Modern Bank Runs
It always amazes how calm and self assured news journalist are when commentating about the collapse of the 2nd largest Bank in US history. And the sheer fact that many will lose a considerable portion of their life savings. The economics correspondent makes reference to the Massive losses (on the stock market) by Washington Mutual and National City bank. Washington Mutual alone lost 34.8 (Monday July 14208) So one has to ask , what’s next? considering the massive losses by Washington Mutual, I will refer to an Article by Jonathan Stempel (REUTERS) SEPTEMBER10,2007 quoting WASHINGTON MUTUAL INC. “Washington Mutual Inc said on Monday that most US housing markets are weakening, creating a “near perfect storm” that may force the largest US savings and loan to set aside more money for bad loans”. Well that has obviously happened, which is why there was such a run on INDYMAC because of their staggering default rates on the loans packaged by the company. SO is WASHINGTON MUTUAL next? David Goldman from CNNMONEY writes “WaMu responded after the market close with a statement, saying it is sufficiently capitalized, with more than $40 billion in excess liquidity after it recently raised $7.2 billion in capital. That statement is nearly identical to the statement made by INDYMAC before their collapse. I closed my account with WASHINGTON MUTUAL over a year ago, so none of this surprises me. Regarding INDYMAC, I was becoming so frustrated by the outright Blackout with video and photo …
Tags: bank, blackout, Cnnmoney, Collapse, Correspondent, David Goldman, Default Rates, Excess Liquidity, Indymac, Jonathan Stempel, Journalist, Massive Losses, Modern, National City Bank, Perfect Storm, Reuters, Runs, Savings And Loan, Sheer Fact, stock market, Wamu, Washington Mutual, Washington Mutual Inc
25 Comments at "Modern Bank Runs"
the worst safety issue American face is the fake “us dollar” isnt even a United States Dollar at all….its a weak british “federal reserve note” owned by the rothschilds of england. dont believe me? pull your dollar out and look at tit . up at the top. FEDERAL RESERVE NOTE. IT IS NOT A UNITED STATES DOLLAR. federal reserve bank is a private corporation owned by the rothschilds of england(bankers, est worth 500 TRILLION, Owners of the federal reseve bank of the USA) WAKE THE FUCK UP AMERICA
Mortgages are worth nothing because the dollar is worth nothing backed by no commodity.
@TheCashistrash my late father who lived through the great depression (he died 10 years ago at 83 years old) alway spread out his savings out in different banks (under the $100,000 deposits)……he lived through the first depression and learned a good lesson
FDIC is just as good as the Government? Who is that white old fool kidding…
@simonbayes1 owners cant there two differnt legal persons.
and the owners dont have the money to pay or else they would have
And right after this WAMU went under. Ya the fed will back your money. Just let them warm up the printing press. Wakup people.
poor man who lost over 60 thousand dollars. that is about a quarter of his life savings and all due to greedy bankers. that man is old and is going to be difficult to recover.
poor man who lost over 60,000 dollars. he lost about a quarter of his life savings. An old man who got taken by the banksters i wonder how many years of his life it took to save 60 thousand dollars at least 6 years of hard work and sacrifice.
i had an Indymac bank across the street from my house. People were waiting in line at 7 am when i went to school.
brian williams is a douche bag
you are right Voidka….gold & silver won’t do jack if the economy colapses but it is good to have “some” in your “survival kit” because when the economy “finally” comes back…..you will have some good hard currency on hand.
BANK FAILURES: my late father who lived through the Great Depression NEVER kept more than 50,000 in any bank and never put a cent in the stock market. I used to think he was just old fashioned or way to fearful……well dad….if you can hear me….YOU WERE RIGHT !!!!!!!!!!!!
unless you leave the country
The owners should be forced to hand over their assets, or be forced to, i would personally, go aroung to the house of an owner and take his ferrari or something of value, Bastards.
End the Fed!
Landed
The term you are looking for is Fiat Currency not phony money.
The FDIC is solvent it can go to the Fed for a bailout like AIG and Freddie and Fannie so they are solvent.
Pay no attn to inflation or the man behind the curtain LOL Got to love that movie The Wizard of OZ
Thank your jewish masters you dumb americans!
The mortgage crisis isn’t a delusion, which it was engineered specifically to screw up the U.S. economy for a specific time period. The SPP is going into full effect in 2010.
Seeds and “How To Do It Yourself” books. Gold and silver won’t do jack if the whole economy collapses.
As good as the US government hahaha. Yeah I know they could always print more money, but what happens to inflation?
So, other than gold and silver, is there any other SAFE place to put your life savings?
IOUSA opens tomorrow in theaters.I urge everyone to go see it.Rotten Tomatoes (Movie critic site) gave it a 100% rating.
History is in the process of repeating itself…the panic is caused by media, a deception fabricated by the ‘The World Bankers’, and the result is exactly what we see happening…I guess we’ll never learn!
Reference: ‘The Panic Of 1907′