Log In | Register
JPMorgan Chase & Co. came to the rescue of ailing Washington Mutual on Thursday, buying the nation's largest thrift after WaMu was seized by the Federal Deposit Insurance Corp. (FDIC) in the largest bank failure in world history.
JPMorgan buys collapsed Washington Mutual: Account holders face no losses
Seeded on Fri Sep 26, 2008 9:24 AM EDT
Article Source: The Washington Times- Enjoy this article? Help vote it up the 'Vine.
- Public Discussion (9)
Washington Mutual ran into trouble after it got caught up in the booming part of the mortgage business that made loans to people with bad credit, known as subprime borrowers.
- 4 votes
#1 - Fri Sep 26, 2008 9:25 AM EDTShaun,
Thanks for the seed. I was wondering what was going on. I bank with WaMu, and I woke up to hearing on the TV in my room saying WaMu went bankrupt overnight. I was hoping I was dreaming, but alas, I was not. I was a little worried at first, as my hubby's paycheck gets direct deposited, and I had bills to pay, that the bank would be "shut-down" to business. Phew, sigh of relief, it is still "open for business".
So I guess the only question left to ask is, who's next?
- 2 votes
So I guess the only question left to ask is, who's next?
Good question.
I am betting things will be okay with your husband's check.
- 3 votes
Of course everything was fine, just that initial, "Oh my Gosh!" is enough to make panic set in for a moment. I am kinda sad though, I like WaMu "Whoo Hoo"! :-) Their CEO commercials were kinda funny.
- 2 votes
So I guess the only question left to ask is, who's next?
We the taxpayers are next as the Rockefeller and Morgan heirs take what we have left.
- 2 votes
We the taxpayers are next as the Rockefeller and Morgan heirs take what we have left.
What a nonsensical rant!
- 1 vote
I'm a WaMu customer, and I was never worried. Not sure why, but I never even considered pulling my money out during all the talk of bankruptcy. I knew my money was insured, and I just didn't think it would ever get to the point where the bank was literally shuttered. Now that JP Morgan has taken over, it's business as usual.
- 4 votes
#2 - Sun Sep 28, 2008 1:01 PM EDTyeah as long as you didn't exceed the insurance limits you were fine and did the right thing. why go through all the hassle of pulling your money out and opening a new account elsewhere, if you are covered.
- 4 votes
You're in Easy Mode. If you prefer, you can use XHTML Mode instead. |
As a new user, you may notice a few temporary content restrictions. Click here for more info.
