WaMu next?

[w¡n9Nµ7 §£@¥€r 123]

Ailing bank Washington Mutual got a much-needed boost Tuesday, following news of a possible merger with JPMorgan Chase.

...

"If you believe the stories, JPMorgan is currently doing its due diligence," said Morton Pierce, head of mergers & acquisitions at law firm Dewey & Leboeuf.

...

Pierce added that if JPMorgan doesn't jump to WaMu's rescue, then he expects the thrift will go the way of Lehman Brothers Holdings.

http://www.forbes.com/equities/2008/09/16/...6markets34.html

[IAMX 3,055]

If it is, time to switch banks and credit cards for me.

[w¡n9Nµ7 §£@¥€r 123]

If it is, time to switch banks and credit cards for me.

Frankly, if enough WaMu customers withdrew their customer deposits in response to this news, the news would come true - even if it may not have otherwise.

[IAMX 3,055]

If it is, time to switch banks and credit cards for me.

Frankly, if enough WaMu customers withdrew their customer deposits in response to this news, the news would come true - even if it may not have otherwise.

Well, I'd be fine up to $100,000 anyways, but regardless, I don't want to deal with switching to another bank, especially because most of my options involve banks that suck with customer service (which Wamu does not, in their branches at least), or fees that are ridiculous.

Is Wells Fargo in any trouble?

[w¡n9Nµ7 §£@¥€r 123]

Is Wells Fargo in any trouble?

Dude, if I had access to that kind of information before Google did, I'd be a rich man.

[IAMX 3,055]

Is Wells Fargo in any trouble?

Dude, if I had access to that kind of information before Google did, I'd be a rich man.

Had to ask.

[kaydee457 13]

FDIC website has a list of "on the brink" banks.....I don't know when it was last updated though. Haven't been there in a while.

[MrsCat 6]

FDIC website has a list of "on the brink" banks.....I don't know when it was last updated though. Haven't been there in a while.

Suze Orman was just talking about this yesterday on some news show.

http://www.cnbc.com/id/25720504/

[HAL 9000 96]

That would suck for account holders over $100K in total deposits under the same name. Unless they pulled their money down to FDIC-insured levels.

This may be a time to diversify if you are in a position where you have more than that on deposit at any one bank. But given this economy... how many people are there out there that have this kind of solvency?

[MrsCat 6]

That would suck for account holders over $100K in total deposits under the same name. Unless they pulled their money down to FDIC-insured levels.

This may be a time to diversify if you are in a position where you have more than that on deposit at any one bank. But given this economy... how many people are there out there that have this kind of solvency?

Not me or hubby. We do own a nice tv though. We could hock that for some cash.

[EstebanTrabajos 7]

Damn it!

There goes my millionare life, u said they just insured up to 100K right?

[HAL 9000 96]

Damn it!

There goes my millionare life, u said they just insured up to 100K right?

Yeah there goes my secret money stash...

Gonna have to go back to my Swiss account.

[mawilson 2,133]

I don't think anyone's going to save WaMu, or at least not their shareholders. Their stock will follow Fannie and Freddie down to zero.

There goes my millionare life, u said they just insured up to 100K right?

$100k per account.

If you have $300k, you need 3 accounts.

[almaty 19]

the big dog is back and ready to bark..welcome back old friend..dean Edited September 17, 2008 by almaty

[IAMX 3,055]

Any banks that aren't going down that I can switch my checking/savings/credit card to?

I'd hate to move, as I've had no problems with Wamu whatsoever, but I don't want to know the difficulty I'd go through (or time it would take) in getting my money back that I need for moving, the wedding, furniture, etc.