Comments on: Colonial, gone … Did FDIC tip its hand?

By: Jack Matalka

Jack Matalka — Sun, 16 Aug 2009 01:24:56 +0000

I question your use of “failed banks” description of what has been going on by the FDIC vis a vis your reference to WMI, Inc. the bank holding company of Washington Mutual Bank(WMB). WMI, Inc. had a $4.1B cash deposit(the turn over) and $17B in capitol infusion with WMB when it was seized and sold to JPMorgan for $1.88B. How do you like that-JPM take 21B of WMI,Inc. money for 1.9B of your money- Fair trade from your point of view I suppose when you refer to it as a “failed bank”. Have you done your reporting investigative due diligence? Do you know that there is a Fradulant Conveyance law suit
filed against the FDIC by WMI, Inc. in washiongton DC federal court? Do you know that several insurance companies holding equity ownership in WMI, Inc. have filed a law suit against JPMorgan for collusion in the destruction of WMB? Do you know that Judge Walrath issued an order for discovery ineffect ordering JPMorgan in a subpoena to produce records of events leading to the seizure of WMB? The records were due Aug 1, 2009?
Do you know that the WMI, Inc. lawyers have made mention of a global settlement discussions with the FDIC and JPM in there latest billing for their services?
The least you can do is admit that there is a lot about WMB seizure you don’t know? Don’t go around calling yourself an investigative reporter unless you do a thorough due diligence and report the facts. I hope your next blog will show that you are a good investigative reporter when you report Washington Mutual was far from a “failed bank” when it was seized. The question for you is Why then it was seized and sold for a fraction of its value?

By: steve

steve — Sat, 15 Aug 2009 01:43:03 +0000

Where are the bonuses??

Guess they werent too big to fail

By: Pravin

Pravin — Fri, 14 Aug 2009 22:51:45 +0000

Failed Banks Total Goes to 74 in 2009 and 99 since 2008.

Colonial Bank, Montgomery, Alabama was the biggest bank failure of 2009.
As of June 30, 2009, Colonial Bank had total assets of $25 billion and total deposits of approximately $20 billion.

Before this in 2008, we have seen bigger failures as Washington Mutual(Assets : $307 billion ) and IndyMac (Assets : $32 billion).

Check all the failed banks in 2009 at
http://portalseven.com/Failed-Banks-2009

Check map of failed banks at :
http://portalseven.com/Failed-Banks-Map- 2009

By: Marty

Marty — Fri, 14 Aug 2009 17:28:22 +0000

Excellent idea, Andrew. I’ll help build the chamber.

By: Hany

Hany — Fri, 14 Aug 2009 16:57:30 +0000

great investigative work…

By: Andrew

Andrew — Fri, 14 Aug 2009 16:53:48 +0000

I demand 24 hour a day instant news cycle for you Rolfe.

We’ll put you in a hyperbaric chamber filled with an oxygen/caffeine gas mixture and plate the inside with tv feeds.

We can call it the “Situation Room”. Wait… is that name taken?