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WASHINGTON MUTUAL Message Board

  • shawnn400 shawnn400 Oct 24, 2008 12:11 PM Flag

    Why WM is only $0.07 to WB, NCC, AIG

    PNC Financial Services Group Inc. said Friday it is acquiring National City Corp. for $5.58 billion,

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    • I just don't get it. Why are all these other banks that are in trouble being gobbled up by larger banks with mergers and stockholders' receiving equity for their shares. While we WAMU stockholders are getting 7 cents a share so far. Is it because the bank that was sold to the FDCI for $1.9 billion is totally separate and we still have the holding company with no bank. Without the bank, what is Washington Mutual, Inc., the holding company, going to be worth. And can it go as a separate entity with all its holdings. The only thing I see is the holding company selling off all its assets and the creditors of WAMU get everything and there is nothing left for us bagholders.

      I just don't get it. Am I missing something?

      • 2 Replies to stok1mom
      • we the shareholders were the sacrificial lamb.monday they were ready to pass the bail out as they saw the biggest bank in america was seized thing are therefore bad so the bailout bill must be passed

      • Yes you are,
        The holding corporation assets are not going to go to pay the creditors of the Banking Division.
        With out knowing what the asets are exactly is is hard to be sure but I believe the holding division is going to come out in good shape and even if it is decided to liquidate the stock holders will get somethng 32 biilion assets less 8 billion debt leaves a lot of room.
        and there all kinds of possibilities.
        Just dont panic. the 7 cents hel up real well to the down Market today.
        That says a lot.

 
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