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IAMike
Jul 10, 08 12:47
Post #26 of 44 (381 views)
Re: Stock Talk [last tri in 83]
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Look at it this way: Your 100 shares cost less than a tank of gas. :-)
el fuser
Jul 11, 08 2:21
Post #27 of 44 (354 views)
Re: Stock Talk [last tri in 83]
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Indymac Bank (IMB) formerly a high flyer in the mortgage field is now trading at about $0.70. This company was at $45 in late 2006. Big cash problems now, a run on the bank cost them $100 mil., govt. bailout talk, and well, the mortgage market.
Worth a few risk dollars?
I'm feeling the same way about Washington Mutual. Lot's of the value fund managers have been buying.
Mito Chondria
Jul 11, 08 19:02
Post #28 of 44 (335 views)
Re: Stock Talk [el fuser]
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"I'm feeling the same way about Washington Mutual. Lot's of the value fund managers have been buying. "
I'd stay away from Wamu. I know how, at times, certain Wamu branches don't allow you to withraw more than a certain dollar amount. Going to more than one branch to withdraw $7k is not exactly a good sign. My friend got a call from a rep that alomst begged him to renew a CD...or otherwise to invest it with them in a mutual fund...or how about when international wires have wiring instructions for Wells Fargo for your Wamu acct? Or when you have Wamu write you a cashiers check, you go to Wells Fargo to deposit it and they tell you that you just deposited Wells Fargo money in your Wells acct???
I'd stay away from trying to make money with those financial stocks. Sure you could get lucky on shorts covering but I think there are better speculation alternatives out there.
Banking regulators close IndyMac
http://money.cnn.com/...panies/indymac_fdic/
A House of Cards
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The Corrupt Banking System
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US National Debt Clock
(This post was
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by Mito Chondria on Jul 11, 08 19:09)
Haim
Jul 11, 08 23:22
Post #29 of 44 (319 views)
Re: Stock Talk [last tri in 83]
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"In at $0.29. We'll see....."
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Some former IMB shareholder is thanking you for your donation right about now.
Haim
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"Sometimes you need to think INSIDE the box!" -- ME
last tri in 83
Jul 12, 08 10:16
Post #30 of 44 (298 views)
Re: Stock Talk [Haim]
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ha!
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Demagogue
Jul 12, 08 12:39
Post #31 of 44 (290 views)
Re: Stock Talk [last tri in 83]
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I hope you didn't buy too many at .29
http://www.bloomberg.com/...&refer=worldwide
last tri in 83
Jul 12, 08 15:11
Post #32 of 44 (281 views)
Re: Stock Talk [Demagogue]
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Not much, it was a high risk play. I think I bought 5,000 shares.
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el fuser
Jul 13, 08 3:06
Post #33 of 44 (265 views)
Re: Stock Talk [Mito Chondria]
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"I'm feeling the same way about Washington Mutual. Lot's of the value fund managers have been buying. "
I'd stay away from Wamu. I know how, at times, certain Wamu branches don't allow you to withraw more than a certain dollar amount. Going to more than one branch to withdraw $7k is not exactly a good sign. My friend got a call from a rep that alomst begged him to renew a CD...or otherwise to invest it with them in a mutual fund...or how about when international wires have wiring instructions for Wells Fargo for your Wamu acct? Or when you have Wamu write you a cashiers check, you go to Wells Fargo to deposit it and they tell you that you just deposited Wells Fargo money in your Wells acct???
I'd stay away from trying to make money with those financial stocks. Sure you could get lucky on shorts covering but I think there are better speculation alternatives out there.
Banking regulators close IndyMac
http://money.cnn.com/...panies/indymac_fdic/
good info, and a good example of why you should stick with stocks in industries that you're familiar with.
last tri in 83
Jul 14, 08 11:07
Post #34 of 44 (223 views)
Re: Stock Talk [el fuser]
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Hopefully Schumer will keep his big yapper shut in the future.
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HandHeartCrown
Jul 14, 08 14:49
Post #35 of 44 (203 views)
Re: Stock Talk [Raptor]
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Must be the building karma. IndyMac Bank occupies the same building that Countrywide used to occupy as their headquarters in Pasadena.
That's because IMB was started by CountryWide. At some point (in the late 90's, I believe), IMB split.
All I can say is thank goodness for the FDIC!
MattinSF
Jul 14, 08 15:10
Post #36 of 44 (198 views)
Re: Stock Talk [HandHeartCrown]
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I ain't that bright when it comes to the market,
not Tim kinda dumb
, just not an expert....but man I feel good getting rid of my Wamu position last fall at $38. I was sitting on 1000 shares of Wamu and pulled the cord just in time.
I'm getting back in for 1000 shares at $3.00.
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HOPE is a plan that worked. CHANGE is a plan that worked. BELIEVE is a plan that worked.
last tri in 83
Jul 14, 08 15:37
Post #37 of 44 (191 views)
Re: Stock Talk [MattinSF]
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HA!
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last tri in 83
Jul 14, 08 15:45
Post #38 of 44 (187 views)
Re: Stock Talk [MattinSF]
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IMB is still making loan in the reverse mortgage department (Financial Freedom) which is the #1 reverse mortgage servicer in the nation. Sooooo, hopefully the company will have value to someone. I heard Wells was sniffing around.
Tell Schumer to stay away from WaMu and you might have a chance.
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Conservative in exile.
Dead Horse
Jul 14, 08 16:51
Post #39 of 44 (175 views)
Re: Stock Talk [last tri in 83]
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Not getting any better yet. There's a bottom here somewhere, but we're half way to zero.
Images courtesy
http://www.etfdigest.com/davesDaily.php
One cannot enlighten the unconscious.
Stuff that rocks: <fawning links here>
last tri in 83
Jul 14, 08 16:57
Post #40 of 44 (172 views)
Re: Stock Talk [JHo]
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ay caramba!
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last tri in 83
Jul 14, 08 21:39
Post #41 of 44 (160 views)
Re: Stock Talk [last tri in 83]
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check out the IMB message board aka the Chucky Schumer fan club. LOL!
http://messages.finance.yahoo.com/...essagesview?bn=51399
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Conservative in exile.
last tri in 83
Sep 25, 08 15:46
Post #42 of 44 (67 views)
Re: Stock Talk [last tri in 83]
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hey hey hey! close at $0.23
http://www.investmentnews.com/......[/#003399][/font]
http://www.crainsnewyork.com/......[/#003399][/font]
Goldman Sachs may target the assets of failed banks such as IndyMac Bank as it transforms from the biggest investment bank on Wall Street into the fourth-largest bank holding company in the United States.
“We plan to build our banking business organically and by buying retail deposits and bank assets in the wholesale market, not through opening branches,” a Goldman Sachs spokesman said.
“For example, the FDIC is selling IndyMac assets and those might be the sort of thing we’d be interested in looking at.”
Fifteen banks with deposits of roughly $30 billion have failed since the beginning of 2007, according to data from the Federal Deposit Insurance Corp. With more than $19 billion in deposits, IndyMac was by far the largest.
The FDIC took control of the thrift after regulators shut it down in July.
With 117 more banks holding $78 billion in assets on the FDIC’s list of “problem institutions,” Goldman could have plenty of additional opportunities to snap up deposits in the months ahead.
When a bank nears failure, the FDIC typically approaches potential buyers who have told the agency they would be interested in buying the assets of troubled institutions, said spokesman David Barr.
Most of the coordination of the sale, including bidding by potential buyers, takes place before the bank goes under, typically on a Friday at the close of business. After state or federal regulators shutter the bank, it enters receivership and the FDIC transfers its assets to the buyer.
IndyMac is different because the FDIC acts as the thrift’s conservator, keeping it running while selling off its assets. Part of the mission of IndyMac Federal Bank, as the government-run company is known, is to “maximize the value of the institution for a future sale,” according to an FDIC statement.
One of the benefits of buying bank deposits from the FDIC—instead of merging with or acquiring an operational bank—is that the regulator sells “clean” assets, Mr. Barr said. When two banks merge, or when a bank buys another bank, it’s usually saddled with the target’s liabilities and debts, not to mention potentially toxic mortgage-related securities or other real estate investments that could be sitting on the balance sheet.
“It’s a fairly good deal for the assuming bank, because not only do they get an instant bank, with branches and employees and deposit customers, but it’s a clean bank,” Mr. Barr said. “The receivership is like a filtering process. All the troubles and headaches that caused the bank to fail are left behind with the FDIC in receivership, so the acquiring bank gets clean assets.”
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Conservative in exile.
Dead Horse
Sep 25, 08 16:03
Post #43 of 44 (54 views)
Re: Stock Talk [last tri in 83]
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Here's an update for thread readers:
If you're gonna play with fire, keep it in the fireplace. ;-)
One cannot enlighten the unconscious.
Stuff that rocks: <fawning links here>
last tri in 83
Sep 25, 08 17:24
Post #44 of 44 (39 views)
Re: Stock Talk [Dead Horse]
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I'm back even again in Indymac. Never thought I would see it.
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