The FDIC just deballed Wamu and gave their deposits to David Blaine aka Jamie Dimon, over at JPMorgan Chase & Co. [[JPM]] .
Shocker.
In other news, house republican, all of a sudden, found religion and are hell bent on offering an ‘alternative plan.’ In other words, they have no fucking idea what they are doing. However, they are very much interested in posturing—in a very political type of way.
NOTE: Here is some footage of Jamie Dimon’s methods to acquire Wamu’s deposits.
[youtube:http://www.youtube.com/watch?v=2QO7VWyyE64&feature=related 450 300] If you enjoy the content at iBankCoin, please follow us on Twitter
What the fuck is this?
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=a5UhcbI4jecU
Nancy Pelosi was always an idiot but now she’s trying to clownfuck us.
Fly… A hypothetical. Say this gets all fucked up and political now that Mr. Hero came in and nothing happens. We wake up Monday morning, the bell rings, and they’re still bickering and no bill. What’s your play?
Sit tight on long commodities? Sell everything and horde guns and ammo?
If there ain’t any certainty on this bailout tomorrow before the close … collapse.
http://www.youtube.com/watch?v=aoMmbUmKN0E
That was funny, Fly.
http://www.youtube.com/watch?v=Dg4aPJ93b8o
– My PPT Newsletter didn’t come in this week’s mail.
– What is the link referral bonus?
– Here’s five Visa numbers. One of them should work.
– Can my church singles group share a PPT account?
– Does PPT Silver come bundled with Action Alerts Plus?
Somebody help get this Pelosi lady off of me! Arrggghh!
Pelosi is a mindless botox injected bitch. If this happens liquidity will dry up even more.
I personally will call it quits. Just more BS.
McCain is mindless botox injected bitch. So what?
That won’t go through. Don’t worry about it Trader… It’s a red herring issue. That’s not the hold up.
There already is a “transaction tax.” In what has become the unlikely event that I make money on a trade, HALF goes to taxes.
They are going to fuck around and crater this thing far deeper than anybody had expected, even if a plan is agreed on tomorrow. And an emergency rate cut tomorrow or Monday will only spook people and make it happen faster.
The difference is McCain didn’t propose it. Pelosi did.
I also read that those animals in DC want to use some of the “profits” from the buyback to ensure more mortgages for the “poor.” It goes round and round. I smell Acorn.
i love that a bunch of idiot politicians, with little to no idea about the underpinnings of the economy, or wall street, are fighting over this bailout. some of these clowns can’t even string 3 sentences together, yet they’re trying to propose new ideas to ‘solve the crisis’.
they don’t even know what the ‘crisis’ is.
i also love that they’re trying to leverage the 300 phone calls they each received from a bunch of equally ignorant senior citizens begging them not to do ‘the bailout’.
it’s good that our political system is a complete joke.
I’m getting really pissed off at these jerks of both parties wrecking this whole economy. Now “Wall Street” is supposed to pay in the Republican plan… WTF does that mean?
Poof !!!!!!!!! Your financial rally is toast!!!!
Jamie Dimon wins again !!!!!!!!!!!!!
Instead of bitching. Run for office yourself.
Yeah, see where that’ll get you.
Great vid … I got a pro magician staying with me tomorrow night. I’m gonna ask him how Blaine did that.
Take it in the fucking ass wallstreet.. Time to come to terms with your new life as a Blue Collar worker.
Hella Big Time!
Jaime Dimon is the new King of Wall Street.
All this BS happening on our TV screens about the bailout bill usually happens behind closed doors (in the old smoke filled rooms) and the public isn’t very aware of it. It’s out in the open because McCain charged into Washington trying to look like a white knight (imitating The Dimon?) and made the process even more chaotic and ugly than usual.
Keep your eye on the ball, these rumors, news conferences and angry senators/congresspersons are the equivalent of a vicious Wall Street rumor, you can get hurt taking it for truth and trading on it. Each group is just applying as much pressure as possible in public to get mileage from it. All politicians suck BTW.
Not one of the people up for reelection this year dares return home to campaign without making sure a deal gets done first. No way will they let the economy collapse or let the market crash right before an election. Ask yourself, when have you ever seen a politician not do absolutely anything necessary to get reelected?
Paulson sucks at political dealmaking in my opinion, asked for too much out of the gate and tried for a big move like he was doing a Wall Street deal. Now the politicians all just jockeying for position and picking at the carcass of his bill. But a deal will get made, I firmly believe it, and along the way all sides will declare victory for their party. This is exactly how the laws in our country get made.
F ’em all. Over and out.
no deal buy tomorrow b40 will give you a big drop and second chance in the event that you missed out on the 1000 pt rally last thurs-fri. it will be done before monday open.
Mindfreak
I fucking knew McCain would march into D.C. and foul this all up. Motherfuckingpissfuckshit!!!
Is it just me or are the repub’s sounding a lot like dem’s with this whole “wall street needs to pay for it” schtick?
I miss your songs and videos Q4 🙂
They were like the theme of the day.
Tax the traders!
Yo! What the fuck!? Get me out of this trash can you piece of shit!
Boca,
You make a lot of sense for a girl.
I don’t know if it’s uncertainty over whether a deal gets done or if investors are actually thinking it through and seeing little light at the end of what’s going to be a very long and spooky tunnel, but all of this political jockeying has taken any adrenaline out of the attempts at a rally.
I exited a large UYG position for a small gain this afternoon, but am still holding a couple of financials for a bounce. They are underwater without scuba gear unless something happens in Washington. These days trading feels more like gambling than it ever has before.
Cap’t Crunch could well be correct. Then again, it could be that I am predisposed to agree with him owing to fond memories of his sugary goodness in my youth.
Bahaha they bought that shitbox for 1.9B, LOL thats 50% more than Warren “I eat my secretary’s turds” Buffet made today on GS! LOL, what a fucking comedy show.
I bet Bush is pissed to no end that he invited McCain and Obama to his NonPartisan-Rainbows-Come-Out-of-My-Ass party.
to Ron Paul: oh yeah, feels like gambling for sure haha.
I keep asking myself how much retardness do I want to take in the market before I walk away for a couple of months?
gapping,
I am sending a kamikaze Net Jet straight to the basement apartment where you live with your cats right NOWWW.
” f ’em all. over and out. ”
Boca please, you’re making me blush and warm all over.
it is my sincere wish that wallstreet shows them the errors of their ways by collapsing a quick 5-10%. then the plan would have to be 1.5 trillion dollars.
Boca, you’re right. fuck them all with 20″ dildos up their asses and twats.
I guess we can tell when Mr. Johnny Walker gets a little too close to Mr. Internets, can’t we?
…or Chivas, for that matter…
wow, even I’m not that pissed off Chivas hahaha
don’t worry the market will show Washington some pain tomorrow if this foolishness doesn’t stop soon.
don’t the politicians realize I’m ready to get bullish and they’re not cooperating fast enough with my plan?
You know, I didn’t necessarily expect to find a pot of gold following that rainbow until I heard the party.
But when I got there…
That was DISGUSTING!
Boca,
lol. i just hate politicians with a passion.
A passion and a shot back, from the sounds of it.
Poof! Your bullshit rally is gone. I really didn’t think the senile old coot had it in him. If he can manage to stop this bailout, he might actually win the election. I don’t care how much money you asshats lose. The bailout is wrong.
Passion is a good word. I think the best way to describe the emotion one can feel towards congress is that of a burning, syphilitic passion.
Chivas, WTF happened to all of your bullishness? Shoot man, if you aren’t bullish, I’m gonna get worried!
Can I get a bailout or at least a mutha fuckin handout bitch! Jamie Dimon needs to fucking make Paulson look like Tina with Rick James chasing behind him.
Danny,
i like that.
Woody,
if this deal does not get done, i will not be bullish. having said that, i do believe with 99.9% certainty that this will get done, either with the dow here or 5% lower or 700 billion or 1.5 trillion.
it just always frustrates the shit out of me the politics of the process.
WTF is happening?? China is now allowing short selling? The USA isn’t? Which one is the communist country again?
We will get that transaction tax on securities. It will be for the good of all you greedy Wall Street freaks.
The tax will be distributed to The Gay and Lesbian Alliance, Operation Push, Acorn, Rainbow Coalition, and San Francisco illegals. Oops, I mean the undocumented.
Gotta go. It’s time for my botox injections.
Aristotle,
Thanks for your post on the previous thread. Good luck to you and all IBCers tomorrow. Now…
Off to school certain leading House Republicans on the mortgage-backed turntable.
The scratch battle is on, bitches!!
garble garble blah penis blah.
I w-w-would like to thank “The Fly” for those pictures he sent me. Mmmm.
“How did you go bankrupt?”
“Two ways, gradually and then suddenly.”
Rate cut coming soon.
Fuck all third-tier bloggers! AND Nancy Pelosi!
-DT
The dollar is due for a bitch slap.
We need to be more like Sweden….
http://www.nytimes.com/2008/09/23/business/worldbusiness/23krona.html?_r=1&em&oref=slogin
Akebono – i’m gonna make another run at Yokazuna.
http://www.reuters.com/article/marketsNews/idUSPEK16693720080925
Konishiki — not a chance! Just keep enjoying your babe wife — or has she left yet? How’s that singing career coming?
Konishiki – stick to the car commercials, fatass.
Hey Chad, remember me?
Akebono, Dude – that’s rough…so what if i can’t wipe my own ass? She said she loved me! I mean what is love if not wiping your man’s ass after a dirtying up the pool a little?
That link above=
China banks told to halt lending to US banks-SCMP
It’s on!!
Why was CVS added to the non short list????
http://www.ft.com/cms/s/0/bb6ff882-8a68-11dd-a76a-0000779fd18c.html?nclick_check=1
Konishiki — you tarnished the great foreign dominance of the 1990s; after you kept embarassing yourself, Musashimaru had to regain some of the honor. I can barely call you a fellow Hawaiian! But, heck, I should talk — I went out after retirement and joined the world wrestingly tour and got my a$$ handed to me. I should have been smart and just joined a stable like Mu did; oh well, win some, you lose some!
Insiders knew of this news throughout the day just based on WM’s action. So, this news should be priced in.
Buy Buy Buy.
Prepare for ass fucking. The YM is getting its shit pushed in while the ES is getting its tonsils ripped out through its cock. I am pretty sure the dollar will be clown raped which should send money flowing into commodities like dicks into Barney Frank’s asshole. Interesting times we are experiencing, odd I have a friend that works at JPM, I call him a homo on a daily basis but this deserves a much more obscene name. More on this later, off to kick the shit out of some transient then pull a Jamie Dimon on his shopping cart.
gapping,
you should have your mouth washed out with soap, instead of Mr. Johnny Walker. Or Mr. Boston. Or whatever your male friend’s name is.
gapping:
instant classic post.
C’mon guys – don’t argue, we are the three American Sumo wrestlers who kicked ass in the dojo and showed the fooking Japs what Hawaiin power was all about. Now pass me a sandwich.
gappingandyapping should be a verb!
That is some beautiful prose my friend -good to see you back in form.
Need I say it?
___
Cubsrock,
FDIC takeover means WM stock goes to 0.
Buy buy buy? buy what? the symbol isnt even trading anymore
Heh, I didn’t mean buy WM. I meant the market is going to rally. So far I am wrong.