Japan Video Games Blog

TO THOSE WHO DON'T WANT THEIR WORK PROMOTED

Hey guys and gals! We FIND and PROMOTE people's work, we never take credit for things we haven't written, we just love sharing the things that are interesting, but if you don't want your work or pictures shown, please let me know and I'll take it off, we're not trying to harm any one here or infringe on anyone's copyrights, just late night entertainment for my friends and I after a long days of work.

We're not making money off the site, nor are we publishing anything to other places through feedburner claiming that it's our work, just a hobby of finding cool things around the internet, that's all. Sometimes we copy and paste too quickly and a link giving you credit doesn't appear, if that's the case and you DO want your work promoted, we will add in the backlink, we would love to give credit where credit is due!

Please contact me or drop a comment on any posts you guys don't want up and I'll take it off within 24 hours, thanks!

Monday, July 14, 2008

WAMU GAME OVER SON - PULL YOUR FUNDS OUT LIKE I DID HAHAHAA - Bank shares plummet amid mortgage fears: Financial News - Yahoo! Finance

NEW YORK (Reuters) - Shares of National City Corp (NYSE:NCC - News) and Washington Mutual (NYSE:WM - News) plummeted more than 25 percent each, leading financial stocks lower on Monday amid fears about bank stability and the future of the mortgage market.

The rout in banking stocks was widespread, and included both commercial and investment banks. The KBW Bank index (Philadelphia:^BKX - News) fell 7 percent.

"The fear factor is in play right now," said Michael Nix, portfolio manager Greenwood Capital Associates.

Investors are particularly skittish about the health of the banking system after U.S. regulators swooped in to seize mortgage lender IndyMac Bancorp Inc (NYSE:IMB - News) on Friday in the third-largest banking failure in U.S. history.

"Investors are out there saying, if this happened to Indymac, why not NatCity?" said Matt McCormick, stock analyst at Bahl & Gaynor Investment Counsel in Cincinnati.

Kristen Baird Adams, a spokeswoman for National City, said, "Clearly there is a lot of market speculation broadly today. We are experiencing no unusual depositor or creditor activity."

The United States on Sunday offered to support Fannie Mae (NYSE:FNM - News) and Freddie Mac (NYSE:FRE - News). The two major mortgage lenders' difficulties threaten to further hurt the already weak U.S. mortgage market.

Washington Mutual could face $26 billion in losses, with $21 billion from mortgages, a report from Lehman Brothers said on Monday. A Washington Mutual spokesman was not immediately available for comment.

Washington Mutual shares were off $1.45 to $3.50 while National City shares fell $1.15 to $3.27.

(Reporting by Dan Wilchins, Elinor Comlay, and Jonathan Stempel, editing by Mark Porter)

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