TDI -- Reporter's Blog

Apr. 8, 2010 at 7:54am

Signs of the Times

Last month . . .

 

Yesterday . . .


Context here

comments [7]  |  posted under Downtown, Recession, Times Change

Comments

by NineInchNachos on 4/8/2010 @ 9:04am
presto change-o!

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
@Thorax

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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