JPMorgan to buy Wamu

[spookyturtle 9,466]

I know you love Sarah Palin, but it can go somewhere else.

Not really.

[Chica Yeyé 41]

Credit unions can - and do - fail.

Not university ones!

We are with WaMU/JP Morgan. I was thinking about just switching everything to the univ. credit union, too.

[IAMX 3,055]

Credit unions can - and do - fail.

Not university ones!

We are with WaMU/JP Morgan. I was thinking about just switching everything to the univ. credit union, too.

Well, as long as something survives I'll stick with it. I'm an American, we're lazy, and don't like to do more work than necessary.

Edited September 26, 2008 by SRVT

[w¡n9Nµ7 §£@¥€r 123]

I wonder what kind of health HSBC is in.

[payxibka 10,045]

Credit unions can - and do - fail.

Not university ones!

Why not? They are subject to the same market risks as everyone else.... If members started to withdraw there funds they would run out of liquidity and would be in trouble.... No different.

[HAL 9000 96]

I wonder what kind of health HSBC is in.

They also made an offer for WaMu...

[w¡n9Nµ7 §£@¥€r 123]

I wonder what kind of health HSBC is in.

They also made an offer for WaMu...

Cool. Good news, if they are buying and not being bought!

[HAL 9000 96]

Credit unions can - and do - fail.

Not university ones!

Why not? They are subject to the same market risks as everyone else.... If members started to withdraw there funds they would run out of liquidity and would be in trouble.... No different.

Sure. And credit unions tend to lend a little bit more conservatively, ie, with regards to actual income requirements instead of making more corporate risk maneuvers like the larger dogs.

Hence, the game is a bit different with credit unions. They may be subject to the same market risks, but not at the same level since their university (members') investments tend to be a bit more tied to its clientele... not exactly at risk mortgages and market accounts.

I wonder what kind of health HSBC is in.

They also made an offer for WaMu...

Cool. Good news, if they are buying and not being bought!

Even read that Banco Santander from Spain made an offer.

[payxibka 10,045]

I wonder what kind of health HSBC is in.

According to BankRate.com

HSBC BANK USA, NATIONAL ASSOCIATION

WILMINGTON, Delaware

Bankrate.com Star Rating: **

Safe & Sound CAEL Rating: 4

1) * or 5 is the worst rating so according to this they are less than average

As of June 30,

COMPOSITE SUMMARY

Bankrate believes that, as of June 30, 2008, this bank exhibited a below average condition, characterized by substantially lower than normal overall, sustainable profitability, satisfactory asset quality, below standard capitalization and seemingly ample liquidity.

http://www.bankrate.com/brm/safesound/rating.asp

[w¡n9Nµ7 §£@¥€r 123]

payx, thanks. I guess I should print out my statements lol.

[HAL 9000 96]

Yeah I'd keep my cash away from the big banks...

[w¡n9Nµ7 §£@¥€r 123]

Small banks fail too.

[payxibka 10,045]

No, you need to stay away from the banks I use...

I opened an account with IndyMac and withing 1 month it failed.

I opened an account with WAMU last week.....

I have recently opened an account with HSBC (though moved most of the money when they dropped there "teaser" rate).

RUN AJ RUN

Edited September 26, 2008 by payxibka

[w¡n9Nµ7 §£@¥€r 123]

I have recently opened an account with HSBC (though moved most of the money when they dropped there "teaser" rate).

I've been with HSBC for over a year now. Damn you! Now I have to leave

[HAL 9000 96]

yes they do AJ.

No, you need to stay away from the banks I use...

I opened an account with IndyMac and withing 1 month it failed.

I opened an account with WAMU last week.....

I have recently opened an account with HSBC (though moved most of the money when they dropped there "teaser" rate).

RUN AJ RUN

Damn!