Can you say J.P.Morgan - Chase?

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Can you say J.P.Morgan - Chase?

Post by Geezaldinho on Thu Sep 25, 2008 10:20 pm

Wamu is history. we're now gettyng all the platitudes about how your money is safe,the transition will be seamless, yada -yada.

I lived trough this back East when the biggest bank in the state folded. You couldn't get at your money for six months, you got no interest, and some people had to borrow money to survive.

I hope the Feds handle it better this time.

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Re: Can you say J.P.Morgan - Chase?

Post by Rob's Jacket on Thu Sep 25, 2008 11:55 pm

I transferred my checking and savings from WaMu to Wells Fargo exactly one week ago.

Whew!

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Re: Can you say J.P.Morgan - Chase?

Post by Geezaldinho on Thu Sep 25, 2008 11:57 pm

Rob's Jacket wrote:I transferred my checking and savings from WaMu to Wells Fargo exactly one week ago.

Whew!

that should buy you a week....easy.

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Re: Can you say J.P.Morgan - Chase?

Post by Rob's Jacket on Thu Sep 25, 2008 11:59 pm

Thanks for the reassurance.

This is awful.

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Re: Can you say J.P.Morgan - Chase?

Post by Geezaldinho on Fri Sep 26, 2008 12:02 am

Google reported a record number of searches today on......gold.

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Re: Can you say J.P.Morgan - Chase?

Post by up7587 on Fri Sep 26, 2008 12:04 am

I got my gold bars under my feet right now!

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Re: Can you say J.P.Morgan - Chase?

Post by Geezaldinho on Fri Sep 26, 2008 12:21 am

which brings up an interesting thought.

Your job just disappeared.
Your 401k just went to the bahamas in the account of a wall street dude on the lam.
You're 2 years past retirement.

Though of a new career?
I thought maybe baby sitting, or lawn maintenance.

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Re: Can you say J.P.Morgan - Chase?

Post by FANatic on Fri Sep 26, 2008 9:29 am

I almost laughed at that last one, Geez, but it's really not funny. 'Cause it's a real scenario for many people. Just when you thought you would be enjoying your retirement, you have to go back to work.

Cruel is the word that comes to my mind. Is any one group responsible for all of this? Or is it just the inevitable downfall of a wealthy, spoiled country?

(Don't want this to get partisan. When that happens, people close minds and stop talking. EVERYONE is on the same sinking ship this time).

Can't believe I'm talking like it's doomsday! Don't think it's that bad - yet...

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Re: Can you say J.P.Morgan - Chase?

Post by Rochin54 on Fri Sep 26, 2008 11:25 am

I believe this adequatly explains it (warning, may be offensive language at the end of the show):

The sub-prime primer

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Re: Can you say J.P.Morgan - Chase?

Post by PurplePrideTrumpet on Fri Sep 26, 2008 1:58 pm

I saw that linked on another blog a month or so ago. It really is very good.

The creating new securities, then making up an offshore company to "own" them is very much like the hijinks Enron was pulling until they ran out of money. And this time, a lot more people are going to get hurt.

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Re: Can you say J.P.Morgan - Chase?

Post by Auto Pilot on Fri Sep 26, 2008 8:14 pm

Lax oversight in the mortgage industry resulted in the biggest Ponzi scheme in the history of the United States. I know its hindsight but I remember all the talk about the Fed and what Ben Bernike was going to do to short term interest rates every two weeks, and it was all so myopic and small minded. The ramifications of all this are quite beyond me and frankly beyond either of the presidential candiates as neither seemed to want to really analyze the situation in tonight's debate.

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Re: Can you say J.P.Morgan - Chase?

Post by Rob's Jacket on Fri Sep 26, 2008 10:33 pm

Keeping this as apolitical as possible, I'm not entirely certain it's fair to judge either presidential candidate's reaction to the crisis based on tonight's debate for two reasons:

1.) Technically speaking, this was supposed to be a debate about foreign policy.
2.) It's tough for them to give their position on legislation that was being written as they were debating.

Personally, I'll be interested to hear what they have to say when they can actually focus an entire debate on domestic policy.

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Re: Can you say J.P.Morgan - Chase?

Post by FANatic on Sat Sep 27, 2008 6:34 pm

Good point, Rob's J. Really, I don't think anyone in the country has a full grasp of this monster right now. There's just too much that has yet to be uncovered in the rubble.

It may be a while before this gets sorted out.

In the meantime: Sign-Danger

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Re: Can you say J.P.Morgan - Chase?

Post by mikemac65 on Sun Sep 28, 2008 8:24 am

Ah, unbridled deregulation. Rules Hopefully now we can say there will be rules and Wall St. must abide by them or pay serious consequences. Maybe now our new age of robber barons will cease. Rant Well I just felt it needed to be said!

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Re: Can you say J.P.Morgan - Chase?

Post by FANatic on Mon Sep 29, 2008 5:48 pm

up7587 wrote:
I got my gold bars under my feet right now!
That's the big difference between you and me, up7587.

I got my chocolate bars under my feet right now!

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Re: Can you say J.P.Morgan - Chase?

Post by DaTruRochin on Wed Oct 01, 2008 9:45 am

I've begun constructing my own Thunderdome... It should be ready for mortal combat in a few weeks. To the winner goes a gallon of gasoline... And a rousing rendition of the fight song pig

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Re: Can you say J.P.Morgan - Chase?

Post by Stonehouse on Wed Oct 01, 2008 10:04 am

[Shouting in my best Aunty Entity voice]
"WE DON'T NEED ANOTHER HERO!!! We don't need to know the way home. ALL WE WANT IS LIFE BEYOND... the thunderdome!"

Oh sweet lord I love me some Mad Max references.

Can we please somehow work Toe Cutter into this conversation?


Last edited by Stonehouse on Wed Oct 01, 2008 10:16 am; edited 1 time in total

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Re: Can you say J.P.Morgan - Chase?

Post by Geezaldinho on Wed Oct 01, 2008 10:07 am

You mean, like:

"I'm going to put my Merrill Linch agent's feet in the toe cutter" ?

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Re: Can you say J.P.Morgan - Chase?

Post by Stonehouse on Wed Oct 01, 2008 10:09 am

That'll work. Smile

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Re: Can you say J.P.Morgan - Chase?

Post by DaTruRochin on Wed Oct 01, 2008 3:48 pm

And lest we forget Master Blaster....


TWO MEN ENTER. ONE MAN LEAVES!!!

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