Mccain Is Suspending His Campaign

[tashaboo74]

Everyone, be sure to vote in this PBS poll: http://www.pbs.org/now/polls/poll-435.html

The question is: Do you think Sarah Palin is qualified to serve as Vice President of the United States?

[Scrills]

Here's an article from th NY Times about the horse fungicide in DC





http://www.nytimes.com/2008/09/26/us/polit...ampaign.html?hp



At the bipartisan White House meeting that Mr. McCain had called for a day earlier, he sat silently for more than 40 minutes, more observer than leader, and then offered only a vague sense of where he stood, according to people in the meeting.

[sunschild57]

well WaMu just went belly up <_<

[Scribetastic]

well WaMu just went belly up <_<
[/b]

Actually: Highlights of JPMorgan&#39;s purchase of WaMu&#39;s bank unit

Some quick facts on the sale of Washington Mutual Inc.&#39;s banking operations to JPMorgan Chase & Co., after the government seized WaMu tonight:

--- All of WaMu’s deposits, including those above federal insurance limits, will be acquired by JPMorgan, so no depositors will lose money. Deposits totaled $188 billion as of June 30 but the sum is smaller now because of recent outflows.

New York-based JPMorgan now will become the No. 1 U.S. bank by deposits, with more than $900 billion. Bank of America Corp. will be No. 2, with $785 billion.

--- All of WaMu’s 2,239 branches nationwide in 15 states will become part of JPMorgan’s Chase retail bank system.

--- JPMorgan also is buying all of WaMu’s assets, meaning its outstanding mortgages, other loans and credit card business. So WaMu borrowers now will become JPMorgan borrowers.

--- JPMorgan isn’t taking responsibility for WaMu common stock, preferred stock or its bonds. The fate of those investors is left with the Federal Deposit Insurance Corp., which tonight was named receiver for WaMu by the federal Office of Thrift Supervision.

WaMu common stock plunged to 45 cents in after-hours trading. The shares had closed at $1.69, down 57 cents, in the regular session, as some investors and traders obviously figured a wipeout was coming.

--- JPMorgan is paying the FDIC approximately $1.9 billion for WaMu’s banking business. FDIC Chairwoman Sheila Bair said JPMorgan gave the "highest bid" of four banks that made offers for WaMu.

--- JPMorgan plans to take a $31 billion writedown of WaMu’s $307 billion of total assets as of June 30, reflecting its estimate of "remaining credit losses related to impaired loans."[/b]

Yes, they went under, but it&#39;s to be expected considering they were in mortgage financing. I&#39;m glad to hear JPMorgan is taking them over.

[sunschild57]

Actually: Highlights of JPMorgan&#39;s purchase of WaMu&#39;s bank unit

Yes, they went under, but it&#39;s to be expected considering they were in mortgage financing. I&#39;m glad to hear JPMorgan is taking them over.
[/b]

<_<

[Scribetastic]

<_<
[/b]

I&#39;m biased. I briefly worked for JPMorgan after law school. They&#39;ve managed to run a tight enough ship that they&#39;ve not gone down in this HUGE economic crisis. And, in its wake they&#39;ve stepped up twice.

The first one was a coup because they got the US government to guarantee the Bear Sterns bailout and got the Bear Sterns stock for $10 a share...wow!

I think with the second one they&#39;ll run Wamu well, but I also bank with Wamu, so I&#39;m interested in my bank staying afloat.

My point is, hate financial institutions or not JPMorgan, so far, is one player that appears to be in good enough shape to actually help "save" other institutions and that quells investor panic.

I "think" that means they weren&#39;t being as reckless and that&#39;s why they&#39;re still in a good position relative to other investment banks.

Also, I think JPMorgan is doing what ought to be done in this crisis. The strong banks (and other businesses) get out there and take over the weak ones. I guess the question is are there enough strong banks and other businesses? Well, with almost all of Wall Street decimated at this point how many more big failures can we really have? I don&#39;t agree for one minute with this $700 billion bailout of the finance sector because those are that&#39;s the sector that made these shady deals and that got us into this damn mess.

[caramelaggie]

If there is no debate tonight..............................

http://www.msnbc.msn.com/id/26900453

[Nappilocs]

IA sunchild about the homeowners. At some point, they need to take responsibility and own up to the fact that they bought a house they knew good and well they couldn&#39;t afford. I became a homeowner at the age of 22. DH and I made it a priority to buy a home we could afford on our own. Not a home we could afford based on a loan. Yeah, it sucks that a lot of people fell for the crap the banks were putting out, but please take some responsibility. It can&#39;t be all woe is me.
[/b]

IA...

[gigglezk]

Hmm...so your campaign is suspended right? So shouldn&#39;t these mofos go home?

http://www.huffingtonpost.com/2008/09/25/m...t_n_129327.html

[caramelaggie]

^^^^^^^^^^^^ Because he didnt suspend anything. I dont think that McCain is scared to debate but I do think that after the few inteviews Palin has done they are afraid to let her debate and this is their way of "pushing it back" next think you know there will be no time for her to debate.

I am disgusted by the whole course of events. I havent been able to watch her interview with Couric on line but everything I have read online has been horrible. I mean it doesnt take a VP candidate to know that you dont say we could possibly go into a depression. Part of the economy is about perception. You need to put up real picture but not doomsday. What is she trying to do kill my 401K?