WaMu: Should I jump ship?

[imported_Lothar]

Originally posted by: Mark R
For what it's worth, WM don't appear in the following 'unofficial troubled bank list':
List

"Please note that this is NOT the OFFICIAL FDIC troubled bank list!"
That's all I needed to read from that website.

 

[ponyo]

Originally posted by: Mark R

For what it's worth, WM don't appear in the following 'unofficial troubled bank list':
List

From what I understand, WaMu 18 month paper is trading over 50% yield. You think the debt holders are trying to tell you something?

 

[Cal166]

I have my paycheck direct deposit into WaMu, i will have to take a trip to HR soon.

 

[Christobevii3]

Wamu's preferred shares are trading at 80% discount and a 40% yield, they're going under.

 

[Itchrelief]

Originally posted by: IHateMyJob2004
Wamu is probably going to end up going under. Even if it is not, why take the risk? If they survive, it will be with a much reduced footprint.

Everyone says this, but what is the risk if you have under 100k in the account?

 

[tynopik]

Originally posted by: Itchrelief

Originally posted by: IHateMyJob2004
Wamu is probably going to end up going under. Even if it is not, why take the risk? If they survive, it will be with a much reduced footprint.

Everyone says this, but what is the risk if you have under 100k in the account?

a record of the fact that your bank went under will go in your 'permanent file'

 

[Kelvrick]

Originally posted by: sciencewhiz

Originally posted by: fishjie
i've never had to go through the fdic to get my money back and i'm guessing neither have you. so you're making an awful lot of assumptions there. the government is never efficient or competent. the dmv and postal office are strong evidence of this. i doubt its as easy as walking in and walking out with your money.

Yes, it is that easy. With IndyMac, the bank closed Friday, and reopened Monday. Checks and debit transactions (ATM) went through without a hitch while the bank was closed. Everything else worked again starting Monday morning. There is no difference between before the bank closed and after the FDIC takes control.

I love how the idiot tells me I'm making a lot of assumptions.

 

[Old Hippie]

Originally posted by: CPA

Originally posted by: Special K
With every other bank that has failed so far this year, the FDIC shut the bank down on a Friday and funds were available by no later than the following Monday, IIRC.

Only 11 banks have been shut down this year. That's the same as in 2002 and noone was panicking then.

List of closed banks.

I must have the kiss of death.

I've had accounts at 2 of those.

 

[Svnla]

If you have less than 100K, you don't have to worry about anything (fully covered by FDIC).....http://www.fdic.gov/deposit/De...ts/insured/basics.html


As a matter of fact, I am planning to get a 1 year CD from WaMu this week, 5% APY FTW.

 

[Special K]

Originally posted by: Svnla
If you have less than 100K, you don't have to worry about anything (fully covered by FDIC).....http://www.fdic.gov/deposit/De...ts/insured/basics.html


As a matter of fact, I am planning to get a 1 year CD from WaMu this week, 5% APY FTW.

Yeah, I don't understand the panic in this thread. If you have less than $100k at WaMu, you have nothing to worry about.

 

[Itchrelief]

Originally posted by: Special K

Originally posted by: Svnla
If you have less than 100K, you don't have to worry about anything (fully covered by FDIC).....http://www.fdic.gov/deposit/De...ts/insured/basics.html


As a matter of fact, I am planning to get a 1 year CD from WaMu this week, 5% APY FTW.

Yeah, I don't understand the panic in this thread. If you have less than $100k at WaMu, you have nothing to worry about.

I think it's because everyone on ATOT makes $250k+ a year and has millions in their accounts?

 

[JS80]

Originally posted by: Christobevii3
Wamu's preferred shares are trading at 80% discount and a 40% yield, they're going under.

lulz. pfd shares are convertible too.

 

[dmcowen674]

Originally posted by: jpeyton
WaMu and Lehman are both sinking ships.

I was told that's not possible when I predicted their demise in Jan 2007

 

[dmcowen674]

Originally posted by: Special K
Is WaMu "too big to fail??

:laugh:

 

[Dr. Detroit]

Originally posted by: dmcowen674

Originally posted by: Special K
Is WaMu "too big to fail??

:laugh:

Expect them to be bought out by BofA or Wells Fargo.

 

[oogabooga]

Originally posted by: Itchrelief

Originally posted by: Special K

Originally posted by: Svnla
If you have less than 100K, you don't have to worry about anything (fully covered by FDIC).....http://www.fdic.gov/deposit/De...ts/insured/basics.html


As a matter of fact, I am planning to get a 1 year CD from WaMu this week, 5% APY FTW.

Yeah, I don't understand the panic in this thread. If you have less than $100k at WaMu, you have nothing to worry about.

I think it's because everyone on ATOT makes $250k+ a year and has millions in their accounts?

It's too had for me to send my supermodel girlfriend in my new car to withdraw all the stuff. I gotta practically write it down before she understands.

seriously though : it's worth wondering about. I'm keeping my money in WAMU, but i have less than 100K so I'm not stressing.

 

[T9D]

I have USAA. I think they are fine but just in case I started moving my money over $100,000 to Bank Of America. You never know with anyone now adays. All the shady accounting and lies. Until the day it happens. I'm pretty confident in USAA. But no reason to chance it when I don't need to. Rather be safe and have it in different banks so it's all insured. Kind of annoying having to have 3 banks.

 

[imported_Lothar]

Originally posted by: Fmr12B

Originally posted by: dmcowen674

Originally posted by: Special K
Is WaMu "too big to fail??

:laugh:

Expect them to be bought out by BofA or Wells Fargo.

They won't be bought by BoA. I know that for a fact.

 

[imported_Lothar]

Originally posted by: dmcowen674

Originally posted by: jpeyton
WaMu and Lehman are both sinking ships.

I was told that's not possible when I predicted their demise in Jan 2007

If you predicted their demise in Jan 2007, why are you not rich?
Why didn't you short the market?

 

[SSSnail]

This is how shits started, rumors and unfounded panicking.

This is a repost btw.

 

[mugs]

Originally posted by: dmcowen674

Originally posted by: jpeyton
WaMu and Lehman are both sinking ships.

I was told that's not possible when I predicted their demise in Jan 2007

Link?

You make so many predictions of doom and gloom, you pretty much have all of the bases covered so that when bad things do happen, you can say you predicted it.

jpeyton is just following the sheep mentality that creates a feedback loop that turns a possible problem into an inevitable failure. It's as if he's rooting for companies to fail.

 

[mugs]

Originally posted by: Lothar

Originally posted by: dmcowen674

Originally posted by: jpeyton
WaMu and Lehman are both sinking ships.

I was told that's not possible when I predicted their demise in Jan 2007

If you predicted their demise in Jan 2007, why are you not rich?
Why didn't you short the market?

He had all of his money tied up in bets on earthquakes and hurricanes.

 

[Dulanic]

Originally posted by: Lothar

Originally posted by: Fmr12B

Originally posted by: dmcowen674

Originally posted by: Special K
Is WaMu "too big to fail??

:laugh:

Expect them to be bought out by BofA or Wells Fargo.

They won't be bought by BoA. I know that for a fact.

Yup can't happen, their market share is too large now after LaSalle. However they are definitely looking at Lehman since their not a deposits company.

 

[Slew Foot]

Originally posted by: mugs

Originally posted by: dmcowen674

Originally posted by: jpeyton
WaMu and Lehman are both sinking ships.

I was told that's not possible when I predicted their demise in Jan 2007

Link?

You make so many predictions of doom and gloom, you pretty much have all of the bases covered so that when bad things do happen, you can say you predicted it.

jpeyton is just following the sheep mentality that creates a feedback loop that turns a possible problem into an inevitable failure. It's as if he's rooting for companies to fail.

FWIW I remember him making the call as I made a similar call as well. I actually did something about it and bought puts on a bunch of banks, Dave just complained about Republican overlords.

 

[dmcowen674]

Originally posted by: Slew Foot

Originally posted by: mugs

Originally posted by: dmcowen674

Originally posted by: jpeyton
WaMu and Lehman are both sinking ships.

I was told that's not possible when I predicted their demise in Jan 2007

Link?

You make so many predictions of doom and gloom, you pretty much have all of the bases covered so that when bad things do happen, you can say you predicted it.

jpeyton is just following the sheep mentality that creates a feedback loop that turns a possible problem into an inevitable failure. It's as if he's rooting for companies to fail.

FWIW I remember him making the call as I made a similar call as well.

I actually did something about it and bought puts on a bunch of banks, Dave just complained about Republican overlords.

Well that just illustrates the gap between the rich and poor.

We already know AT is full of rich and their distain for the poor but thanks for pointing that out for the millionth time.