Comments on: TPG Makes Concession to Facilitate WaMu Raising Capital http://www.nakedcapitalism.com/2008/09/tpg-makes-concession-to-facilitate-wamu.html Mon, 23 Nov 2009 08:11:00 -0500 http://wordpress.org/?v=2.8.4 hourly 1 By: Richard Kline http://www.nakedcapitalism.com/2008/09/tpg-makes-concession-to-facilitate-wamu.html#comment-15881 Richard Kline Thu, 18 Sep 2008 08:18:00 +0000 http://www.nakedcapitalism.com/2008/09/tpg-makes-concession-to-facilitate-wamu-raising-capital/#comment-15881 I wonder who will inhabit WaMu's HQ when this is all over? I don't think they own it, a beautiful building dead center above the waterfront; we walked past it, Yves, but I don't think I remembered to point it out. See-through buildings indeed, in the words of Calculated Risk. . . . The only thing transparent in their former business model. I wonder who will inhabit WaMu’s HQ when this is all over? I don’t think they own it, a beautiful building dead center above the waterfront; we walked past it, Yves, but I don’t think I remembered to point it out. See-through buildings indeed, in the words of Calculated Risk. . . . The only thing transparent in their former business model.

]]> By: Anonymous http://www.nakedcapitalism.com/2008/09/tpg-makes-concession-to-facilitate-wamu.html#comment-15846 Anonymous Thu, 18 Sep 2008 04:41:00 +0000 http://www.nakedcapitalism.com/2008/09/tpg-makes-concession-to-facilitate-wamu-raising-capital/#comment-15846 Citi as a source of strength is pretty far fetched--for Wamu of for Morgan Stanley (though a Wachovia/Morgan Stanley combination also beggars the imagination).<br/><br/>As the price discovery process accelerates courtesy of the resolution of the AIG and Lehman situations, I suspect that C, MS and even GS will be facing some very difficult marks. If I were advising MS or GS, I'd suggest seeking shelter asap. (I have no idea who advises such organizations, I suspect they are rather like surgeons busily prepping themselves for their own apendectomies--operations which, when done by third parties are relatively safe, but when done on oneself present a professional challenge of the highest order. Citi as a source of strength is pretty far fetched–for Wamu of for Morgan Stanley (though a Wachovia/Morgan Stanley combination also beggars the imagination).

As the price discovery process accelerates courtesy of the resolution of the AIG and Lehman situations, I suspect that C, MS and even GS will be facing some very difficult marks. If I were advising MS or GS, I’d suggest seeking shelter asap. (I have no idea who advises such organizations, I suspect they are rather like surgeons busily prepping themselves for their own apendectomies–operations which, when done by third parties are relatively safe, but when done on oneself present a professional challenge of the highest order.

]]> By: Steve http://www.nakedcapitalism.com/2008/09/tpg-makes-concession-to-facilitate-wamu.html#comment-15803 Steve Thu, 18 Sep 2008 01:09:00 +0000 http://www.nakedcapitalism.com/2008/09/tpg-makes-concession-to-facilitate-wamu-raising-capital/#comment-15803 TPG's downside protection clause was very likely subject to continuing regulatory approval. TPG’s downside protection clause was very likely subject to continuing regulatory approval.

]]> By: Anonymous http://www.nakedcapitalism.com/2008/09/tpg-makes-concession-to-facilitate-wamu.html#comment-15796 Anonymous Thu, 18 Sep 2008 00:44:00 +0000 http://www.nakedcapitalism.com/2008/09/tpg-makes-concession-to-facilitate-wamu-raising-capital/#comment-15796 Too late, you greedy TPG bastards! Your overreaching f-ed you this time. There was plenty of opportunity to raise capital before, but WM had no chance to do so because of your insanity. Rot in bankruptcy. Too late, you greedy TPG bastards! Your overreaching f-ed you this time. There was plenty of opportunity to raise capital before, but WM had no chance to do so because of your insanity. Rot in bankruptcy.

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