Comments on: $700 Billion Bail Out Hammered Out… WaMu Execs Make Out Like Bandits? http://dallasdirt.dmagazine.com/2008/09/28/700-billion-bail-out-passes-congress-wamu-execs-make-out-like-bandits/ DallasDirt is a real estate blog with a focus on housing trends, realtor news, and photos of local fabulous homes from the editors of D Magazine Sat, 21 Nov 2009 05:22:37 -0600 http://wordpress.org/?v=2.8.4 hourly 1 By: Grumpy http://dallasdirt.dmagazine.com/2008/09/28/700-billion-bail-out-passes-congress-wamu-execs-make-out-like-bandits/comment-page-1/#comment-2733 Grumpy Mon, 29 Sep 2008 19:09:49 +0000 http://dallasdirt.dmagazine.com/?p=1195#comment-2733 Greg: Not to put too fine a point on it, but WaMu did not fail. It was seized by OTS and brokered for consideration (though minimal) to JPM so that a failure wouldn't land on the tax payers hands again. Greg:

Not to put too fine a point on it, but WaMu did not fail. It was seized by OTS and brokered for consideration (though minimal) to JPM so that a failure wouldn’t land on the tax payers hands again.

]]> By: Candy Evans http://dallasdirt.dmagazine.com/2008/09/28/700-billion-bail-out-passes-congress-wamu-execs-make-out-like-bandits/comment-page-1/#comment-2718 Candy Evans Mon, 29 Sep 2008 03:54:14 +0000 http://dallasdirt.dmagazine.com/?p=1195#comment-2718 Good point. And the last time I signed a mortgage, which rivals a tax return in thickness and complexity, there was a paper we signed that said in effect, "we understand what we are getting into." But here's my beef: all this would have been a replay of the 1980s when, by the way, many saw actual jail time. We'd have record foreclosures, create another RTC, go on. Who's bright idea was it to shift this to Wall Street in those complicated swap deals? That's what brought down the credit markets, I think. Good point. And the last time I signed a mortgage, which rivals a tax return in thickness and complexity, there was a paper we signed that said in effect, “we understand what we are getting into.” But here’s my beef: all this would have been a replay of the 1980s when, by the way, many saw actual jail time. We’d have record foreclosures, create another RTC, go on. Who’s bright idea was it to shift this to Wall Street in those complicated swap deals? That’s what brought down the credit markets, I think.

]]> By: greg http://dallasdirt.dmagazine.com/2008/09/28/700-billion-bail-out-passes-congress-wamu-execs-make-out-like-bandits/comment-page-1/#comment-2713 greg Mon, 29 Sep 2008 03:14:31 +0000 http://dallasdirt.dmagazine.com/?p=1195#comment-2713 1) WaMu failed. It wasn't purchased by JPMorgan until after the failure, so I doubt that contract is still a good one or enforceable, but we'll see how that goes. 2) I get and I agree with the concept of the mortgage brokers sharing a lot of blame in the whole subprime mess. I would also add real estate agents as sharing a portion...they'll push a home on anyone to get that commission. But what about the folks who signed a paper either (a) not understanding the terms of what they're agreeing to pay, and/or (b) knowing that they couldn't afford to take out the mortgage in the first place. I'm a little sick of the careless homeowners not acknowledging their share of the blame. 1) WaMu failed. It wasn’t purchased by JPMorgan until after the failure, so I doubt that contract is still a good one or enforceable, but we’ll see how that goes.

2) I get and I agree with the concept of the mortgage brokers sharing a lot of blame in the whole subprime mess. I would also add real estate agents as sharing a portion…they’ll push a home on anyone to get that commission. But what about the folks who signed a paper either (a) not understanding the terms of what they’re agreeing to pay, and/or (b) knowing that they couldn’t afford to take out the mortgage in the first place. I’m a little sick of the careless homeowners not acknowledging their share of the blame.

]]> By: Tony So http://dallasdirt.dmagazine.com/2008/09/28/700-billion-bail-out-passes-congress-wamu-execs-make-out-like-bandits/comment-page-1/#comment-2712 Tony So Mon, 29 Sep 2008 01:59:57 +0000 http://dallasdirt.dmagazine.com/?p=1195#comment-2712 $700 billion to bail out who? CEO, CFO, COO,? If the companies broke or banruptcy, how do they have money to pay those leaving package? I got it. Bail-OutPlan? leaving-company plan. Whatever, the same benefit...... to who? Let's connect the dots...... TonySo@magnum2000.com $700 billion to bail out who?
CEO, CFO, COO,?

If the companies broke or banruptcy, how do they have money to pay those leaving package?

I got it. Bail-OutPlan? leaving-company plan. Whatever, the same benefit…… to who? Let’s connect the dots……

TonySo@magnum2000.com

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