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BloggingStocks (Free subscription) | yesterday
Filed under: Housing With a $33.5 million judgment outstanding against him, O.J. Simpson would seem like a really, really dumb person to lend money to. But during the boom years of mortgage malfeasance, it seems, there was a really, really dumb lender ready and waiting to serve every really, really dumb borrower. The Seattle Times takes a long look at the collapse of Washington Mutual, and the greed,...
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BloggingStocks (Free subscription) | 11/23/2009
Filed under: Rumors , Management , JPMorgan Chase (JPM) , Options , Politics , DJIA , Financial Crisis A report in The New York Post suggests that Jamie Dimon, CEO of JPMorgan Chase ( JPM ), could be the logical replacement for current U.S. Treasury Secretary Timothy Geithner. The paper's sources indicate that "a number of policy makers have begun mentioning Dimon as a successor to Geithner,...
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FelixSalmon.com (Free subscription) | 11/14/2009
Many thanks to Paul Solman for putting my question to Sheila Bair. Her answer is quite astonishing in its chutzpah: Solman : Felix Salmon, who blogs for Reuters and does a lot of very interesting reporting, wanted us to ask this: was the Washington Mutual intervention a mistake, given the knock-on effects it seems to have had on the broader community. And more generally, is there anything you would...
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Payment News (Free subscription) | 10/27/2009
Yesterday and today, the Seattle Times ran a two part series about its former home town bank Washington Mutual titled "Reckless Strategies Doomed WaMu". In a word (actually two words!), it was the: Option ARM.
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Fool.com (Free subscription) | 10/26/2009
A look at the failure that is Washington Mutual.
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iStockAnalyst.com (Free subscription) | 10/26/2009
Remember the iconic Depression-era movie “Mr. Smith Goes to Washington, in which Jimmy Stewart plays the wholesome young man in Washington out to do good? Well, Mr. Smith could just as easily have been your friendly banker at Washington Mutual. [More...]
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Really Small Fish (Free subscription) | 10/19/2009
JP Morgan, paragon of virtue:One of them is JPMorgan Chase (JPM), whose chief executive, Jamie Dimon, has largely escaped the pitchforks aimed at his fellow Wall Street CEOs. Over the course of the financial crisis, JPMorgan Chase remained profitable, a pillar of relative stability in the midst of an earthquake. The bank absorbed the failed Bear Stearns and Washington Mutual, while accepting $25
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The Daily Beast (Free subscription) | 10/10/2009
From Duff McDonald's new book, Last Man Standing, the story of how JPMorgan's takeover of Washington Mutual made CEO Jamie Dimon a Wall Street survivor. The purchase of the assets and deposits of Seattle-based Washington Mutual-WaMu-in September...
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SeekingAlpha.com (Free subscription) | 10/09/2009
Rick Newman submits: Are all bankers evil? Maybe not. Over the past year, it's become fashionable to trash Wall Street for unbridled greed and the rapacious use of billions in taxpayer bailout funds. Much of the outrage is justified, since Wall Street firms like Bear Stearns, Lehman Brothers ( LEHMQ.PK ), Merrill Lynch, and Citigroup ( C ) stoked the flames that nearly torched the entire economy....
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SeekingAlpha.com (Free subscription) | 10/02/2009
Saj Karsan submits: Almost exactly one year ago, Washington Mutual basically declared bankruptcy, resulting in shareholders losing pretty much their entire investments. A day before the bank went down, here's what analyst recommendations looked like: (Click to enlarge) Though it makes little sense that there were so many "hold" recommendations, at least a good number of analysts rated it...
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Payment News (Free subscription) | 10/01/2009
In an article titled "Chase Cards Today: No Wamu DNA", Maria Aspan writes for the American Banker in Thursday's edition about how Chase Card Services has been handling the Washington Mutual credit card portfolio it acquired when Chase took over WaMu earlier this year. Bottom line: Chase is much more risk averse and decided to exit much of WaMu's higher risk cardholders. Aspan notes: "If...
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The Street (Free subscription) | 09/25/2009
JPMorgan Chase shareholders might want to keep an eye on Lehman Brothers' case against Barclays -- Washington Mutual creditors probably are.
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Stocks to Watch Today (Free subscription) | 09/21/2009
Shell of Washington Mutual finds an appetite among some traders
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The Street (Free subscription) | 09/17/2009
Washington Mutual's failure nearly a year ago was the most prominent example of an ongoing and much-needed consolidation of the U.S. retail banking industry.
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