Maybe! Lehman Brothers's trubs have largely upstaged the fact that WaMu, too, is in the toilet, but American Banker reports that JP Morgan is "in advanced discussions to buy" Washington Mutual, sans government, according to sources familiar with the matter. And yeah, it might fall through, but we registered that one, as well, bitches.
Update: CNBC's David Faber calls BS on the deal.
JPMorgan Chase in Advanced Talks to Buy Wamu [American Banker]
Posted by guest , Sep 12, 2008 1:16PM
what, no over-under on MorganStanleyLehman?
Posted by guest , Sep 12, 2008 1:17PM
overheard...
"Jamie, it's Hank. Here come's another one."
"...Hank, I'm here for you."
Posted by blndebnker , Sep 12, 2008 1:18PM
This is a horrendous idea.
Posted by guest , Sep 12, 2008 1:19PM
blnd, i'm guest. you're stalking me, aren't you? stalking "guest."
I'd better change my screenname.
Posted by guest , Sep 12, 2008 1:20PM
And Jamie D chuckles to himself, giving a silent FU to Sandy W and "see what happens when you make me promote your daughter, asshole?"
Posted by guest , Sep 12, 2008 1:20PM
Mel Epstein , 66!?
Posted by blndebnker , Sep 12, 2008 1:22PM
@4 (guest) - HA. You are a sharp tack, you.
Posted by guest , Sep 12, 2008 1:25PM
Apparently JPM mad a soft bid for WaMu before they bot BSC. The xceo of WM rebuffed JPM (this was when WM was trading close to $20 - $25).
It is an old story NO way JPM makes that bid now. They are having trouble digesting BSC. And the only reason they wanted WM was because of branches in California and some other state.
Do you not think they could get access to these branches for about $.20 on the dollar after WM gets taken over by the FDIC?
Posted by guest , Sep 12, 2008 1:27PM
thx guest.
(the other guest).
Posted by blndebnker , Sep 12, 2008 1:28PM
@8 - Exactly. Taking on anything else over the span of at least the next year would be ridiculous. There are still countless wrinkles (and I'm being kind here) to sort out with Bear.
Good point about the bank branches. Didn't even think about that.
Posted by guest , Sep 12, 2008 1:29PM
you know what?
elliot spitzer is probably on that island with george soros and obama bin laden - oops, I mean *osama* -- selling short everything from an account cleared some firm that has huge muslim backing.
Posted by guest , Sep 12, 2008 1:30PM
@blndbnr-- jpm bid on wamu mere weeks after they got bsc. they can and probably will do it now.
Posted by guest , Sep 12, 2008 1:31PM
@11- the osama joke is a. old b. not funny c. discredits everything you have to say, you ignorant douche.
Posted by Anal_yst , Sep 12, 2008 1:32PM
Submit #11 as most asinine comment of the day
Posted by guest , Sep 12, 2008 1:33PM
@ 13 gee I wonder who you're favorite idol is.
Posted by guest , Sep 12, 2008 1:34PM
@ 14 see 15.
Posted by Anal_yst , Sep 12, 2008 1:35PM
@ 15/16
Wtf are you talking about? Did you forget your tin-foil helmet today or something?
Posted by blndebnker , Sep 12, 2008 1:35PM
@12 - Ick. Such a clusterfuck.
Posted by guest , Sep 12, 2008 1:38PM
@15/11-- you are an ignorant moron. but that's ok, the fact that you don't get that this is a big, diverse world, and it's no longer americans/old white men making all the money is evidence you'll never rise above your low ranking station in life.
Posted by guest , Sep 12, 2008 1:42PM
Meeting adjourned, fool -- oops, I mean *tool*.
Posted by guest , Sep 12, 2008 1:43PM
Blndebnker, are you hot?
Posted by guest , Sep 12, 2008 1:43PM
i swear CNBC reads deal breaker and then tells everyone 5 mins later...
haven't had a friday off in a while, how an ppl stand CNBC!!!
Posted by guest , Sep 12, 2008 1:44PM
obamabots have no sense of humor.
***
re 21: blnd, that wasn't me.
Posted by guest , Sep 12, 2008 1:45PM
BTW, been hearing that BAC is shooting for $1 price target but LEH is not accepting.
Posted by guest , Sep 12, 2008 1:45PM
@22... *can
Posted by blndebnker , Sep 12, 2008 1:47PM
@21 - I think I'm pretty cute but I mean how would you know if I'm telling you the truth?
@23 - I figured it wasn't, guest. You're not very good at being stalked btw. Aren't you supposed to fear me or keep a low profile or something? This is too easy.
Posted by FUNdamental , Sep 12, 2008 1:50PM
waaaaaaaait a minute. There is another consequnce of all this merging and buying and failing that is not being considered. What is going to happen to the Christmas party circuit!!!! What will all the event planners do, and how many extra parties will I be a me to attend?
This is a potential disaster only 3 months away!!!!
Posted by Anal_yst , Sep 12, 2008 1:52PM
@ FUn
Crap, didn't think about that. Guess its back to the ol' hanukah bush this year, sigh...
Posted by guest , Sep 12, 2008 1:53PM
Yes, no more free Johnnie Walker Blue Label!!
Posted by guest , Sep 12, 2008 1:54PM
JPMooo
Posted by guest , Sep 12, 2008 1:54PM
Hanukah party...sounds great!!...bet there is not cost skimping for those...ha
Posted by guest , Sep 12, 2008 1:58PM
gather round the table
we'll give you a treat
sveviot to play with
levivot to eat...
Posted by guest , Sep 12, 2008 2:00PM
blnde- why does the potential for JPM-wamu upset you so?
Posted by blndebnker , Sep 12, 2008 2:01PM
@33 - It doesn't upset me. It just seems so ill-timed.
Posted by BSD , Sep 12, 2008 2:03PM
Faber says no to Morgan Mutual...
Posted by guest , Sep 12, 2008 2:04PM
@13: Osama will go down in flames in Nov! Cue the liberal online attack squad.
Posted by guest , Sep 12, 2008 2:04PM
fuck faber! fuck him!
Posted by guest , Sep 12, 2008 2:04PM
10, 8: no, no. these are completely different business. Do you really think anyone involved in integrating BSC with JPM would be involved with a WM transaction? The former is investment bank, the later branch operations. Totally different people, systems, procedures. If it was 18 mos ago, and they were still in the thick of digesting the retail operation of BONY, you would be correct. But not now. WM has a huge west coast and Florida retail (as in BRANCH) presence, which JPM, alone among the big banks, is missing.
Posted by guest , Sep 12, 2008 2:06PM
@38...ladder
Posted by guest , Sep 12, 2008 2:07PM
blnde- maybe so, but thats only cause it doesn't seem like anyone knows which way is up right now. Dimon is also the only wall st. CEO remaining (no offence to lloyd) with the capabilities and hubris to take advantage of these fire-sale prices. Remaining question is can he pull these mass-mergers off, or does he turn JPM into another shittygroup?
On a semi-unrelated note;I suggest everyone start drinking early today. whose in?
Posted by blndebnker , Sep 12, 2008 2:08PM
@38 - I know what you are saying and yes I agree the integrations would be completely separate due to the nature of the businesses. However, what I was saying is that JPM's resources are already being spent and that taking on another merger could overload the system so to speak.
Posted by guest , Sep 12, 2008 2:09PM
@ 26 must be a fatal attraction.
I wonder if you're that chick in the corner...
Posted by guest , Sep 12, 2008 2:09PM
@39...unless you are putting up a noose to hang yourself....It's f*cking latter!!
Posted by guest , Sep 12, 2008 2:10PM
@21, if you want to know, just ask her what she's wearing. that is always good for a smile.
Posted by blndebnker , Sep 12, 2008 2:10PM
@40 - Exactly. I am sure he can pull it off but how successful will it be? And not for nothing but how much bigger does JPM need to be?
Posted by blndebnker , Sep 12, 2008 2:12PM
@43 - If she's wearing big dark sunglasses, then yes. Run.
Posted by guest , Sep 12, 2008 2:12PM
@blndebnker ... "need" to be?
Posted by guest , Sep 12, 2008 2:14PM
@42...either way you said later...cum dumpster
Posted by blndebnker , Sep 12, 2008 2:15PM
@47 - You know what I mean... when is enough, enough? I'm not saying they shouldn't look to expand and grow but it strikes me a overambitious to try and do two big mergers in a year.
Posted by guest , Sep 12, 2008 2:16PM
How about Ringling Bros.?
Posted by guest , Sep 12, 2008 2:18PM
@48. Different person. I know he/she said later, but that was missing one letter...an omission. Yours is blatant stupidity, while attempting to correct someone no less!!!! BAHHHHH feeling sheepish?
Posted by guest , Sep 12, 2008 2:19PM
blnd: an innocent question: what's a nice girl like you...
Posted by guest , Sep 12, 2008 2:27PM
@49 you are missing the point, there is no such concept in bank world as how big you "need" to be, there is only how big you WANT to be and the answer is always as big as profitably possible. in this case, there is nothing intrinsically wrong with also having a strong west coast branch banking presence so I see no reason why the brain trust over at the Royal Bank of Dimon wouldn't want to pick up WM as long as they don't feel they will get crushed on the existing assets.
Posted by guest , Sep 12, 2008 2:28PM
blnde- need, or want? two very different things.
You only need one car (or in your case LV bag). However you want a bunch more, right?
-40
Posted by guest , Sep 12, 2008 2:30PM
@51, actually it's not, the pronunciation of "ladder" and "latter" are the exact same, whereas "later" is completely different. I would much rather have readers understand the sentence first time through, than getting stuck on a word. An omission my ass...go back to your shanties people!!
Posted by blndebnker , Sep 12, 2008 2:33PM
@53 - No, I know. Totally see what you're saying but now seems like an inopportune time given the current state of chaos.
@54 - I'm semi-offended by that. I prefer cars over LVs. They are ugly and don't go 0 to 60 in 5 seconds.
Posted by guest , Sep 12, 2008 2:38PM
blnde, can I make cyber love to you
Posted by guest , Sep 12, 2008 2:38PM
55 38 here. My profound apologies for misspelling "later". I wonder though how you think the sentence could be misunderstood: "The former is investment bank, the later branch operations." A clear comparison, former and later (sp.). Who (besides you, who, despite your "go back to your shanties comment", is probably a poet himself dwelling in either a shanty or in Williamsburg - to my mind, the same thing) doesn't understand that the opposite of former is "latter", even if its spelled incorrectly as "later". Jeez..
Posted by guest , Sep 12, 2008 2:40PM
@57-- no but you can hate fuck me
--bldbnker
Posted by blndebnker , Sep 12, 2008 2:42PM
hahaha knock yourself out 57.
Posted by FUNdamental , Sep 12, 2008 2:43PM
59 -- who would want to hate fuck the bald banker??
Posted by guest , Sep 12, 2008 2:44PM
@58,
I really couldn't give two shits about how you spell any word. I just absolutely love to get a rise of people on this website. With all the hubris that floats around on this site it's just too damn easy.
I don't live in Brooklyn, but supposedly the Williamsburg area is just as expensive as some areas of Manhattan (excluding anything above 100th street and anything in alphabet city).
Posted by blndebnker , Sep 12, 2008 2:46PM
@FUN - haha seriously. atleast spell my handle correctly if you are going to impersonate me.
Posted by guest , Sep 12, 2008 2:47PM
is cyber hate fucking possible?
Posted by guest , Sep 12, 2008 2:49PM
@64 yes...wanna try it?
Posted by guest , Sep 12, 2008 2:49PM
how do you work in excel if your blind?
Posted by guest , Sep 12, 2008 2:51PM
blnde- okay. that was effen cool! I heart you! You coming to the 'lehman is burning' party?
40/54
Posted by blndebnker , Sep 12, 2008 2:54PM
haha aw thanks! where is this leh burning party?
Posted by guest , Sep 12, 2008 2:55PM
blnde- I dont know. I mean I'm going drinking with leh guys, but come to think of it don't you think carney and bess should pony up and throw one?
-40/54
Posted by guest , Sep 12, 2008 2:57PM
blndbnker is a slooooot
Posted by guest , Sep 12, 2008 2:57PM
what is dick fuld doing right this second?
Posted by guest , Sep 12, 2008 2:57PM
blndebnker, i got reservations at Dorsia, will you go with me...lose that douche @69
Posted by guest , Sep 12, 2008 2:58PM
what is dick fuld doing right this second?
Posted by guest , Sep 12, 2008 2:58PM
@72 so do I, but I have a sicker business card.
Posted by guest , Sep 12, 2008 2:59PM
@71,
losing money!!
Posted by guest , Sep 12, 2008 3:00PM
what is dick fuld doing right this second?
Posted by guest , Sep 12, 2008 3:01PM
@74do you think he's JO&C'ing?
Posted by blndebnker , Sep 12, 2008 3:03PM
haha you guys are priceless. i do think it would be lovely if bess and carney got something together for us.
Posted by guest , Sep 12, 2008 3:06PM
JPM just denied this according to bloomberg TV
Posted by guest , Sep 12, 2008 3:07PM
re 52: question withdrawn!
Posted by guest , Sep 12, 2008 3:08PM
@74do you think he's JO&C'ing?
Posted by guest , Sep 12, 2008 3:08PM
@ 79 "JPMorgan denies that DB guys are priceless"
Posted by guest , Sep 12, 2008 3:09PM
JPM denied it over an hour ago guy.
blnde- thank you. but i am more priceless than 72 (because i am in fact less of a douche dispite his claims), and did come up with an excuse to throw a kickass party, right?
-40/54/69
Posted by guest , Sep 12, 2008 3:10PM
@74do you think he's JO&C'ing?
Posted by guest , Sep 12, 2008 3:11PM
@74do you think he's JO&C'ing?
Posted by guest , Sep 12, 2008 3:12PM
@82 fuck off
Posted by guest , Sep 12, 2008 3:13PM
@ 83 you can't spell, yet you toss around big words.
the street discounts that big time.
Posted by blndebnker , Sep 12, 2008 3:14PM
@83 - Yes, I will give you that. Won't be making any LEH party tonight but I appreciate the invite.
Posted by guest , Sep 12, 2008 3:15PM
~~ 86: don't worry, size doesn't matter.
bwahahahahahahaha!
Posted by guest , Sep 12, 2008 3:26PM
Blonde baller - Come to Avon Bistro tonight. It's at 155 East 52nd Street between Lexington Avenue and Third Avenue. Great food and awesome cocktails (COCKtales). I'm 6'.5" tall and hung like a horse. You will leave satisfied!
Posted by guest , Sep 12, 2008 3:34PM
blonde, on your behalf, allow me to call 90 a dipshit.
Posted by guest , Sep 12, 2008 3:37PM
Cocktales...come on...are you still in middle school?
Posted by guest , Sep 12, 2008 3:42PM
@91 I think you have been taking too much Skoal. Go back to your barn and play some Gretchen Wilson and get jacked up on PBR. Then you can jack off onto your massive piles of credit card bills.
Posted by guest , Sep 12, 2008 3:42PM
blnde- ur welcome. I dont think i will be at any such party tonight, but it was a good idea in theory. and sorry for starting whatever developed into 70,71 and the like.
-0/54,69,etc
Posted by guest , Sep 12, 2008 3:44PM
May-o, Ma-a-a-ayo, Daylight come and the banks go away...
Posted by guest , Sep 12, 2008 3:45PM
@92 no just a lil horny. Seriously,
Avon Bistro is off the hook!
Check it out
http://www.avonbistro.com/
Posted by guest , Sep 12, 2008 3:53PM
blnde- ur welcome. I dont think i will be at any such party tonight, but it was a good idea in theory. and sorry for starting whatever developed into 70,71 and the like.
-0/54,69,etc
Posted by guest , Sep 12, 2008 3:53PM
blnde- ur welcome. I dont think i will be at any such party tonight, but it was a good idea in theory. and sorry for starting whatever developed into 70,71 and the like.
-0/54,69,etc
Posted by guest , Sep 12, 2008 3:57PM
96 I'm there. Not cause the NY strip is $28. (Cluz, check it out, you paid what at del Friscos last night? Maybe $45 - was it really that much better?) Also not cause of the decor, which looks a little like the best restaurant in Louisville. What's gettin me is "hung like a horse". See you later bud. Seriously though... Why you pimpin avon here? You a partner or something? Smart move - my BF, an advertising guy, tells me that they call that kind of thing gorilla marketing. Like when a hot woman or guy goes into bars all over town and creates buzz by ordering obscure brands of booze. GAnalYst
Posted by guest , Sep 12, 2008 4:18PM
@99 I don't work at Avon or derive any financial interest from them. I just like to drink and get wicked comps from the bartender. I just thought it would be fun to get blonde baller and these other dudes liquored up and see what happens.
GAnalYst -- the manager is an Asian twink. I'm str8 but I wouldn't mind biting into that! Hell's yeah!
Posted by Investorcluzo , Sep 12, 2008 4:19PM
@GAnalYst as I said before we went for convenience. definitely not my top choice. had the strip and it was $42, but this is nyc and one expects to overpay for a piece of meat (read into that what you will). haven't read all the posts, please forgive if I didn't address all the issues; just back from meeting in ct. oh, and yes, lots of fat guys in khakis, but there were two from your team hanging out at the bar late.
Posted by guest , Sep 12, 2008 4:23PM
@100 stop kidding yourself, you're gay...
Posted by guest , Sep 12, 2008 4:33PM
@ 93: I know you can't respond to this, because free time is over at 4 and you have to go back to your cell.
Nite nite.
Posted by guest , Sep 12, 2008 5:28PM
@103 If by cell you mean totally kick ass office space in one Manhattan's newest and most critically acclaimed buildings, then yes. I'm a temp so I'm here all day baby. Any time you need a cyber beatdown, just post it, hitter.
@100 not gay but I would suck a cucumber for a MD positon.
Posted by guest , Sep 12, 2008 5:53PM
wow.
this comment string is an abortion.
someone get the coat hanger.