You sort of knew that the Bangkok Bank Flu was going to hit the regionals and super regionals once they saw the haughty WaMu brought low. I suppose it means something that Dimon et. al. have made provisions for expensive refurbishing given that many WaMu branches don't have vaults in them. That has to be some kind of indicator worth paying attention to. (Recommendation: A PIPE transaction with Fischet).
National City has broken the $3 floor, after a 40%ish drop, its paper probably on its way to the non-existent WaMu vault. Fifth/Third, which had been pretending not to notice for some time, is starting to notice. Wachovia took at 30% haircut. Wells Fargo, however, having been sprinkled with Magic Buffett DustTM is up 5%. That stuff bends space and time to such an extent that Steve Jobs might defacto have given up his monopoly on the Reality Distortion Field.TM
Update: Relax, Asian bankers. We weren't suggesting another Thai currency crisis or anything. Just a highly virulent fiscal bug that is going around in the new center of American Finance: North Carolina.
Wachovia, National City tumble on bailout, WaMu news [Reuters]
Posted by guest , Sep 26, 2008 1:17PM
ALL CAPS!
Posted by guest , Sep 26, 2008 1:19PM
too banned, didn't short
Posted by guest , Sep 26, 2008 1:20PM
Uh, WHAT "Bangkok Bank Flu"? Is this the real "Tanakaan Krungthep" you're talking about here?
If so, if there's a "flu" in the Thai banking system I want to know RIGHT NOW or I'll hunt your your ass down for inciting a run on the Thai banking system.
Fuck, already watched my ex employer Lehman fail epically last week. No more of this shit unless it's backed up by documentation.
Posted by guest , Sep 26, 2008 1:22PM
Uh, WHAT "Bangkok Bank Flu"? Is this the real "Tanakaan Krungthep" you're talking about here?
If so, if there's a "flu" in the Thai banking system, good idea if you get transparent unless you want a bunch of folks who'll off you for 20,000 baht coming after you for inciting a bank run here.
Posted by guest , Sep 26, 2008 1:34PM
I would rather have my money in WaMu than the best bank in Thailand. I would rather have the skankiest hooker in Thailand than the best one in Seattle.
Posted by guest , Sep 26, 2008 1:36PM
I wish people would pull up WB's financials before comparing them to WM.
Posted by Carneys Mom , Sep 26, 2008 1:40PM
i dont get it. whos shorting these bank stocks to make them go down?
speaking of going down. id go down on steve jobs.
Posted by guest , Sep 26, 2008 1:44PM
SEG, got a name for the after market FDIC visit rumor?
Posted by guest , Sep 26, 2008 1:45PM
@5 and all, gotta apologize for my gut reaction about the bank run shit, but we've had people crowding the doors buying gold physical the past week and my girlfriend's family has their savings in Bangkok Bank. Not to mention the implosion of the entire Western banking system. And the PM Samak was deposed just a couple of weeks ago, with street protests still going on and all of that, so things are sorta edgy here all things considered. But I agree, the women are fucking fabulous.
Posted by guest , Sep 26, 2008 1:48PM
Go question. How are these banks going down after Chrissy Cox banned nekid short selling?
I have an idear (dumn ass people in the east always add and "r" to words). Why not ban the free market. Have the Uncle Sam cut a check for the entire equity market. Marx and Lenin where right. The government needs to own the mean of production.
Long live Mao Tse Bush.
Posted by guest , Sep 26, 2008 1:48PM
Go question. How are these banks going down after Chrissy Cox banned nekid short selling?
I have an idear (dumn ass people in the east always add and "r" to words). Why not ban the free market. Have Uncle Sam cut a check for the entire equity market. Marx and Lenin where right. The government needs to own the means of production.
Long live Mao Tse Bush.
Posted by guest , Sep 26, 2008 1:51PM
http://oddmusings.wordpress.com/2008/09/26/50/#comments
odd...
Posted by guest , Sep 26, 2008 1:52PM
And dumb ass people in the west always omit "od" from good, the "s" form means and then double post only to fix one of those problems.
Long Live C**t Juice at 10 and 11.
Posted by guest , Sep 26, 2008 1:54PM
Damn.
-13
Posted by Carneys Mom , Sep 26, 2008 1:55PM
@9 sounds like you need to spend time with a thai hooker.
speaking of thai hookers, i am a thai hooker.
Posted by guest , Sep 26, 2008 1:56PM
go
mean
SPODE
Posted by guest , Sep 26, 2008 1:57PM
go
means
SPODE
Posted by guest , Sep 26, 2008 2:07PM
@15, why, that's a fantastic idea!
Only problem, you use grammatically correct English, and I only get turned on when I hear "I love you maak maak tirak, you so hansumm, bai we go now."
Can you do that?
Posted by Harald , Sep 26, 2008 2:27PM
"Wells Fargo, however, having been sprinkled with Magic Buffett DustTM is up 5%. That stuff bends space and time "
too funny
Posted by guest , Sep 26, 2008 2:29PM
@Equity Private "Update: Relax, Asian bankers. We weren't suggesting another Thai currency crisis or anything. Just a highly virulent fiscal bug that is going around in the new center of American Finance: North Carolina."
No huge worries, just things have been surreal on all fronts. Anyway, I can say with certainty that 95% of the folks in this neck of the woods don't give a shit about the current crisis. The Bangkok HiSos will at worst have to give up their Mercedes and drivers, and their maids and drivers will just go back to the family farm in Isaan and laugh at the rest of us suckers who traded in everything for a society based on extremely brittle technology and threw away our ties to extended family. They will eat after this is all said and done (as they did after the crisis of '97). We may well not.
Posted by guest , Sep 26, 2008 2:35PM
EP,
If you're covering Asia, could you please report on Nicolas Cage starring in Bangkok Dangerous?
Posted by guest , Sep 26, 2008 2:35PM
EP,
If you're covering Asia, could you please report on Nicolas Cage starring in Bangkok Dangerous?
Posted by guest , Sep 26, 2008 2:36PM
EP,
If you're covering Asia, could you please report on Nicolas Cage starring in Bangkok Dangerous?
Posted by guest , Sep 26, 2008 3:21PM
I hear Dick Fuld is taking his half of the proceeds from his art collection and moving to Phuket to live with a handful of Thai boys who will care for him the way the LEH Management Committee did.
Posted by StupidEquityGuy , Sep 26, 2008 3:27PM
Its in the top part of this post...
http://www.alternet.org/blogs/peek/100370/breaking:_photos_from_the_wall_street_bail_out_protest/
Posted by StupidEquityGuy , Sep 26, 2008 3:37PM
sorry about that... the rumor is in the top part of this post... the link in the other post was just for humor... didn't mean to post it connected like that...
~SEG
CongressCritters have to be loving this... they get to sit in front of cameras and talk to their people every few hours. They could not buy this amount of TV time. I believe we might have a longer crisis then we expected, as they filibuster America...
Posted by guest , Sep 28, 2008 5:56PM
EP just tried to be funny but failed miserably
Posted by kavin , May 18, 2009 12:38AM
I like your article i think you are having fun.I think your customers really like your products and you are always trying to do better.
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kavin
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