another one bites the dust

What a joke. I was busy today and planned to go to a local credit union and open up a checking account and yank my money out of WAMU tomorrow. I even called WAMU this morning to check how long it might to get a cashier's check from WAMU for my balance.

Had a long talk this morning with a guy from the bank and he said my money was safe and he seemed not have a clue about WAMU being sold. Of course this news just broke tonight so he probably didn't know about it this morning. The guy said he was worried about his own job at WAMU since his wife was just layed off and they have an 8-month old baby. Little did either of us know that within a few hours WAMU would be taken over by the FDIC and JP Morgan would be the new buyers.

I'm going down to WAMU tomorrow and taking all my money out. Things are way too shaky and if the FDIC decides to shut WAMU's doors next week for some reason or the JP Morgan buy falls through it will be a real mess.

I'm out of there. Wish I had done it today instead of waiting until tomorrow. I never thought there would be a buyout and FDIC takeover today. I wonder if there will be other depositors like me lined up to bail out of WAMU. All last week I'd been following WAMU's troubles daily and didn't know they would fold this fast. I figured the bank wouldn't close their doors until after the bailout bill was voted on since potential buyers of WAMU all wanted the feds to help kick in on the buy money.

Anyone else in a shaky bank -- yank your money out NOW.
WAMU is supposed to be just one of many on the chopping block. WAMU was holding billions in bad paper subprime loans.

Hmmm, Spud was actually looking at both this story and the Ted Stevens story deciding which one to post as a thread.

Good eye, CChris.

Washington Mutual, the friend of the family.

With friends like that who needs enemies?

This shit just keeps getting scarier don't it?

Be Well.

And you were think of buying some of their stock!
After hours price is $.45

CHRIS

I suggested last week you yank your money out of there. I'd read too many financial reports about it's looming insolvency.

Regardless, reports are business will open tomorrow as usual with the FDIC in charge until JPMorgan gets it's ducks in a row.

Chris

Please don't lose sleep tonight. All branches will be open tomorrow, although they'll probably be very crowded.

Everyone at my branch has been putting on a brave face for the last few weeks, so I don't think it was much of a surprise to them.

I'm going to just wait a few days and see how it shakes out into next week, I've been through a couple of takeovers before and life pretty much went on as usual.

Remember though, it's your money. Don't let them tell you that you have to wait to get an official check.

REALPLU5

And you were think of buying some of their stock!

After hours price is $.45

Tell me about it! I checked into opening an e-trade account and had talked to them on the phone just a few days ago when WAMU was $3.33 a share. I thought if WAMU (which at the time had a number of buyers looking to take it over) ended up being bought by another bank you could make some money when WAMU shares were so cheap since the shares would probablly go up if they were bought up by another bank. WAMU's shares had been up around $40 a share only last year!

But then I was reading some finance blogs the last couple of days -- stuff I normally never do since I don't follow that stuff but had been lately when keeping my eye on WAMU. Well, I saw a couple of posts on one blog that said if the FDIC takes over the bank all stockholders get ZERO $$$ for their shares and that when INDY Bank was taken over the by the FDIC their stock went to ZERO!

So after reading that I thought to myself - whoaaaaaa. Maybe not such a good idea to try and buy any WAMU even at $3.33 a share and decided against it. I didn't want to gamble with WAMU not getting a buyer and then FDIC getting a hold of WAMU first -- and that's exactly what happened.

The FDIC took over WAMU tonight and then JP Morgan stepped in to say they might buy WAMU. I'm soooooooo glad I held back. I would have stock worth 45 cents today and by tomorrow it will be worth even less per share.

I'm going in now and call WAMU again and see what they have to say. Since the FDIC now owns it I want to be sure I can take my money out with no wait.

Did you know that a number of WAMU employees all bought WAMU stock last Friday hoping the bailout would push up the stock. They probably lost thousands of dollars. Glad I'm a rather cautious person and decided against even a small amount of stock in WAMU. Guess being overly cautious paid off this time.

WAMU is a huge bank out West and its main office is in Seattle. This bank FDIC takeover is going to lay off thousands of people. I think this is only the tip of the iceberg and we haven't even begun to see all the banks that are going to fold. It is very scary.

Agree with all you said, do you have a mortgage with them?

CHRIS

JPMorgan is buying WAMU's assets and plans to continue running it as a commercial bank.

CHRIS

JPMorgan is buying WAMU's assets and plans to continue running it as a commercial bank.

AA, seekingalfa.com is where I get my news

REAL

I'll check it out....

Thanks

RealPlus5 and AU

Agree with all you said, do you have a mortgage with them?

No, mortgage but have 3 separate checking accounts. My mortgage is with another finance institution which -- so far -- is not in any trouble and my mortgage was a good one -- solid, fixed rate, no problemo.

WAMU was one of the biggest owners of subprime loans and was carrying billions in bad paper and when the subprime swindle went bust they were drowning in debt.

JPMorgan is buying WAMU's assets and plans to continue running it as a commercial bank.

I just got off the phone with WAMU a few minutes ago. Some gal in the Philipines answered their after-hour call center. This news only got to them one hour ago!

She said she's been getting all kinds of calls about it. I asked her WHO owned the bank -- was the JP Morgan deal confirmed because the news said it was taken over by the FDIC. She didn't know for sure -- and this was funny -- but right then on CNN (while I was on the phone with the bank) came the news that "the FDIC said all WAMU depositors will have a seamless transition over to JP Morgan with no interruption to their banking." Whew!

They said tonight on the news that the FDIC takeover of WAMU is the biggest bank failure in history.

Thank God JP Morgan was there to buy them up. If WAMU had merely been taken over by the FDIC with no buyer you could wait weeks to get your money back.

What do you guys think? Should I close my checking accounts at WAMU anyway (such a pain in the butt to do) or just it ride and stay with WAMU (now JP Morgan)? I honestly don't know who to believe. I do not trust what is happening anymore. Just this morning WAMU told me on the phone everything was fine so you can see where it makes you wonder who's telling the truth about anything.

I think more banks are going to fail and not all of them will find a buyer like WAMU did.
WAMU had to look for weeks and put itself up for auction before a buyer finally came in. No one wants to buy a bank riddled with sleezy subprime loans.

If I can trust the FDIC I'd rather just leave my money where it is but it sure is nervewracking.

CC, It's a done deal, JP has already made a $1.9 Billion dollar transfer.
Welcome to Chase Bank, may I help you !!

AU

Just read a few of the the posts at the end of the article you linked. A number of them said they think JP Morgan sucks to do your banking with. Great. I think I'll pull my money out and go over to the credit union here in town. Free checking, the whole bit. I don't want to deal with JP Morgan Chase if they are a pain in the butt and charge more for checking. WAMU was a great bank to do your banking with -- while they lasted anyway. lol

At least now, though, I won't be rushed into having to get my money out and move to a new bank tomorrow since, so far, it now looks like a safe transition between banks.

There are going to be thousands of WAMU employees out of work once JP Morgan takes over. They will probably shut down a few of the branches and then merge the employees and then start layoffs.

"...The times they are a changing..."

Good night, all. I've had enough news for tonight.

CC, Go to Schwab website and look at their
checking account and interest paid

CC, It's a done deal, JP has already made a $1.9 Billion dollar transfer.

Welcome to Chase Bank, may I help you !!

Yeah, gimme my money!!!!!!

LOL! Tbanks, Realplus5, I needed a laugh to end my night.

I guess all is going to be okay.

Later !!!!!!!!!!!!!!!!

CHRIS

They had a lot of consolidation among banks here.

If I didn't like new policies I'd close out my account and move on.

For instance, one locally owned bank (I prefer them) that I had several accounts with sold to a larger out of state chain. Suddenly, deposits cut off at 1 pm to be credited that night instead of until closing time. I said to myself, "what a scam to earn another day's interest", so my wife and I went down and closed out all our accounts once we had our ducks in a row down the street at a bank with a better customer service and policies.

I have very little regard for banks. I keep my private (as opposed to business) checking account at the credit union for government employees. I thought I'd have to be one, but it turns out they took me. That was news to me you didn't have to necessarily be a teacher to join a teacher's credit union, or the above example.

Hope CC never got around to buying any.

Poor WaMu Paulson couldn't force Congress hand fast enough for them. Looks like JP Morgan got themselves a nice deal, 300 billion in assets for 1.9 billion. Even wrting down 30 billion in WaMu assets still make this look like the deal of the century.

Question:

JPM is buying up all these loser companies and banks so does that mean that in the short or long term future they will be "too big to fail?"

In an effort to make things better, the Feds might me sowing the seeds of the next crisis. I don't want to bail out JPM in 20 years. After all this nonesense is over, I would hope they get broken up again, no more AIGs!

all bullshit aside

all politics aside

all blame aside

what the fuck is happening to our economy? is this the beginning of the end? or serious, serious bad times?

I am an educated person but I cant get a feel for this. I hear lots of rancor and blame (natural enough), but are we seeing the unravelling?

this is some scary shit.

"this is some scary shit."

Pundits and politicians can yammer on and on and on about whose fault this is and who's preventing us from stopping our economy from going down the drain and all that, but the above quote is pretty much the only thing that's 100% true.

Your money is safe if you only have a WAMU checking account. I might pull my money anyways just because I refuse to bank with Chase. They are the first company in Chicago that upped ATM fees to $3, then everyone else followed suit.

Question:

Is JPM becoming too big to fail now? After all this is over, I hope they break it up. If it's too big to fail, it's too big to be in business.

I'd like to know where the WaMu CEO is. Does every WaMu stock and bondholder that just got wiped out realize they were ripped off by a guy who's probably on his way to the Cayman's right now?

The guy said he was worried about his own job at WAMU since his wife was just layed off and they have an 8-month old baby.

And when that guy gets laid off and defaults on his mortgage, I'm sure some Republican will whine about how he's being irresponsible and hurting investors by having a mortgage he can't afford.

This entire crisis is about jobs, or the lack thereof.

DAMN Bill Clinton to Hell for all of this !!!

Right Republicans ?...Way to much regulation !!

Like Dick Cheney says... "Deficits don't matter...Ronald Reagan proved that."

Anyone who has/had a interest only loan and is in trouble deserves what they get. They knew what they were geting into.

This entire crisis is about jobs, or the lack thereof.

#24 | Posted by Norm

Statements like that are only relevant in a narrow view of where you live. In ohio and michigan and pennsylvania it's true. In the south it's not true.

"Anyone who has/had a interest only loan and is in trouble deserves what they get. They knew what they were geting into."

And the stock holders of the financial institution that gave them the loan deserve to lose their investment too. The CEO deserves to lose his/her golden parachute. The taxpayers do not deserve to have to pay for the greed of irresponsible bankers.

Anyone who has/had a interest only loan and is in trouble deserves what they get. They knew what they were geting into.

What about people with traditional mortages who's pay has not kept up with inflation? If you had told me 3 years ago that I would be struggling to make a 600 dollar mortage when that was less than the rent I was paying for 9 years before that? Go figgure double gas prices 30% increase in food prices over 2 years and suddenly things that were easy to afford are too expensive.

Meanwhile a minority of republicans, including McCain, want to play politics with our nation's financial security, the financial security of individual taxpayers, and our national security on a global perspective. In a world of global capitalism the sword is not mightier than the checkbook. If republicans let our markets fail our national security will be greatly diminished.

Tax,

Not sure but that might be a good thing. double gas and 30% food increase did not happen because of rampant fiscal conservatisim. I am glad to see a few republicans actualy acting on what they claim to belive.

We now know Paulson was writing his bailout proposal at the same time he was telling the public the economy is in good shape and Nader was warning otherwise.

This begs the question why now, they could have covered it up until after the election. These revelations have dismantled McSame's Campaign.

Could it be that these greedfuckers want the Democrats to take over and face the heat, when things get even worse?

Greg Pallast doesn't think so. He has 500 of Karl Rove's e-mails because one of his associates owns the domain name georgebush.org, received them and passed them on. In these e-mails are detailed plans Stae by State for caging (disqualifying) poor voters. Those that aren't eliminated are forced to wait up to 10 hours to vote on election day by misdirecting the distribution of voting equipment. All it takes is a Republican Secretary of State.

Taxman, Right is Right, et al,

My mortgage is with WaMu. How will this affect me? Will it be like the mortgages I had in CA, when it seemed like they were being sold every other month? Just make the check out to JP now?

The collapse is karma for all of their gay commercials...

Heard this morning that the only ones who are safe in WAMU now are those with
checking/savings accounts. All others -- good luck.

If your 401k had part of their portfolio investment in WAMU (which you may not even have known they did) look for a drop on your 401k balance sheet. WAMU is stock is ZERO.
WAMU stockholders have been wiped out.

Taxman, Right is Right, et al,

My mortgage is with WaMu. How will this affect me? Will it be like the mortgages I had in CA, when it seemed like they were being sold every other month? Just make the check out to JP now?

#36 | Posted by evashogouki
* * * *

You'll get a letter in the next couple of weeks, saying that your bank has been seized by regulators with the FDIC. In that letter, you will be "strongly encouraged" to refinance your mortgage with another lender, but nothing happens if you don't. The FDIC will sell off your mortgage to another servicer.

It is IMPERATIVE that you not be late on any payments during this period. In doing so, the buyer of your mortgage can demand "acceleration"--that is, claim that your mortgage is in default, and move to foreclose on the entire amount. It's important to remember that your new mortgage holder doesn't have the same considerations as WAMU did. WAMU didn't want to foreclose, because of all the other properties that are in foreclosure. But to the new holder who's bought your mortgage for maybe 30 cents on the dollar, he'll make a LOT of money when you are either foreclosed on, or refinance. Don't give them a reason.

By the way--JP Morgan didn't want the mortgages, just the deposits and the branches.

and it's all joy and happiness here in the North West! YAY! Our bank collapsed.
There have been some small runs, mostly older people(70's).

ATM was still working this morning and the bank is open for business.

"the new holder who's bought your mortgage for maybe 30 cents on the dollar"

How do I buy MY mortgage for 30 cents on the dollar?

And if the government is willing to sell them for that price, why not to me?

-How do I buy MY mortgage for 30 cents on the dollar?

Unless it is your second or 5th or 15th home, you cannot negotiate the mortgage in Chapter 13.

And Repubes will die fighting for the right of multi-home owners to do so while single home owners cannot.

The fix for this is in Obama and other Dem plans.

"How do I buy MY mortgage for 30 cents on the dollar?"
-Danforth

Damn!
I don't even have a mortgage.

Oh wait ...

"How do I buy MY mortgage for 30 cents on the dollar?"

I was only half-joking.

If the government is willing to sell mortgages for that percentage, why not mine to me?

How do I buy MY mortgage for 30 cents on the dollar?

And if the government is willing to sell them for that price, why not to me?

#42 | Posted by Danforth
* * * *

I'm still trying to find that out, in my own case. My mortgage was from the First National Bank of Nevada/Reno, and I got the same letter that will soon be outbound to WaMu's mortgagees, two months ago.

Short answer: it's just not done that way. Unless you're a primary dealer, willing to buy up $10mm blocks at a time, you can't buy your own mortgage back. Still trying, though.

Woo Hoo Wa Mu is now

Boo Hoo Wa Mu

Anybody who thought that name change was a good idea needed their head examined, so no wonder.

And they probably spent $millions changing all the signs and checks and advertising....

"Short answer: it's just not done that way. "

I know, but if I'm going to be paying for the bailout anyway, shouldn't I get something in return?

"shouldn't I get something in return?"

Posted by Danforth

Don't even expect a reach-around.

Don't even expect a reach-around.

#49 | Posted by Zatoichi

Damn!
I don't even have a mortgage.

Oh wait ...

#44 | Posted by Zatoichi at 2008-09-26 11:58 AM

No mortgage? So no bank owns a piece of your house. Now it's just you and the government as owners. The government will own it long after you're gone.

"The government will own it long after you're gone."

Wrong again, as usual, bOoB.

Zatoichi

You don't think the government owns your land?

Wrong again as usual, bOoB.

Your payments to the government for permission to stay where you are, are never ending. Don't pay them--they take your land and sell it to someone who will pay them.

You are only a tenant.

RIGHTisRIGHT

I'm still trying to find that out, in my own case. My mortgage was from the First National Bank of Nevada/Reno, and I got the same letter that will soon be outbound to WaMu's mortgagees, two months ago.

Short answer: it's just not done that way. Unless you're a primary dealer, willing to buy up $10mm blocks at a time, you can't buy your own mortgage back. Still trying, though.

Good. PLEASE let me know anything you might find out about buying back your own loan on the cheap if it looks at all possible.

I guess the good loans and the sleezy subprimes are all bundled in together into mortgage securities.

Did you know I heard today that this $700 billion bailout will only to go to help the banks which were carrying the bundled mortgage securities. NONE of the bailout will go to any of the banks who had regular loans but might their borrowers in default. Those banks are going to be left to fend for themselves with no help from this bailout bill.

You then ask yourself, then why would banks that didn't mess with these subprime loans (now bundled into mortgage securities) even have to worry if they were loans made to borrowers with good credit and the ability to pay them off.

ANSWER -- Many of these borrowers are going to find themselves unemployed as this mess gets worse and worse and then there is a good chance those (now unemployed) borrowers will have to default on their loans and the banks will have to foreclose on them. But those banks won't get a dime in bailout money -- they will be left to collapse and be put into receivership with the FDIC.

Guess the more honest a financial institution you are, the more you are punished.

Twice today I heard predictions that another 112 - 150 banks are going to go down. Scary.

If the government is willing to sell mortgages for that percentage, why not mine to me?

That's exactly what I posted two days ago on another thread -- why can't I buy back my own mortgage from the Treasury since they're now the new owners. RiR saw my post and said it now made him wonder if it was at all possible too and he's going to check into it. My mortgage isn't a subprime though. Still, it was with Ditech.com and I don't know if they were one of the ones who took in a lot of subprime bad paper. Who knows, they've probably already bundled my mortgage along with thousands of other mortgages and sold them off to another institution as a mortgage security.

CHRIS

WaMu's new CEO, Alan Fishman, will make off with close to $20,000,000. For what?

He's been on the job for THREE weeks. That's right...3 weeks. And his take home pay will be $19 million

AU

The timing of your post was so funny!
I just walked into the kitchen to post the same thing on here. I just heard it on CNN.

WAMU's stockholders -- wiped out!

WAMU's bondholders -- wiped out!

Then WAMU CEO (brought in only 3 weeks ago to see if he could "save" the company) -- $18 MILLION golden parachute for 21 days of work.

Time for a revolution!

I'm taking your advice and going down to the credit union now and open two checking accounts. Then I will close my three checking accounts at WAMU next month. I'd love to just close them today but I have outstanding checks -- electric bill, etc. -- that need to clear before I can close it out.

There have been a couple reports on the local news about angry depositors spray painting
"YOU SUCK" on the sides of some local WAMU banks here.

I wonder who's next to go belly up?

What happens if you have a mortgage with a company that goes bankrupt? I have mine with Ditech.com and took a look the company which owns it and it's looking shaky. What happens to my mortgage if the FDIC takes them over? My loan was not a subprime loan -- it was a fixed and solid loan and is current and up to date.

AU

WAMU's CEO had that golden parachute and other perks written into his contract
before he went to work for WAMU only three weeks ago.

Plus his salary was $1 million.

CC

I hope they DO write some kind of limitations on CEO compensation for failed companies.

That is absolutely ridiculous.

Remember the Home Depot CEO who was forced out after they lost a lot of their value and employees worked for $8 an hour?

He walked away with $350,000,000

CC

Here's my Google results about your mortgage/company fails? question:

EVASHOGUGI

I found this excellent article and after reading it decided to link it here for you as you had asked what will happen to your WAMU mortgage.

Everyone who has a mortgage and wants to know how they work and what happens when your bank goes belly up, this is very informative.

AU

We're on the same wave link today!

I just posted my #61 (with link) after I had googled the same question as you asked google in the link you posted in your #60.

I notice a lot of people on the internet are asking the same question I had two days ago and which RiR read and now wants to know it too -- is there any way any of us can buy back our own mortgage from the US Treasury if our lender went bankrupt and the FDIC now has taken over.

Paying pennies on the dollar would sure be a nice deal to pay off your loan!

Got to get going to the credit union now and do the paperwork to open an new checking account. Later.

Thanks for the link, Chris!

Chris you have no hope of buying out your loan for less then face value, of that i am CERTAIN. If you want to retain your credit score there is no option for you. If you want to ruin your credit score, then try to negotiate, you still won't make out.

As for the run of deposits which you suggested earlier, don't be foolish. As long as your accounts are under FDIC limits you will be AOK. I have dealt with hundreds and hundreds of bank failures for jumbo CD investors, and can assure you depositors will be alright regardless of the bank's outcome, failed/closed/transferred etc...

And I'm sure you are aware now that the bank has been purchased from the FDIC and all assets of WaMu are now JP MOrgan/Chase's....

Bob,
What if you own the mineral rights? I own my home and the mineral rights. I thought that gave me ownership of the land as well?

Prolix247

You will never own your land. The government will always own your land. The government may take your land at any time and give it to some big developer. It may take your land for unpaid taxes.

You can't build on your land without permission. The government restricts your usage and much more.

I own my home and the mineral rights. I thought that gave me ownership of the land as well?...

It used to be your property until the eminent domain case of Kelo was decided by the Supreme Court. For the first time in history, emminent domain could be used by the government (city, state, whatever) to take your private property away from you to give it to a PRIVATE developer (or other private company) simply because that private company or developer would pay more property tax than you, or because the developer might bring in more business to the city than your family home would.

It always was eminent domain was used only for "the public good" -- meaning a city could take your home (and pay you whatever piddly amount they thought you home was worth and you'd have to accept it) if they wanted to build a school, a library, a railroad -- something which would be used by the all the public at large. NEVER until the Kelo case was a city, state, or government allowed to take your private property to give it to another private owner so the private owner could make a profit.

DAVE THE WAVE

I know I probably couldn't buy back my loan on the cheap.

But just out of interest -- check out this blog where they all discuss violations of the Truth in Lending law made by these sleezy lenders where people have used that as a way of getting out of their mortgages. It doesn't apply to my loan but the discussion is interesting. You have to scroll down a few posts to where they start discussing it.

Thanks Guys,
I understand that if I get behind on property taxes the state could foreclose and I don't think Kelo is in my future.

I do live half a block away from an elementary school but it will not be expanding any time soon (I went there 35 years ago and it is still the same). It is a solid middle class residential neighborhood in Santa Monica, CA.

One of the reasons I thought of mineral rights is when I was younger people in this neighborhood received subsidy checks from an oil company for allowing them to pump oil but only people with mineral rights received the subsidy.

I guess private property days are gone?

I guess private property days are gone?

#69 | Posted by Prolix247 at 2008-09-26 06:30 PM | Reply

There has never been such a thing as private property days. The government allows you to stay on your land if you pay their rent. They just call the rent property taxes. If you don't pay your property taxes, the same thing happens as if you didn't pay your rent--it just takes a little longer to kick you out. Rent is rent.

Chris you won't have to wait weeks and weeks, I am certain of that, like I have said i've dealt with hundreds of takeovers, they never freeze the big ones....

As for investors in 401K's, most don't hold individual stocks, just mutual funds. However the poor employees often Do have stock exposure and they have been ruined. IBM taught this lesson to investors in 1993...Enron schooled everybody in 2000's and fannie and freddie employees suffered even worse fate. Yet no one is talking about how Paulson SCREWED them royally. I think he's the worst Treasurer of ALL TIME....His malfeasance eclipses Koslowski, Ebbers, Lay, et all......

That run on depositors was just the icing on the cake, Chris. It's named as the reason, but the real problem was asset values and stock price hemmoraging. It's possible that if an problem loan rescue plan was done last week, they might still be standing (on very week legs)

BTW All the banks interested knew they could wait and get a better price from the fdic, then they could have from wamu's board...(and their stock and bond investors)....

"I think he's the worst Treasurer of ALL TIME..."

Is daveywavey gonna fall on his sword?

ps the FED is privately owned, dear one:>)

You have NEVER heard me support Paulson, and his fraud and malfeasance is unbridled. Did you note that he never lifted a finger to help until goldman Sachs was on the ropes?

And bani don't bother I won't get into a discussion with you and your ignorant whatreallyhappened looney links.....

And bani don't bother I won't get into a discussion with you and your ignorant whatreallyhappened looney links.....

#74 | Posted by DavetheWave

looney?

Money and Votes Aligned in Congress's Last Debate Over Bank Regulation
Tags: ECONOMY POLITICS/ELECTIONS/CORRUPTION
The last time Congress seriously debated how to regulate the financial industry, the result was legislation that allowed the nation's largest banks to get even larger and take risks that had been prohibited since the Great Depression. A look back at that debate, which was over the 1999 Financial Services Modernization Act, reveals that campaign contributions may have influenced the votes of politicians who, a decade later, are now grappling with the implosion of the giant banks they helped to foster.

CC, ResCap owns your paper and will probably blow up

Fifth Third Tomorrow? National City next... Bank of Mexico (Bank of America) soon!

Yes as loonie as a fruitcake. Your links to some of the most outrageously over the top BS conspiracy theories proves what little common sense you have....