: C) und die  Entwicklungen in den nächsten paar Wochen verfolgen

ballaballa... L&S vergessen!!! Reagiert nur bei schlechten NEWS ;-))

 

Ich hatte bereits darauf hingewiesen und wollte damit zum Denken anregen.Leider meldeten sich nur die üblichen Hirnlosen die sofort wieder Nazis hinter den Büschen lauern sahen.

Hier noch einmal für die wenigen hier an Board die mehr im Kopf haben.

: "Die Familie Rothschild, der die Citigroup sowie J.P.Morgan Chase mit Haut und Haar gehört"

Da drängt sich mir der Verdacht auf,die haben zusammen gearbeitet und wussten beide schon was passieren wird.JPM kommt billiger dran.

Der Bericht bezieht sich auf das Übernahmeverfahren vom Jahr 2008 und nicht auf ein aktuelles "Übernahmeangebot"
Warum sollte die news ein fake sein - die news gibt es seit Tagen auf allen möglichen Seiten.

Ich gebe zu, dass der ganze Artikel schon etwas verwirren kann.

weiterhin gilt die Konzentration auf den vorgelegten POR und dessen Ablehnung.
Als 2. folgt die Hauptversammlung

alles andere ist im moment Zeitverschwendung

Weiß zufällig jemand, wie sich die Grundstück-Preise
auf Long Beach entwickeln ? Wäre nicht uninteressant
im Zusammenhang mit den Krediten. So faul scheinen sie
ja nicht zu sein.

ich sah das Datum April 2010 - na dann warten wir auf wirkliche news - sorry für meine Deppigkeit.

world of wamu skala geht bis 1€...bestimmt ein Fehler...habe es so noch nie gesehen..

wieso soll das dein fehler sein? selbst wenn die skala bis 20€gehen würde, wäre das legitim... die wamu linie läuft halt leider im 13cent bereich ;)

gabs letzte woche schonmal mit der skala bis 1Euro, wurde relativ schnell wieder "weggemacht", wird sicher gleich korrigiert, also keine Aufregung.

doch nicht mehr als wir ...

das hier Leute sogar in die Skala, sprich nur in eine dämliche graphische Darstellung, Kurssprünge reininterpretieren.

Unfassbar!

Du kennst wohl den Alaadin nicht ;-)

Bezeichnung Euphorie ist wirklich untertrieben bei diesem Knaben! Umso heftiger wird der Aufprall auf dem Boden sein FALS wir am Schluss doch nur den JPM-Mittelfinger gezeigt bekommen! Der Alaadin tut mir schon jetzt leid!!

 

Also ich glaube das es jetzt mal fürs erste war bis zur HV! man siehts an den Umsätzen. Wenige kaufen, wenige Verkaufen. Viele warten einfach ab. Und solange nicht handfeste Neuigkeiten kommen wird sich auch nix ändern. Vielleicht auch gar nicht so schlecht... wie schon oft geschrieben kommts dann genauso wenn mans am wenigsten erwartet.

 

lg

verwechselst du hier nicht irgendwas?
du bringst mich ganz durcheinander...
der Artikel beschreibt eine mögliche Übernahme durch Citi, allerdings im Jahre 2008 und nicht zum heutigen Tage.
Ausserdem was meinst du mit "citi liess eigene Aktionäre leer ausgehen"? Verwechelste das nicht mit der vielzitierten CIT-Pleite?

Wer is denn dein Broker und is er auch investiert hier? :D kleiner spass...

gruß