WaMu Bank Goes under

[trax1]

I was just reading that Washington Mutual has gone under, the FDIC seized the bank yesterday and sold off it's assets to J.P Morgan for 1.9 Billion.  It said this is the largest bank collapse in history with it's 307 Billion in assets.  This is starting to get really bad.

http://finance.comcast.net/www/news.html?x=http://76.96.38.13/data/news/2008/09/26/1070478.xml

[Hangtime]

[Airscrew]

We have more banks than we needed anyway.  I say let'em go... poorly managed businesses should fail...

[Toad]

What Morgan paid pennies on the dollar to get, the dumbaxe taxpayers will pay Morgan high multiples to get.

Morgan made a shrewd move to get their snout into the trough first.

Be sure to thank your Congressmen for protecting your interest ($$$$) in the bailout.

[john9001]

every month WaMu sent me a offer for a credit card, all that postage, paper, printing, that stuff is not free, no wonder they went under.

[Eagler]

will my fake spam emails from them stop now?

[A8TOOL]

WAMU was my bank for checking, savings and mortgage. What happens now, who do I pay.

[Nefarious]

every month WaMu sent me a offer for a credit card, all that postage, paper, printing, that stuff is not free, no wonder they went under.

Got one in the mail two days ago. 

[Elfie]

WAMU was my bank for checking, savings and mortgage. What happens now, who do I pay.

I'm sure they will contact you. 


 

[Bodhi]

WAMU was my bank for checking, savings and mortgage. What happens now, who do I pay.

That sucks man.  You will be contacted, most likely by JP Morgan. 

If you are serious, call the FDIC and ask them who and where to get your money from.

[trax1]

WAMU was my bank for checking, savings and mortgage. What happens now, who do I pay.

Well this is from the article:

"For all depositors and other customers of Washington Mutual Bank, this is simply a combination of two banks," Bair said in a statement. "For bank customers, it will be a seamless transition. There will be no interruption in services and bank customers should expect business as usual come Friday morning."

[Gh0stFT]

buy € and your money is on the safe side.


...just a hint

[Stringer]

What Morgan paid pennies on the dollar to get, the dumbaxe taxpayers will pay Morgan high multiples to get.

Morgan made a shrewd move to get their snout into the trough first.

Be sure to thank your Congressmen for protecting your interest ($$$$) in the bailout.

Toad,
The really funny part about this is that JP tried to buy WAMU for $8 a share back in March.  Good thing ex WAMU CEO turned them down

[avionix]

And did you see that the CEO who has only been with the company for 17 days, is walking away with nearly $20 million.  $7.5 mil for getting hired and then an $11.5 mil severance package if he ever got fired.  Geesh.  Can I find something like that?

[Toad]

Toad,
The really funny part about this is that JP tried to buy WAMU for $8 a share back in March.  Good thing ex WAMU CEO turned them down

Apparently Wachovia is next up at bat.