OK..enough is enough, WaMu is dead. I am a ex WaMu employee. The management made one horrible move after another. Buying Long Beach Mortgage SubPrime shop was the worse. All the genius traders, "intelligent" mangement did nothing to stop the bleeding. Originations kept making stated income loans..nail tech making $7 and hour were saying they made $7,000 a month. This and numerous other questionable processes. It is over. WaMu had no one to blame but themselves. I loved WaMu but I have finally faced the facts. JPMorgan did not have to take WaMu. They have tons of toxic assets on their books. They elected to do it and now WaMu is a drag on their financials. Yes, JP gains their Retail exposure on the West Coast an Fla but at a price. IT IS OVER.. WaMu is gone. Let's look forward and get out of this mess. Stop the WM posts....nothing gained by continuing.....
the biggest financial crime committed, everything back to business as usual, nobody behind bars and US government wants to restore confidence...poll!!! what is wrong with this picture...if question asked to future generation answer will be: no!! nothing wrong with this picture!
We already have idiot. The acquisition has cost JPM dearly. Annual earnings are crap, falling from better than $4 a share, the stock price. WAMU is a costly mistake. JPM should sell off the assets and dump this pig.
.....I really can't wait for J-PIG to get get to SINGLE DIGETS, it should be soon. Since SEPTEMBER 26, 2008 JPM has had a nice STEADY DECLINE. This makes me very happy. Enjoy your day JPM'ers. You see, there are many ways to pay for something, too bad jamie wants to pay the hard way!
J-PIG is having a slow death. September 26, 2008 JPM was $48.26 share, look where it is now, and is still falling more every day. All this need is a little bad news to come out, and it will be in SINGLE DIGITS.