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Watchin tha world go by
8,151 Posts
Discussion Starter #1 (Edited)
it seems that instead of letting it fail and pass to the FDIC for salvage they are going to guarantee the sale for a buyer. and looks like Wells Fargo, HSBC and Royal Bank of Canada and the Royal Bank of Scotland. is interested. why not when you can buy something and have someone else pay for it.
lets see its only 24B, so when looked at in terms of GDP as they are so fond of doing it is trivial. that always amazed me, they say the deficit is not significant because it is only a fraction of the GDP. but isnt that calculating their debt on someone elses income -- OURS--
when ya add this, mac/mae, emergency war funding bill, Ike relief efforts,
and the other end of the year spending which has not yet been added into budget (cause they havent passed one ) and you have a budget for next year of 548B plus Ike costs before ya start funding SS and all tha rest.
20% of a budget the size of last years is already spent. can ta say trillion + deficit

buckle up
US taxpayers could be on the hook for as much as $24 billion to rescue embattled Washington Mutual, the country's No. 1 savings and loan, a top banking analyst is warning.

The jaw-dropping tab would come in the form of federal mortgage loss guarantees needed to coax a buyer into purchasing WaMu, according to Landeburg Thalmann's **** Bove, whose view on the need for a federal backstop is shared by an official with the Office of Thrift Supervision, WaMu's regulator.

Bove, in an exclusive interview with The Post, said the crushing $32.5 billion in mortgage defaults he is estimating WaMu will face over the next five quarters will force the federal government to guarantee as much as $24 billion in losses on defaulted option-ARM and subprime mortgages and home-equity lines of credit, or HELOCs.
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