National City trades halted mid-session, WaMu down over 26% - Slashdot

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Journal CauseWithoutARebel's Journal: National City trades halted mid-session, WaMu down over 26% 1

Journal by CauseWithoutARebel on Monday July 14, 2008 @12:29PM

M&T is off over 15% too.

Nothing wrong here, though. The economy has been "provided ... with a booster shot" which will have an "impact over the coming months" so that growth will be "weak but still positive".

And don't worry. Hank himself isn't too concerned about recession. He's just "not focused right now on what you call it".

I always liked flapper girls anyway...

Just as a fun number, it looks like the last time National City (National City is a super regional bank, incidentally, if you've never heard of it) traded this low was almost 25 years ago.

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National City trades halted mid-session, WaMu down over 26%

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The *real* outcome ... (Score:2)

by tomhudson ( 43916 ) writes:

Fannie and Freddie can now borrow at the discount window ... using what as collateral? Oh, those worthless mortgages. Because let's face it, until prices fall back to historic income/price ratios, the mortgage is a ticking bomb.
What HAD to happen was that Fanne and Freddie had to be allowed to fail. That would have caused prices to drop like a stone, and attracted investment. Now? Ain't gonna happen.
If the weaker banks had been allowed to fail, people would have shifted their money to other, stronger b

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Stellar rays prove fibbing never pays. Embezzlement is another matter.