1. This Board Rocks has been moved to a new domain: CarolinaPanthersForum.com

    All member accounts remain the same.

    Most of the content is here, as well. Except that the Preps Forum has been split off to its own board at: http://www.prepsforum.com

    Welcome to the new Carolina Panthers Forum!

    Dismiss Notice

Bailout

Discussion in 'Money & Finance Forum' started by chipshotx, Sep 26, 2008.

Page 5 of 7
  1. Sep 29, 2008 at 2:33 PM #41
    VA49er

    VA49er Full Access Member

    Posts:
    22,561
    Likes Received:
    4
    Joined:
    Jun 14, 2003
    No matter what you read Wachovia did fail. If the govt has to get involved there was a failure. Easy as that.
     
  2. Sep 29, 2008 at 2:38 PM #42
    Science

    Science Puerto Rican of the Sea

    Age:
    54
    Posts:
    3,802
    Likes Received:
    0
    Joined:
    Jan 21, 2003
    Location:
    Charlotte, NC
    From Metropolitan:

    Charlie Black: Well, for me, ceasing to exist is failure. I mean, that's pretty definitive.
    Tom Townsend: Well, everyone ceases to exist. Doesn't mean everyone's a failure.
     
  3. Sep 29, 2008 at 3:29 PM #43
    token

    token I'm a lady

    Age:
    49
    Posts:
    7,473
    Likes Received:
    1
    Joined:
    Jun 26, 2007
    Location:
    North Carolina
    You love to argue semantics. :beatdeadhorse5:
     
  4. Sep 29, 2008 at 3:45 PM #44
    VA49er

    VA49er Full Access Member

    Posts:
    22,561
    Likes Received:
    4
    Joined:
    Jun 14, 2003
    No arguing here. Do you really think Citi would have touched WB if the govt hadn't intervened?
     
  5. Sep 29, 2008 at 4:17 PM #45
    IAMKING

    IAMKING Full Access Member

    Posts:
    268
    Likes Received:
    0
    Joined:
    Jul 25, 2008
    Seems like they sank the shit with their acquisition of Golden West Financial in 2006. :detonate:
     
  6. Sep 29, 2008 at 4:30 PM #46
    VA49er

    VA49er Full Access Member

    Posts:
    22,561
    Likes Received:
    4
    Joined:
    Jun 14, 2003
    IMHO Golden West is the MAIN reason for WB's failure. To many bad loans for which WB could no longer reserve.
     
  7. Sep 29, 2008 at 4:47 PM #47
    token

    token I'm a lady

    Age:
    49
    Posts:
    7,473
    Likes Received:
    1
    Joined:
    Jun 26, 2007
    Location:
    North Carolina
    Is it possible for the shareholders to sue Thompson? I mean, it was his decision that killed this bank today.
     
  8. Sep 29, 2008 at 4:47 PM #48
    token

    token I'm a lady

    Age:
    49
    Posts:
    7,473
    Likes Received:
    1
    Joined:
    Jun 26, 2007
    Location:
    North Carolina
    Absolutely not.
     
  9. Sep 29, 2008 at 4:48 PM #49
    VA49er

    VA49er Full Access Member

    Posts:
    22,561
    Likes Received:
    4
    Joined:
    Jun 14, 2003
    Hence, failure.
     
  10. Sep 29, 2008 at 7:11 PM #50
    wolfpac

    wolfpac Full Access Member

    Posts:
    1,014
    Likes Received:
    0
    Joined:
    May 27, 2003
    That's why I specifically mentioned the FDIC getting involved. If I remember correctly (and heck, I may not), it was the Federal Reserve & Treasury involved in previous merger deals involving private companies (like Bear Stearns for example). This one was specifically brokered by the FDIC. Hint Hint: There must have been a run on them at some level. Only reason for the FDIC to get involved like this. I'm not letting on to all I know but I didn't make my comment out of jest, the FDIC HAD to get involved in this one.
     
Page 5 of 7

Share This Page