http://news.yahoo.com/s/nm/20080926/ts_nm/us_washingtonmutual_jpmorgan_news
It was then bought by J.P.Morgan anc Chase. - making them 2nd biggest in the country.
Business will be normal Friday - so they say.
I'm betting a long line tomorrow at the bank.
If they were bought out they will be just fine.
We had two bags of grass, seventy-five pellets of mescaline, five sheets of high-powered blotter acid, a salt shaker half full of cocaine, a whole galaxy of multi-colored uppers, downers, screamers, laughers…Also a quart of tequila, a quart of rum, a case of beer, a pint of raw ether and two dozen amyls. The only thing that really worried me was the ether. There is nothing in the world more helpless and irresponsible and depraved than a man in the depths of an ether binge. –Raoul Duke
It is hard to shed anything but crocodile tears over White House speechwriter Patrick Buchanan's tragic analysis of the Nixon debacle. "It's like Sisyphus," he said. "We rolled the rock all the way up the mountain...and it rolled right back down on us...." Neither Sisyphus nor the commander of the Light Brigade nor Pat Buchanan had the time or any real inclination to question what they were doing...a martyr, to the bitter end, to a "flawed" cause and a narrow, atavistic concept of conservative politics that has done more damage to itself and the country in less than six years than its liberal enemies could have done in two or three decades. -Hunter S. Thompson
It's called the FDIC. Your deposits are covered up to 100k
Currently playing: Civ 6
WaMu being bought out by JP is probably the best thing that could have happened for you, considering the circumstances. Do not panic.
my brother is pretty high up and wamu, luckely this wont effect him at all. he said if anthing this will be better... the transition will probably take less then a year, and shouldn't really have any big effect on anyone
although he said things might get a bit more strict, such as no more free checking, minimum balances, etc or something... anyway, just wanted to give some input :)
As I stated in the WAMU tread here: http://www.vgchartz.com/forum/thread.php?id=43159&start=0
A friend of mine on the Facebook said in her status for folks with WAMU accounts to withdraw their money. I think she knew something was up earlier this week.
I'm glad that $700 billion bailout didn't go through (yet).
WaMu could have received money and who knows what could have happened.
If Wamu is safe, consider putting your money on their CD account at 5%.
Their on-line savings is at 4%.
| MattAAron said: my brother is pretty high up and wamu, luckely this wont effect him at all. he said if anthing this will be better... the transition will probably take less then a year, and shouldn't really have any big effect on anyone although he said things might get a bit more strict, such as no more free checking, minimum balances, etc or something... anyway, just wanted to give some input :) |
No, it won't affect him, but all of the employees who had their retirement savings in WaMu stock just became suicidal.
Currently playing: Civ 6
I shouldn't close my wife's Wamu account and take all the money then?!?
I stopped by the bank this morning and the line was really long - came out to the parking lot.
I talked with a guy who works there (on break) and he said it was crazy! Mostly from people who are worried and freaking out a bit.
My money is still in WaMu (they have good rates right now).
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