comments  | posted under Downtown, Recession, Times ChangeComments
by NineInchNachos on 4/8/2010 @ 9:04am
by Crenshaw Sepulveda on 4/8/2010 @ 9:11am
|No wonder my bank is printing checks that don't have their name on them,|
by L.S.Erhardt on 4/8/2010 @ 10:39am
|Remember this kids... economic downturns like this really are made only for the transfer of wealth to fewer and fewer hands.
Perfect example: WaMu. 2006, worth $400,000,000,000. In 2008, sold for $1.9 billion.
That's a bargain that is unheard of. That is 0.475 cents on the dollar. That's right, a 99.525% discount. It pays to have friends in DC, I guess.
For an interesting read, take a look at this list and try tallying up the monetary value of assets that have traded hands at pennies on the dollar...
by Nick on 4/8/2010 @ 12:49pm
That's making the assumption that WaMu's 2006 valuation was correct. Many people have wondered where all this money went when the economy went sour, and the answer to that is much of it never existed in the first place.
by seejane on 4/8/2010 @ 7:27pm
|I didn't bank at WaMu, I didn't trust them - mostly because in some of their ads they called money "MuLa". I wasn't so surprised when they failed.|
by NineInchNachos on 4/8/2010 @ 7:38pm
|go with credit unions!|
by Jesse on 4/8/2010 @ 9:32pm
|I did bank at WAMU and with the change over to Chase, Chase sucks big-time. I'm with NIN, I really need to get off my lazy azz and move to a local credit union.|
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