Comments on: Bloomberg and Financial Times Running Contradictory Reports on Interest in WaMu http://www.nakedcapitalism.com/2008/09/bloomberg-and-financial-times-running.html Sun, 22 Nov 2009 03:53:33 -0500 http://wordpress.org/?v=2.8.4 hourly 1 By: Max http://www.nakedcapitalism.com/2008/09/bloomberg-and-financial-times-running.html#comment-16019 Max Fri, 19 Sep 2008 08:23:00 +0000 http://www.nakedcapitalism.com/2008/09/bloomberg-and-financial-times-running-contradictory-reports-on-interest-in-wamu/#comment-16019 <i>Nobody in there right mind would buy Wamu as is.</i><br/><br/>By buying WaMu the buyer qualifies for the Too-Big-to-Fail Federal Program (TBFFP). Nobody in there right mind would buy Wamu as is.

By buying WaMu the buyer qualifies for the Too-Big-to-Fail Federal Program (TBFFP).

]]> By: elizabeth http://www.nakedcapitalism.com/2008/09/bloomberg-and-financial-times-running.html#comment-15992 elizabeth Fri, 19 Sep 2008 02:05:00 +0000 http://www.nakedcapitalism.com/2008/09/bloomberg-and-financial-times-running-contradictory-reports-on-interest-in-wamu/#comment-15992 Nobody in there right mind would buy Wamu as is. First, who would want mgmt headache of dealing with inevitable legal tussles resulting from Wamu's aggressive dealings during the go-go days. Second, why pay a couple of billion and be stuck with toxic waste when you can wait and cherrypick like Barclays did with Lehman? Nobody in there right mind would buy Wamu as is. First, who would want mgmt headache of dealing with inevitable legal tussles resulting from Wamu’s aggressive dealings during the go-go days. Second, why pay a couple of billion and be stuck with toxic waste when you can wait and cherrypick like Barclays did with Lehman?

]]> By: Hu Flung Pu http://www.nakedcapitalism.com/2008/09/bloomberg-and-financial-times-running.html#comment-15986 Hu Flung Pu Fri, 19 Sep 2008 01:22:00 +0000 http://www.nakedcapitalism.com/2008/09/bloomberg-and-financial-times-running-contradictory-reports-on-interest-in-wamu/#comment-15986 I think Anonymous 7:07PM has it. There are no bidders for WaMu as a whole, but there are "interested parties" for the branch and deposit franchise who would bid if the credit quality issue could be taken off the table (Hanky Bernanke!!). When coupled with a black hole of credit risk, even the most attractive deposit franchise is untouchable. I think Anonymous 7:07PM has it. There are no bidders for WaMu as a whole, but there are “interested parties” for the branch and deposit franchise who would bid if the credit quality issue could be taken off the table (Hanky Bernanke!!). When coupled with a black hole of credit risk, even the most attractive deposit franchise is untouchable.

]]> By: Anonymous http://www.nakedcapitalism.com/2008/09/bloomberg-and-financial-times-running.html#comment-15985 Anonymous Fri, 19 Sep 2008 01:17:00 +0000 http://www.nakedcapitalism.com/2008/09/bloomberg-and-financial-times-running-contradictory-reports-on-interest-in-wamu/#comment-15985 Those damn shorts!<br/><br/>>> US companies are facing fresh pressure from regulators and shareholders to rein in excessive executive pay as research shows chief executives have been paid up to 10 times more than their top lieutenants.<br/><br/>The average total compensation for a S&P 500 chief executive was about twice as much as the second most highly paid executive last year, according to a study conducted for the Financial Times by the research group, Salary.com.<br/><br/>However, at SLM, the student loan group known as Sallie Mae, the pay of Thomas Fitzpatrick, chief executive, who resigned in May, was more than 10 times that of June McCormack, his executive vice-president.<br/><br/>At more than 30 other companies, the gap ranged from four times to seven times. Those damn shorts!

>> US companies are facing fresh pressure from regulators and shareholders to rein in excessive executive pay as research shows chief executives have been paid up to 10 times more than their top lieutenants.

The average total compensation for a S&P 500 chief executive was about twice as much as the second most highly paid executive last year, according to a study conducted for the Financial Times by the research group, Salary.com.

However, at SLM, the student loan group known as Sallie Mae, the pay of Thomas Fitzpatrick, chief executive, who resigned in May, was more than 10 times that of June McCormack, his executive vice-president.

At more than 30 other companies, the gap ranged from four times to seven times.

]]> By: ruetheday http://www.nakedcapitalism.com/2008/09/bloomberg-and-financial-times-running.html#comment-15982 ruetheday Fri, 19 Sep 2008 00:48:00 +0000 http://www.nakedcapitalism.com/2008/09/bloomberg-and-financial-times-running-contradictory-reports-on-interest-in-wamu/#comment-15982 It strikes me that if we end up with all of the investment banks merged into commercial banks, and all of these mammoth financial services entities swallowing up each other until there are only a handful left, that:<br/><br/>1. the chances of undoing Gramm-Leach-Bliley and re-instating Glass-Steagall becomes nonexistent<br/><br/>and<br/><br/>2. the chance of imposing any sort of "too big to fail = too big to exist" legislation becomes nonexistent<br/><br/>and we end up stuck with an extreme amount of market concentration in banking, thus setting the stage for the next crisis. It strikes me that if we end up with all of the investment banks merged into commercial banks, and all of these mammoth financial services entities swallowing up each other until there are only a handful left, that:

1. the chances of undoing Gramm-Leach-Bliley and re-instating Glass-Steagall becomes nonexistent

and

2. the chance of imposing any sort of “too big to fail = too big to exist” legislation becomes nonexistent

and we end up stuck with an extreme amount of market concentration in banking, thus setting the stage for the next crisis.

]]> By: jacflash http://www.nakedcapitalism.com/2008/09/bloomberg-and-financial-times-running.html#comment-15976 jacflash Thu, 18 Sep 2008 23:58:00 +0000 http://www.nakedcapitalism.com/2008/09/bloomberg-and-financial-times-running-contradictory-reports-on-interest-in-wamu/#comment-15976 <i>an analyst at KBW Inc. in San Francisco who rates WaMu ``market perform.''</i><br/><br/>The joke makes itself. Several jokes, actually. an analyst at KBW Inc. in San Francisco who rates WaMu “market perform.”

The joke makes itself. Several jokes, actually.

]]> By: dh http://www.nakedcapitalism.com/2008/09/bloomberg-and-financial-times-running.html#comment-15975 dh Thu, 18 Sep 2008 23:57:00 +0000 http://www.nakedcapitalism.com/2008/09/bloomberg-and-financial-times-running-contradictory-reports-on-interest-in-wamu/#comment-15975 If this is the last night to make comments about wall street or washington, I just wanted to say that Yves has done a great job here and I wish her well going forward and I hope your able to find warmth and things to eat, where ever they may send you! This was a good time, maybe the best of times:<br/><br/>It was the best of times, it was the worst of times, it was the age of wisdom, it was the age of foolishness, it was the epoch of belief, it was the epoch of incredulity, it was the season of Light, it was the season of Darkness, it was the spring of hope, it was the winter of despair, we had everything before us, we had nothing before us, we were all going direct to heaven, we were all going direct the other way - in short, the period was so far like the present period, that some of its noisiest authorities insisted on its being received, for good or for evil, in the superlative degree of comparison only. If this is the last night to make comments about wall street or washington, I just wanted to say that Yves has done a great job here and I wish her well going forward and I hope your able to find warmth and things to eat, where ever they may send you! This was a good time, maybe the best of times:

It was the best of times, it was the worst of times, it was the age of wisdom, it was the age of foolishness, it was the epoch of belief, it was the epoch of incredulity, it was the season of Light, it was the season of Darkness, it was the spring of hope, it was the winter of despair, we had everything before us, we had nothing before us, we were all going direct to heaven, we were all going direct the other way – in short, the period was so far like the present period, that some of its noisiest authorities insisted on its being received, for good or for evil, in the superlative degree of comparison only.

]]> By: rww http://www.nakedcapitalism.com/2008/09/bloomberg-and-financial-times-running.html#comment-15971 rww Thu, 18 Sep 2008 23:29:00 +0000 http://www.nakedcapitalism.com/2008/09/bloomberg-and-financial-times-running-contradictory-reports-on-interest-in-wamu/#comment-15971 The second headline is artful. There is no contradiction. The second headline is artful. There is no contradiction.

]]> By: Anonymous http://www.nakedcapitalism.com/2008/09/bloomberg-and-financial-times-running.html#comment-15969 Anonymous Thu, 18 Sep 2008 23:23:00 +0000 http://www.nakedcapitalism.com/2008/09/bloomberg-and-financial-times-running-contradictory-reports-on-interest-in-wamu/#comment-15969 Re: Contradictory Reports <br/><br/>The reason for the contradiction may have something to do with the delayed memo that said all news from now on will be good news, so I would take any confusion with a grain of salt, because the good news is priced in and all is well! Re: Contradictory Reports

The reason for the contradiction may have something to do with the delayed memo that said all news from now on will be good news, so I would take any confusion with a grain of salt, because the good news is priced in and all is well!

]]> By: Anonymous http://www.nakedcapitalism.com/2008/09/bloomberg-and-financial-times-running.html#comment-15966 Anonymous Thu, 18 Sep 2008 23:14:00 +0000 http://www.nakedcapitalism.com/2008/09/bloomberg-and-financial-times-running-contradictory-reports-on-interest-in-wamu/#comment-15966 ft has changed their story to match bloomberg ft has changed their story to match bloomberg

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