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  #1  
Old 09-26-2008, 08:34 AM
I'm thinkin, I'm thinkin.
 
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Location: Arlington, Texas
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WaMu no more..

My dear sister was correct 5 months ago....

http://news.yahoo.com/s/ap/20080926/ap_on_bi_ge/washington_mutual_future

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  #2  
Old 09-26-2008, 09:03 AM
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Wow, I remember when people told me I was an idiot for not having some of my money in WAMU. Glad I didn't. That is really astounding.
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  #3  
Old 09-26-2008, 09:08 AM
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I wonder how the Seattle job market will change because of this? I wonder how this will ripple through to my job and my brothers job, which are both related to the home markets...
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  #4  
Old 09-26-2008, 09:12 AM
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I expect this thing is so big that hardly anyone will fail to feel the effects of it in some way.
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1998 Lincoln Continental - Sold
Max 1984 300TD 285,000 miles - Sold
The Dee8gonator 1987 560SEC 196,000 miles - Sold
Orgasmatron - 2006 CLS500 90,000 miles
2002 C320 Wagon 122,000 miles
2016 AMG GTS 12,000 miles
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  #5  
Old 09-26-2008, 09:14 AM
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J P Morgan stepped in and saved the day.
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  #6  
Old 09-26-2008, 09:16 AM
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They have a long history of doing that, ever since the big man himself was running the company.
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1998 Lincoln Continental - Sold
Max 1984 300TD 285,000 miles - Sold
The Dee8gonator 1987 560SEC 196,000 miles - Sold
Orgasmatron - 2006 CLS500 90,000 miles
2002 C320 Wagon 122,000 miles
2016 AMG GTS 12,000 miles
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  #7  
Old 09-26-2008, 09:28 AM
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My mortgage is with them
Guess I'll keep e-paying as usual 'till I hear otherwise.
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  #8  
Old 09-26-2008, 09:38 AM
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Quote:
Originally Posted by dynalow View Post
My mortgage is with them
Guess I'll keep e-paying as usual 'till I hear otherwise.
Make sure you keep stellar track of your payments while this transitions. Several years ago when our mortgage bank went under, the new bank was after us for 2 payments that were made to the original bank and it was hell...
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  #9  
Old 09-26-2008, 11:18 AM
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Originally Posted by AdvisorGuy View Post
Make sure you keep stellar track of your payments while this transitions. Several years ago when our mortgage bank went under, the new bank was after us for 2 payments that were made to the original bank and it was hell...

Point!
I did have some snafus with them a few years ago over escrow payments for my h/o insurance policy, as in them escrowing for it and not paying the premium.
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  #10  
Old 09-26-2008, 11:35 AM
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Quote:
Originally Posted by TX76513 View Post
J P Morgan stepped in and saved the day.
With government intervention. Dodged a bailout bullet there.
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  #11  
Old 09-26-2008, 11:55 AM
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Quote:
Originally Posted by dynalow View Post
My mortgage is with them
Guess I'll keep e-paying as usual 'till I hear otherwise.
One of the wife's clients, and we have a property loan with them. Transition is supposed to be seamless At least they are leaving all local Counsel in place for their pending litigation
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  #12  
Old 09-27-2008, 11:03 AM
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I read that their CEO, who was just hired in early September with an $7 million sign-on bonus, got a nice $11 million severance package. All within 2 weeks!
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  #13  
Old 09-27-2008, 11:24 AM
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Quote:
Originally Posted by 123c View Post
I wonder how the Seattle job market will change because of this? I wonder how this will ripple through to my job and my brothers job, which are both related to the home markets...
According to accounts I heard on the radio, the corporate office will likely close but branch offices will stay about the same. IIRC WaMu has between 40K and 50K employees, and between 3K and 4K work at their corporate offices.

But the bank and branches will remain open. My guess is that they will market their products heavily since they got a bargain on the buyout.
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  #14  
Old 09-27-2008, 02:42 PM
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i closed my account with them a little over a week ago. when i was at the bank 12 other people in front of me were all closing their accounts. but hey i guess its a good thing that JPmorganChase helped because there would be a big problem if not.
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  #15  
Old 09-29-2008, 09:58 AM
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I never wanted to put my money in a bank that had a name that resembled a war cry from someone who had marbles in their mouth.

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