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WaMu

Tonearm_RobberyTonearm_Robbery 699 Posts
edited September 2008 in Strut Central
Anyone else use them?b,121b,121Anyone else nervous about their nut?b,121b,121Has anyone questioned their branch about being absorbed by JP Morgan?b,121b,121Is JP Morgan and Chase the same company?b,121b,121What questions should I be asking?b,121b,121Any recommendations (or alternatives) to banks?b,121b,121Does this crisis affect Credit Unions, are they some how safe(er) from all this?b,121b,121b,121My local branch was a mad house1today at lunch. We were assured that not only we're we insured by the FDIC (up to $100,000 per account) but that the absorbsion and changeover will be seamless and unfelt.b,121b,121Regardless, I wanted a little face time with one of the talking heads there but I had to get back to the office.1 So I'm hitting them up after work, I just wanted to know what proper questions I should be asking (or if I should be shutting down accounts and riding the train with a knot in my thigh)?b,121b,121F*ck it, I'm gonna pull all my money out and blow it at the PUTS show tonight.b,121b,121"..act dumb / drink beers with bums / dig through the crates.."b,121b,121Oh yeah - I found this 45 the other day. b,121b,121object width="425" height="344"1param name="movie" value=""1/param1param name="allowFullScreen" value="true"1/param1embed src="" type="application/x-shockwave-flash" allowfullscreen="true" width="425" height="344"1/embed1/object1

  Comments

  • Tonearm_RobberyTonearm_Robbery 699 Posts
    object width="425" height="344"1param name="movie" value=""1/param1param name="allowFullScreen" value="true"1/param1embed src="" type="application/x-shockwave-flash" allowfullscreen="true" width="425" height="344"1/embed1/object1
  • breadwinnerbreadwinner 535 Posts
    a href="http://www.chase.com/welcomewamu/" target="_blank"1http://www.chase.com/welcomewamu//a1b,121b,121read that.
  • yuichiyuichi Urban sprawl 11,332 Posts
    I use1Wamu checking. Please let us know about anything significant!
  • Tonearm_RobberyTonearm_Robbery 699 Posts
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    b,121
    b,121read that.
    b,121
    b,121
    h,121
    font class="post"1b,121b,121These are basically the same answers I received when I went down to the branch after work, and after looking this over and listening to them rave about the "power and security" of JP Morgan/Chase, it would seem that this is actually a step up in companies and a good thing.b,121b,121And thats exactly what scares me. 1Seems TOO good.b,121b,121Regardless, no freeze is1in place and I got a bank statements of all my accounts, just to be safe.b,121b,121I'm wondering if I should have taken out some cash to keep1it on hand with me? Dumb move?
  • ariel_calmerariel_calmer 3,762 Posts
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    b,121I use1Wamu checking. Please let us know about anything significant!
    b,121
    b,121
    h,121
    font class="post"1b,121b,121You are no longer able to use1WaMu to pay for records. It's tragic, but life goes on.
  • shooteralishooterali 1,591 Posts
    Alert[/b] Wachovia is next on this list of troubled Banks. I have an account with these folls so I'm paying close attention now.
  • Tonearm_RobberyTonearm_Robbery 699 Posts
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    Alert[/b] Wachovia is next on this list of troubled Banks. I have an account with these folls so I'm paying close attention now. b,121b,121h,121
    font class="post"1b,121b,121Yeah. When it rains, it fu*king pours...b,121b,121My car loan (payments) goes through them.b,121b,121Maybe Im a jinx?b,121b,121What should I expect with my car payments if the axe falls on them?
  • CBearCBear 902 Posts
    Banks are FDIC insured for $100,000. Most of you will be fine, but ballers beware.
  • selperfugeselperfuge 1,165 Posts
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    b,121Banks are FDIC insured for $100,000. Most of you will be fine, but ballers beware.
    b,121
    b,121
    h,121
    font class="post"1b,121b,121damn i need to remember to withdraw my record money account right quick thenb,121b,121/reynaldo
  • hogginthefogghogginthefogg 6,098 Posts
    A good friend of mine has a buddy who's worked at WaMu for 8 years. He lost all his employee stock--%$45k worth. And he'll probably lose his job, too, but the former is much more disturbing to me.
  • SaracenusSaracenus 671 Posts
    I am not a lawyer, banker, or financial guy.b,121b,121I am part of a business that uses WaMu as their bank. We are FDIC insured but that didn't even come up because of the JP Morgan/Chase buy out. We are fine and able to use all our funds.b,121b,121As for FDIC it covers accounts held by a SSN#/FID# up to $100,000 dollars. Where it get's complicated is when you have joint account(s) with someone else at that bank. Depending on how the joint account(s) are set up can mean you are protected less or greater than that 100K.b,121b,121Talk to your banker, because I sat through a 2 hour hell meeting with ours trying to untangle the multiple joint account holders and how1it affected each account. The poor bank lady was on with their financial support for nearly an hour to get a straight answer.b,121b,121Also note, if you have trust accounts, those are way different. If your bank fails the FDIC money goes to the1named beneficiaries, not to you (even if you are still alive). Fortunately they don't effect your FDIC calculations.b,121b,121As for pulling cash. Its not stupid per see, but if enough people do it, it can hasten the decline. Evidently capital flight was the main reason for the fast slide this week of WaMu. In any case, if you have 100K and are FDIC insured, you are golden.
  • SaracenusSaracenus 671 Posts
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    h,121
    b,121A good friend of mine has a buddy who's worked at WaMu for 8 years. He lost all his employee stock--%$45k worth. And he'll probably lose his job, too, but the former is much more disturbing to me.
    b,121
    b,121
    h,121
    font class="post"1b,121b,121I assume your buddy didn't have enough time in to fully vest and sell his stock?b,121b,121Usually there are delays on when you receive the full value of the employee stock and limits on when you can sell it. Worse, if the company gets first right of refusal.
  • SurrealistSurrealist 218 Posts
    /font1
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    h,121
    b,121A good friend of mine has a buddy who's worked at WaMu for 8 years. He lost all his employee stock--%$45k worth.1And he'll probably lose his job, too,1but the1former is much more disturbing to me.1
    b,121
    b,121
    h,121
    font class="post"1b,121employee stock is yesterday, and mutual funds are more like the1future...
  • SurrealistSurrealist 218 Posts
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    h,121
    b,121Anyone else use them?
    b,121
    b,121Anyone else nervous about their nut?
    b,121
    b,121Has anyone questioned their branch about being absorbed by JP Morgan?
    b,121
    b,121Is JP Morgan and Chase the same company?
    b,121
    b,121What questions should I be asking?
    b,121
    b,121Any recommendations (or alternatives) to banks?
    b,121
    b,121Does this crisis1affect Credit Unions, are they some how1safe(er) from all this?
    b,121
    b,121
    b,121My local branch was a mad house today at lunch. We were assured that not only we're we insured by the FDIC (up to $100,000 per account) but that the1absorbsion and changeover will be seamless and unfelt.
    b,121
    b,121Regardless, I wanted a little face time with one of the talking heads there but I had to get back to the1office. So I'm hitting them up after work, I just wanted to know what proper questions I should be asking (or if I should be shutting down accounts and riding the train with a knot in my thigh)?
    b,121
    b,121F*ck it, I'm gonna pull all my money out and blow1it at the1PUTS show tonight.
    b,121
    b,121"..act dumb / drink beers with bums / dig through the crates.."
    b,121
    b,121Oh yeah - I found this145 the1other day.
    b,121
    b,121
    object width="425" height="344"1
    param name="movie" value=""1
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    embed src="" type="application/x-shockwave-flash" allowfullscreen="true" width="425" height="344"1
    /embed1
    /object1
    b,121
    b,121
    h,121
    font class="post"1b,121b,121Good/Great Banks I recommend:b,121b,121Bank of America...it's better than Chaseb,121Northern Trust...more for trust funds and savings, but they have checking b,121b,121Banks I wasn't as impressed with that might merge w/1other banks:b,121b,121Wells Fargo (because of all the mortgage businesses they were involved in and it's not strong on the1east coast)...it's stronger on the west, where a large percentage of foreclosures and subprime deals took placeb,121b,121Wachoviab,121b,121Capital One
  • Ex-BoyfriendEx-Boyfriend 795 Posts
    bank deposits are insured up to $100,000 by the federal government. None of YOU have any reason to worry at this point in the game.
  • skelskel You can't cheat karma 5,033 Posts
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    h,121
    b,121
    b,121Good/Great Banks I recommend:
    b,121
    b,121Wachovia
    b,121
    b,121
    b,121
    b,121
    h,121
    font class="post"1b,121b,121People, don't do this at present.b,121b,121JPMorgan Chase ain't going down, you can rely on them.
  • The_Hook_UpThe_Hook_Up 8,182 Posts
    yeah, they might be insured, but I think the way the insurance is written they may have up to 99 years to repay you
  • 4YearGraduate4YearGraduate 2,945 Posts
    Dude, did you go to the show?b,121Should've hollered!
  • SurrealistSurrealist 218 Posts
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    h,121
    b,121
    b,121Good/Great Banks I recommend:
    b,121
    b,121Wachovia
    b,121
    b,121
    b,121
    b,121
    h,121
    font class="post"1
    b,121
    b,121People, don't do this at present.
    b,121
    b,121JPMorgan Chase ain't going down, you can rely on them.
    b,121
    b,121
    h,121
    font class="post"1b,121b,121b,121Sorry, but you cut and pasted it wrong...no big deal though...I actually said I don't recommend Wachovia, which is probably the next bank that will collapse...
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