WaMu is largest U.S. bank failure - Chicagoland Sportbikes
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post #1 of 70 (permalink) Old 09-25-2008, 11:09 PM Thread Starter
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WaMu is largest U.S. bank failure

wow, just wow! i heard about this 2 weeks and wondered what would happen if it would. and sure enough it did. good thing regardless or FDIC or not. my shit was emtpy'd down to a few hundo here and there in these accounts.

glad JP bought em out which is whom i am with now.


that bank sucked ass, but none the less. my god where they upside down!!


http://news.yahoo.com/s/nm/20080926/..._jpmorgan_news



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post #2 of 70 (permalink) Old 09-25-2008, 11:13 PM
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post #3 of 70 (permalink) Old 09-25-2008, 11:20 PM
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I have emptied out all my money except for enough to keep my account open with my bank and have cash in hand just in case. I dont know whats going to happen and I dont trust anything or what anybody says. Cash in my hand speaks a lot louder then my money frozen in my bank.

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post #4 of 70 (permalink) Old 09-25-2008, 11:24 PM
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I hope the banks that i have credit cards with go out of business. FTW
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post #5 of 70 (permalink) Old 09-25-2008, 11:35 PM
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I already have a chase account..
lol
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post #6 of 70 (permalink) Old 09-25-2008, 11:36 PM
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eh, your either BOA, chase or citibank....pick one

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post #7 of 70 (permalink) Old 09-25-2008, 11:42 PM
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I'm transferring my $$ to corus bank. Their rates are relatively competitive and the bank is in better shape.
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post #8 of 70 (permalink) Old 09-25-2008, 11:44 PM
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i have TCF.

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post #9 of 70 (permalink) Old 09-25-2008, 11:54 PM
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well I also have ING Direct and 5/3 ... ING being my primary, the others are just easy spots to get money out of an ATM.
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post #10 of 70 (permalink) Old 09-25-2008, 11:58 PM
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post #11 of 70 (permalink) Old 09-26-2008, 12:18 AM
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post #12 of 70 (permalink) Old 09-26-2008, 12:19 AM
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exspensive, but you get what you pay for.
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post #13 of 70 (permalink) Old 09-26-2008, 01:13 AM
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well this sucks

I don't have a bank acct there but I have one of their credit cards, and they were the nicest, easiest, bank to ever have a card from...

free credit analysis/numbers...they always raised my limits

so now they are JP Morgan...so what happens to my credit card and stuff on it?
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post #14 of 70 (permalink) Old 09-26-2008, 01:19 AM
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Quote:
Originally Posted by Sku110ne View Post
well this sucks

I don't have a bank acct there but I have one of their credit cards, and they were the nicest, easiest, bank to ever have a card from...

free credit analysis/numbers...they always raised my limits

so now they are JP Morgan...so what happens to my credit card and stuff on it?

Same here. In the exact same boat.

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A government big enough to give you everything you want, is big enough to take away everything you have"
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post #15 of 70 (permalink) Old 09-26-2008, 04:16 AM
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Quote:
Originally Posted by Sku110ne View Post
well this sucks

I don't have a bank acct there but I have one of their credit cards, and they were the nicest, easiest, bank to ever have a card from...

free credit analysis/numbers...they always raised my limits

so now they are JP Morgan...so what happens to my credit card and stuff on it?
Not sure if you'd want to continue using that or getting a different one elsewhere. JPM issued statements that forecast they'll integrate WaMu's credit card division into their operation sometime in 2010
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post #16 of 70 (permalink) Old 09-26-2008, 05:37 AM
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post #17 of 70 (permalink) Old 09-26-2008, 06:28 AM
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$75 in Wamu, pulled everything else over the summer... whew! I'm still looking for a good closeby bank

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post #18 of 70 (permalink) Old 09-26-2008, 07:00 AM
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RBS here, you can never take money from a Scotsman. LOL!

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post #19 of 70 (permalink) Old 09-26-2008, 07:04 AM
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Funny. The ex took up a wamu account when we divorced.

I stuck with JP morgan Chase.


Sucks for her!
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post #20 of 70 (permalink) Old 09-26-2008, 07:10 AM
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iv been with chase for years the last 4 years. no complaints.

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post #21 of 70 (permalink) Old 09-26-2008, 07:11 AM
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RBS here, you can never take money from a Scotsman. LOL!

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BWAHAHAHA Coming from a Scotsman I can definitely say I agree.

Ian
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post #22 of 70 (permalink) Old 09-26-2008, 07:12 AM
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I guess all that free shit they were giving away with their checking accounts did them in huh? Where's the casually dressed dude in the commercials now? That's right, sucking off the old, fat guys dressed in suits.
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post #23 of 70 (permalink) Old 09-26-2008, 07:42 AM
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Quote:
Originally Posted by Silentalero View Post
eh, your either BOA, chase or citibank....pick one

just don't pick citibank

trust me, you won't lose your cc debt just because the bank it's with goes under. Infact, quite the opposite. You might end up worse off.

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post #24 of 70 (permalink) Old 09-26-2008, 07:56 AM
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post #25 of 70 (permalink) Old 09-26-2008, 08:22 AM
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I have said it before and I will say it again, one day Chase will own the world - They have $436B in Capital and the US Gov has $738B - You do you math - I know this cuz the dude who is letting me stay with him in SD for free is with JPMC

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post #26 of 70 (permalink) Old 09-26-2008, 08:25 AM
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Quote:
Originally Posted by Ernie View Post
Not sure if you'd want to continue using that or getting a different one elsewhere. JPM issued statements that forecast they'll integrate WaMu's credit card division into their operation sometime in 2010
+1

Mergers and aquisitions take a great deal of time to integrate businesses. For the immediate future, nothing will change from your perspective.
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post #27 of 70 (permalink) Old 09-26-2008, 08:32 AM
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My house & bike are with wamu, and I also have a chase account..... Funny thing is that they called me with an offer to go to a fixed rate last night about 4:00pm with no fee's. Wonder if that's still a good offer? Gonna have to check it out cause it was a good offer for me financial wise
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post #28 of 70 (permalink) Old 09-26-2008, 08:40 AM
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Unless any of you have more than $100k in your savings accounts and/or $250k in an IRA ALL at one bank I wouldnt be too worried about losing it or withdrawing it.

Come on folks...these are the knee-jerk reactions that cause bank failures. FDIC FTW.
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post #29 of 70 (permalink) Old 09-26-2008, 08:44 AM
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I just have a savings & checking acct with them. We'll see what chase does to the interest rate. Whatever it does, I'm sure the change won't be immediate/over night, but it's helpful to have the next bank already set up.

Wonder how many more banks are going to fail like this.....
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post #30 of 70 (permalink) Old 09-26-2008, 08:46 AM
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Watch what the lemmings are doing and do the opposite.
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