Comments on: Fremont General Bank Is Going To Fail Imminently http://www.1stMillionAt33.com/2008/03/fremont-bank-is-going-to-fail-imminently/ A site to share my tips, tools, and humble thoughts on the journey to wealth Sun, 14 Mar 2010 05:25:38 -0700 http://wordpress.org/?v=2.8.5 hourly 1 By: Blitztour http://www.1stMillionAt33.com/2008/03/fremont-bank-is-going-to-fail-imminently/comment-page-1/#comment-4109 Blitztour Wed, 09 Apr 2008 19:27:30 +0000 http://www.1stMillionAt33.com/2008/03/fremont-bank-is-going-to-fail-imminently/#comment-4109 Is Jamie Dimon seriously considering Fremont General as an aqusition? I read the news about the rejected bid for WAMU and the article said "...Fremont would probably be too small for Dimon to be interested in" However, several financially astute friends tell me that it wouldn't surprise them in the least if Fremont was absorbed (with several other small regional entities) to give JP/Chase a greater presence CA. And, according to the people I spoke with) Fremont could be righted in the shortest period. Has anyone got a feel for this? Is Jamie Dimon seriously considering Fremont General as an aqusition? I read the news about the rejected bid for WAMU and the article said “…Fremont would probably be too small for Dimon to be interested in”

However, several financially astute friends tell me that it wouldn’t surprise them in the least if Fremont was absorbed (with several other small regional entities) to give JP/Chase a greater presence CA. And, according to the people I spoke with) Fremont could be righted in the shortest period.

Has anyone got a feel for this?

]]> By: Frugal http://www.1stMillionAt33.com/2008/03/fremont-bank-is-going-to-fail-imminently/comment-page-1/#comment-3969 Frugal Mon, 10 Mar 2008 15:33:05 +0000 http://www.1stMillionAt33.com/2008/03/fremont-bank-is-going-to-fail-imminently/#comment-3969 The first paragraph also indicated which bank it is without ambiguity. FMT is trading at around 50 cents. Freemont Bank is obviously not. The first paragraph also indicated which bank it is without ambiguity. FMT is trading at around 50 cents. Freemont Bank is obviously not.

]]> By: Frugal http://www.1stMillionAt33.com/2008/03/fremont-bank-is-going-to-fail-imminently/comment-page-1/#comment-3968 Frugal Mon, 10 Mar 2008 15:23:05 +0000 http://www.1stMillionAt33.com/2008/03/fremont-bank-is-going-to-fail-imminently/#comment-3968 Terrance L. Stinnett, In my article, I have a web link to the news that is refering to the actual Fremont Investment and Loan. I'm only calling it as Fremont Bank for short-hand, and I'm not aware of another bank with that name. I will correct the above with the right name. The stock symbol is FMT for the bank that I'm refering. Certainly, everything written here is solely my opinion. One should always consult their own financial advisor before making any big financial decisions. Terrance L. Stinnett,

In my article, I have a web link to the news that is refering to the actual Fremont Investment and Loan. I’m only calling it as Fremont Bank for short-hand, and I’m not aware of another bank with that name. I will correct the above with the right name. The stock symbol is FMT for the bank that I’m refering.

Certainly, everything written here is solely my opinion. One should always consult their own financial advisor before making any big financial decisions.

]]> By: James http://www.1stMillionAt33.com/2008/03/fremont-bank-is-going-to-fail-imminently/comment-page-1/#comment-3966 James Mon, 10 Mar 2008 07:45:09 +0000 http://www.1stMillionAt33.com/2008/03/fremont-bank-is-going-to-fail-imminently/#comment-3966 I want to say that I support Frugals statements regarding Freemont Bank. The fact of the matter is that if the shares are trading at 50 cents, the company is essentially worthless. While I am often wrong, worthless companies are usally worthless for a reason. Fiscal insolvency is often a strong reason for such low valued shares. He would be ethically remiss if he did NOT urge account holders to take their money out. I want to say that I support Frugals statements regarding Freemont Bank. The fact of the matter is that if the shares are trading at 50 cents, the company is essentially worthless. While I am often wrong, worthless companies are usally worthless for a reason. Fiscal insolvency is often a strong reason for such low valued shares.

He would be ethically remiss if he did NOT urge account holders to take their money out.

]]> By: Guest2 http://www.1stMillionAt33.com/2008/03/fremont-bank-is-going-to-fail-imminently/comment-page-1/#comment-3963 Guest2 Sat, 08 Mar 2008 18:17:48 +0000 http://www.1stMillionAt33.com/2008/03/fremont-bank-is-going-to-fail-imminently/#comment-3963 Thanks Terry. When i heard news about 'Fremont Bank' I was concerned and went looking for more facts. Bloghead Frugal - please update this post and publish a correction. - a Fremont Bank customer Thanks Terry. When i heard news about ‘Fremont Bank’ I was concerned and went looking for more facts.

Bloghead Frugal – please update this post and publish a correction.

- a Fremont Bank customer

]]> By: Guest http://www.1stMillionAt33.com/2008/03/fremont-bank-is-going-to-fail-imminently/comment-page-1/#comment-3958 Guest Fri, 07 Mar 2008 17:57:58 +0000 http://www.1stMillionAt33.com/2008/03/fremont-bank-is-going-to-fail-imminently/#comment-3958 See I told you, now you got Fremont's lawyer on you! See I told you, now you got Fremont’s lawyer on you!

]]> By: Terrance L. Stinnett http://www.1stMillionAt33.com/2008/03/fremont-bank-is-going-to-fail-imminently/comment-page-1/#comment-3954 Terrance L. Stinnett Fri, 07 Mar 2008 00:11:30 +0000 http://www.1stMillionAt33.com/2008/03/fremont-bank-is-going-to-fail-imminently/#comment-3954 Hi, I’m Terry Stinnett, General Counsel for Fremont Bank. We share your concerns about the financial condition of Fremont General and its subsidiary Fremont Investment and Loan, which are the companies you actually should refer to in your posting. The only problem is you refer to “Fremont Bank” and Fremont Bank has nothing to do with those two companies. Your post makes it sound like Fremont Bank is going to fail rather than them, and it needs to be corrected. Fremont Bank is in no financial difficulty whatsoever. We’re located in Northern California and have a brisk and thriving residential mortgage department. We believe that is because we have always been conservative with our underwriting. If you are interested in seeing what we do, check out our web site at www.fremontbank.com. But for now, please correct your post to refer to Fremont General and/or Fremont Investment and Loan. It’s important and we don’t take it lightly. Communications like yours (and you are by no means the only one to make this mistake) defame us and mislead the public. Thanks for your help. If you have any questions, send me an e-mail. Hi, I’m Terry Stinnett, General Counsel for Fremont Bank. We share your concerns about the financial condition of Fremont General and its subsidiary Fremont Investment and Loan, which are the companies you actually should refer to in your posting. The only problem is you refer to “Fremont Bank” and Fremont Bank has nothing to do with those two companies. Your post makes it sound like Fremont Bank is going to fail rather than them, and it needs to be corrected. Fremont Bank is in no financial difficulty whatsoever. We’re located in Northern California and have a brisk and thriving residential mortgage department. We believe that is because we have always been conservative with our underwriting. If you are interested in seeing what we do, check out our web site at http://www.fremontbank.com. But for now, please correct your post to refer to Fremont General and/or Fremont Investment and Loan. It’s important and we don’t take it lightly. Communications like yours (and you are by no means the only one to make this mistake) defame us and mislead the public. Thanks for your help. If you have any questions, send me an e-mail.

]]> By: Terrance L. Stinnett http://www.1stMillionAt33.com/2008/03/fremont-bank-is-going-to-fail-imminently/comment-page-1/#comment-3953 Terrance L. Stinnett Fri, 07 Mar 2008 00:11:21 +0000 http://www.1stMillionAt33.com/2008/03/fremont-bank-is-going-to-fail-imminently/#comment-3953 Hi, I’m Terry Stinnett, General Counsel for Fremont Bank. We share your concerns about the financial condition of Fremont General and its subsidiary Fremont Investment and Loan, which are the companies you actually should refer to in your posting. The only problem is you refer to “Fremont Bank” and Fremont Bank has nothing to do with those two companies. Your post makes it sound like Fremont Bank is going to fail rather than them, and it needs to be corrected. Fremont Bank is in no financial difficulty whatsoever. We’re located in Northern California and have a brisk and thriving residential mortgage department. We believe that is because we have always been conservative with our underwriting. If you are interested in seeing what we do, check out our web site at www.fremontbank.com. But for now, please correct your post to refer to Fremont General and/or Fremont Investment and Loan. It’s important and we don’t take it lightly. Communications like yours (and you are by no means the only one to make this mistake) defame us and mislead the public. Thanks for your help. If you have any questions, send me an e-mail. Hi, I’m Terry Stinnett, General Counsel for Fremont Bank. We share your concerns about the financial condition of Fremont General and its subsidiary Fremont Investment and Loan, which are the companies you actually should refer to in your posting. The only problem is you refer to “Fremont Bank” and Fremont Bank has nothing to do with those two companies. Your post makes it sound like Fremont Bank is going to fail rather than them, and it needs to be corrected. Fremont Bank is in no financial difficulty whatsoever. We’re located in Northern California and have a brisk and thriving residential mortgage department. We believe that is because we have always been conservative with our underwriting. If you are interested in seeing what we do, check out our web site at http://www.fremontbank.com. But for now, please correct your post to refer to Fremont General and/or Fremont Investment and Loan. It’s important and we don’t take it lightly. Communications like yours (and you are by no means the only one to make this mistake) defame us and mislead the public. Thanks for your help. If you have any questions, send me an e-mail.

]]> By: lakshmanan http://www.1stMillionAt33.com/2008/03/fremont-bank-is-going-to-fail-imminently/comment-page-1/#comment-3952 lakshmanan Fri, 07 Mar 2008 00:08:16 +0000 http://www.1stMillionAt33.com/2008/03/fremont-bank-is-going-to-fail-imminently/#comment-3952 I completely agree with your second statement when you make clarification on how blog should be written or worded. That makes sense. I got your point and hope you understood what I was saying. Going forward blogger would phrase his words so there is no undesired consequences. I completely agree with your second statement when you make clarification on how blog should be written or worded. That makes sense. I got your point and hope you understood what I was saying. Going forward blogger would phrase his words so there is no undesired consequences.

]]> By: Guest http://www.1stMillionAt33.com/2008/03/fremont-bank-is-going-to-fail-imminently/comment-page-1/#comment-3951 Guest Thu, 06 Mar 2008 23:37:14 +0000 http://www.1stMillionAt33.com/2008/03/fremont-bank-is-going-to-fail-imminently/#comment-3951 Lakshmanan, there have already been lawsuits filed against numerous bloggers. You can read about the most famous recent one here: http://blog.mariah.com/2007/12/ml-implode-o-meter-stettles-lawsuit/ Freedom of speech doesn't give you the right to make false accusations against someone, have them lose business, and you walk away with no consequences. Statements like, "It's going to be taken over by FDIC for sure" are part of the problem. Proceeding to tell people to pull "ALL" of their money out now isn't very helpful either. How do you *know* for sure that it's going to be taken over? That statement should have read, "In my opinion, there is a high probability that this bank will end up in the hands of FDIC if actions aren't taken to mitigate it's current financial crisis." Here's a definition for you: libel - a written or oral defamatory statement or representation that conveys an unjustly unfavorable impression b (1): a statement or representation published without just cause and tending to expose another to public contempt (2): defamation of a person by written or representational means (3): the publication of blasphemous, treasonable, seditious, or obscene writings or pictures (4): the act, tort, or crime of publishing such a libel Lakshmanan,

there have already been lawsuits filed against numerous bloggers. You can read about the most famous recent one here:

http://blog.mariah.com/2007/12/ml-implode-o-meter-stettles-lawsuit/

Freedom of speech doesn’t give you the right to make false accusations against someone, have them lose business, and you walk away with no consequences. Statements like, “It’s going to be taken over by FDIC for sure” are part of the problem. Proceeding to tell people to pull “ALL” of their money out now isn’t very helpful either. How do you *know* for sure that it’s going to be taken over? That statement should have read, “In my opinion, there is a high probability that this bank will end up in the hands of FDIC if actions aren’t taken to mitigate it’s current financial crisis.”

Here’s a definition for you:

libel – a written or oral defamatory statement or representation that conveys an unjustly unfavorable impression b (1): a statement or representation published without just cause and tending to expose another to public contempt (2): defamation of a person by written or representational means (3): the publication of blasphemous, treasonable, seditious, or obscene writings or pictures (4): the act, tort, or crime of publishing such a libel

]]> By: lakshmanan http://www.1stMillionAt33.com/2008/03/fremont-bank-is-going-to-fail-imminently/comment-page-1/#comment-3949 lakshmanan Thu, 06 Mar 2008 17:33:05 +0000 http://www.1stMillionAt33.com/2008/03/fremont-bank-is-going-to-fail-imminently/#comment-3949 Honestly he is just doing favor by letting people know about the reality. So do you think folks are going to Sue Ben starting more and more small banks would fail.. Come one people have to use their own judgment and not rely on someone to make important financial decision. So if you have financial adviser and lost money due to his recommendation, would u sue him...also when folks like creamer in cnbc public television say sell this stock and the stock goes north would you sue them... Similar to situation when someone posts there is good CD rate in particular bank and you put money in there and the bank goes bankrupt would you sue them.. Just like what happened at E-trade little while back.. blogger here is posting his opinion.. he did not ask you to come read nor send you personal email asking you to withdraw.. you came read on your own and can't count him liable for your action. I am sure we have disclosure somewhere in this site which states the same.. all said and done I understand your posting your opinion in good intentions.. but want to make sure we don't stop blogger to express his honest and true opinion by warning with msgs like this. Honestly he is just doing favor by letting people know about the reality. So do you think folks are going to Sue Ben starting more and more small banks would fail.. Come one people have to use their own judgment and not rely on someone to make important financial decision. So if you have financial adviser and lost money due to his recommendation, would u sue him…also when folks like creamer in cnbc public television say sell this stock and the stock goes north would you sue them… Similar to situation when someone posts there is good CD rate in particular bank and you put money in there and the bank goes bankrupt would you sue them..

Just like what happened at E-trade little while back.. blogger here is posting his opinion.. he did not ask you to come read nor send you personal email asking you to withdraw.. you came read on your own and can’t count him liable for your action. I am sure we have disclosure somewhere in this site which states the same.. all said and done I understand your posting your opinion in good intentions.. but want to make sure we don’t stop blogger to express his honest and true opinion by warning with msgs like this.

]]> By: Guest http://www.1stMillionAt33.com/2008/03/fremont-bank-is-going-to-fail-imminently/comment-page-1/#comment-3948 Guest Thu, 06 Mar 2008 17:19:05 +0000 http://www.1stMillionAt33.com/2008/03/fremont-bank-is-going-to-fail-imminently/#comment-3948 Love your blog but I would caution you against making potentially libelous statements like this one that might get you sued. Unless you have insider information, there is no way of knowing if this bank is working on getting capital from other sources. If people start withdrawing money from this bank in droves as a result of your statement and the bank doesn't fail then you're going to have a big problem on your hands. Just a heads up. Love your blog but I would caution you against making potentially libelous statements like this one that might get you sued. Unless you have insider information, there is no way of knowing if this bank is working on getting capital from other sources. If people start withdrawing money from this bank in droves as a result of your statement and the bank doesn’t fail then you’re going to have a big problem on your hands.

Just a heads up.

]]> By: Doug http://www.1stMillionAt33.com/2008/03/fremont-bank-is-going-to-fail-imminently/comment-page-1/#comment-3944 Doug Thu, 06 Mar 2008 07:19:27 +0000 http://www.1stMillionAt33.com/2008/03/fremont-bank-is-going-to-fail-imminently/#comment-3944 Me too. Sadly, you are absolutely right. Doesn't this make our politicians accessories after the fact? Me too.

Sadly, you are absolutely right.

Doesn’t this make our politicians accessories after the fact?

]]> By: Wpeyton http://www.1stMillionAt33.com/2008/03/fremont-bank-is-going-to-fail-imminently/comment-page-1/#comment-3943 Wpeyton Thu, 06 Mar 2008 02:56:24 +0000 http://www.1stMillionAt33.com/2008/03/fremont-bank-is-going-to-fail-imminently/#comment-3943 Sadly, I have to agree with your comment about the rewards of dishonesty. Sadly, I have to agree with your comment about the rewards of dishonesty.

]]>