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Wachovia - Time to Bail?

Started by morganb · 9 months ago

A guest post by new Blownmortgage.com contributor, MG Dungan.  MG has gone from Wharton to Wall St. to real estate to Blown Mortgage. And we’re excited.  I hope you are too.

After last week, and last weekend in particular, we can’t help but wonder who’s next.

Although possibly a ploy to gain passage of the Paulson Bailout Plan, [...] ... Continue reading »

4 comments

  • Frank Miller

    9 months ago

    This is a very disturbing trend with our banks, but it should serve as a wake up call to all American investors. If you want to protect your money, you need to diversify and invest at least some of it overseas. These are hard times for American investing firms. I personally use offshore bank accounts and they have helped me with diversification and asset protection. If you want to read more on why offshore investing is smarter, feel free to visit my website.

    Best,
    Frank Miller
    http://www.theoffshorebankaccount.com
    reply
  • marko

    9 months ago

    Interview representatives of Wachovia.
    Such details of the transaction are unlikely to have waited!
    http://tubedirect.net/index.php?q=Wachovia-inte...
    all this... Personally, I do not like it
    reply
  • mgdungan

    9 months ago

    I couldn't run the video, Marko, but I'm going to make a wild guess that it's something negative.

    This isn't really a bail out, more of a seizing control and wiping out certain classes of debt and equity holders.

    More mark-to-marketing too. If it weren't for the much larger crisis with the Paulson Bailout Plan today getting all the attention, we'd be hearing a lot more about it.

    Fortunate coincidence, I guess. Yeah, that's it, fortunate coincidence.

    mg
    reply
  • mgdungan

    9 months ago

    Re: investing overseas. You've got a good point, Frank. But you've got to make sure you can repatriate those $$ when you need them.

    Taking money out of your home country has been a precaution of the thirld world, up until now that is. Amazing what things have come to.

    mg
    reply

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