Comments on: Washington Mutual Seized By Government

By: Anonymous

Anonymous — Fri, 26 Sep 2008 16:47:43 +0000

when does it all end and do we expect some good news soon?

By: jennifer

jennifer — Fri, 26 Sep 2008 15:50:58 +0000

WaMu, as others, overvalued properties just to write loans such as Home Equity Lines of Credit. Now these homeowners who were told their property was worth x dollars are troubled with properties they cannot sell due to this overvaluing. What happens to these people and their loans?

There is no doubt banks were greedy and wrote loans.

There are honest people out there who can pay their loans back, but who were duped into a false value of their property. Now – they are screwed!

By: Kurm Udgeon

Kurm Udgeon — Fri, 26 Sep 2008 15:45:08 +0000

The real tragedy of this story is that both shareholders and bondholders are likely to be wiped out in this mess, according to todays Wall Street Journal(front page, lead story, paragraph three). For stockholders this is nothing new, but it is unprecedented for bondholders. This should send chills up everyones spines.
Washington continues to play politics, while Rome burns. There seems to be no confidence in the leadership ability of anyone in Washington, and yet, politics as usual continues to dominate the landscape. When will we, the taxpayers and seeming peons, who get taken along for the ride, begin to assert our self interests into the machinations of this greedy, self interested political system. At all levels of govt., the me, me philosophy of I want more, and my side is right while the other guys are morons continues to fester like three day old fish.
While we watch our 401K’s dwindle, our credit dry up, our house prices fall, our health care costs spiral out of control, and the price of everything go up, I am reminded that there have been times in history, that the citizens of many countries got fed up, and threw the bums out. It’s time for us to wake up, America, and assert our collective opinions to those whom you have given the public trust, and try to change this out of control quagmire for the better. I say this with no political agenda in mind, as I find myself unable to affiliate with either political party on any level.

By: Publius

Publius — Fri, 26 Sep 2008 14:25:14 +0000

Number 1

HSBC stands for Hong Kong Shanghai Bank Corp. While they are big in China, they are actually British. They were founded by the Brits in Hong Kong.

By: Madame X

Madame X — Fri, 26 Sep 2008 11:39:34 +0000

Did anyone out there know that HSBC stands for Hong Kong Savings Bank? I had NO IDEA until I went to my bank the other day and we were all talking about bank issues. I said that China was going to “own” us someday and the teller said that HSBC is Hong Kong Savings Bank. Hmmmmm…..just some info for everyone to digest for the day.