WaMu: Should I jump ship?

[wwswimming]

i had an account with Great Western & then with Home Savings. both of which
WaMu Whooo Hooo bought.

i'm taking the approach of pre-paying my rent. i figure it's better for my landlord
to have that money, than to have it in a checking account & not get access to
Da Funds.

they are having a very old-fashioned deal on checking accounts, free checking,
no minimum balance. seems like it's been awhile since banks had that kind of
account, usually checking has a minimum balance.

 

[Special K]

Originally posted by: 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.

What are you talking about? What do your comments even mean?

 

[Acanthus]

All i want to know is do my WaMu bills go away if they go belly up

 

[Freejack2]

Crap, I just recently applied for their card with the 2.99% balance transfer.

If I go ahead with the transfer and they go under, will the bank they sell it to keep the low interest rate?

 

[alkemyst]

Originally posted by: Ns1

Originally posted by: jpeyton
I'd jump ship regardless, just on principle alone.

No point in doing your banking with a company that's going under.

I'll be pretty sad. I banked with bofa + wells fargo as well and I like WaMu the best.

WAMU is the ghetto of banks, it appeals to the free-banking crowd. I don't know anyone that has major funds in a WAMU account, however; everyone I know has on of their free checking accounts due to things like the cash back and stuff the just give away.

Higher level banks have services that cater to those with hirer balances. Like with WAMU I can do wire transfers to Japan for free, but I have to be there in person and fill out a half dozen forms and declare I am not sending my money to anyone promising me lotteries winnings, a trust account, etc.

With Citi I pay a slight fee for each transfer, but I can do them online myself at any time.

WAMU's have got to have the most people in line to the fewest associates working out of any bank.

 

[Ns1]

The bad
WaMu Rating Lowered to Junk by S&P on Mortgage Losses

The Good
``On a more positive note, we recognize that WaMu's holding company liquidity position is currently solidly positioned to meet all of its fixed obligations through 2010,'' S&P said. ``The bank is operating with adequate capital positions from a regulatory perspective and has demonstrated funding resilience as the deposit franchise has remained stable.''


http://www.bloomberg.com/apps/...YTh_cI&refer=worldwide

 

[imported_six]

Originally posted by: alkemyst


WAMU is the ghetto of banks, it appeals to the free-banking crowd. I don't know anyone that has major funds in a WAMU account, however; everyone I know has on of their free checking accounts due to things like the cash back and stuff the just give away.

Higher level banks have services that cater to those with hirer balances. Like with WAMU I can do wire transfers to Japan for free, but I have to be there in person and fill out a half dozen forms and declare I am not sending my money to anyone promising me lotteries winnings, a trust account, etc.

With Citi I pay a slight fee for each transfer, but I can do them online myself at any time.

WAMU's have got to have the most people in line to the fewest associates working out of any bank.

If you go to one in a poorer neighborhood, it's a line out the door during the 1st Friday, Saturday, and Monday of the month.

If you go to one in a wealthier neighborhood, it's dead quiet...hardly any customers...with 2-3 bank reps browsing the net.

One of the WaMu regional managers told me it's because people in the poorer neighborhood don't do online banking. Some would wait 30 minutes in line just to check their account balance.

 

[Baked]

Come to BofA, we're gonna acquire WaMu next.

 

[CTrain]

Damm, so many people in here spewing nonsenses.
Your money under $100K are totally safe.
If everyone panic and pull their money, they will go under
Hopefully WAMU will pull through.
Theres talk of Chase taking over WAMU since has a large presence in the US.

 

[Mermaidman]

Looks like you'll be OK--Smooth transition to JP Morgan.