Thu 2009-11-19 10:09 EST

The downfall of Washington Mutual - Puget Sound Business Journal (Seattle)

Kirsten Grind

WaMu suffered through not one but two bank runs in its final months. The first run was many times larger than the run that felled California lender IndyMac in July 2008, though neither shareholders nor the public knew about it. WaMu survived that run, and the second run was tapering off when regulators moved in and shut the bank, citing the run as the reason. In addition, WaMu's top executives, led by CEO Alan Fishman, were trying to sell the bank after federal regulators imposed a deadline, only to discover that they were being undermined by those same regulators, executives say. The government's plan to seize the bank, if it became known beforehand, would cause potential buyers to immediately cool their heels, because buying after a government takeover would be a lot cheaper than even the desperate private purchase deal that Fishman was seeking.

downfall; Puget Sound Business Journal; Seattle; Washington Mutual.

Tue 2009-04-21 00:00 EDT

Mish's Global Economic Trend Analysis: Geithner's Plan Can Succeed

...in avoiding a hit to bondholders at seemingly any taxpayer cost

Geithner's plan; Mish's Global Economic Trend Analysis; succeed.

Tue 2009-04-21 00:00 EDT

Mish's Global Economic Trend Analysis: Geithner's Plan, a Gigantic Confidence Game

Geithner's plan; Gigantic Confidence Game; Mish's Global Economic Trend Analysis.

Tue 2008-04-01 00:00 EDT

SPIEGEL ONLINE - Druckversion - US Financial Crisis: Why the Paulson Plan is DOA - International

SPIEGEL ONLINE - Druckversion - US Financial Crisis: Why the Paulson Plan is DOA, by BusinessWeek chief economist Mike Mandel - International; "Paulson's plan only works in a fictional world where investment banks properly regulate themselves"

DOA; Druckversion; Financial Crisis; International; Paulson plans; Spiegel Online.

Tue 2007-12-04 00:00 EST

Mish's Global Economic Trend Analysis: Paulson's Plan Is Nothing But Lip Service

anonymous industry insider: "how are rate cuts going to help anything when what the system needs is "more balance sheet," and there's none to be found, and in fact credit continues to contract?"; plan will because underwater buyers should and will walk away

lip services; Mish's Global Economic Trend Analysis; Paulson's Plan.

Wed 2007-10-24 00:00 EDT

Cutting The Bull > Hank needs a hug

Cutting The Bull > Hank needs a hug; Fed signs off on Hank Paulson's plan to save commercial paper

Bulls; cutting; Hank Need; Hug.