WaMu is largest U.S. bank failure

Sep 25, 2008 | Posted by: Iria | Full story: news.yahoo.com

Washington Mutual Inc was closed by the U.S. government in by far the largest failure of a U.S. bank, and its banking assets were sold to JPMorgan Chase & Co for $1.9 billion.
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21 - 29 of 29 Comments Last updated Oct 2, 2008
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Dinah

Monkton, MD

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#26
Sep 26, 2008
 
Well. I wonder how some people's bills will read now. Chase perhaps? I wonder what policies will change in their lending.

Also, I wonder if their ties with LA RAZA will be abandoned.
Lance Winslow

San Francisco, CA

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#28
Sep 26, 2008
 
Wachovia next.
Dinah

Monkton, MD

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#30
Sep 27, 2008
 
true conservative wrote:
<quoted text>
Good by free checking. They need to pay for this takeover somehow
That STILL doesn't answer my question, now does it. THAT is only one practice.
Fergiobebe

Estero, FL

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#31
Sep 27, 2008
 
At this time it is very important to understad that the FDIC will insure your money, but what you don't understand is that if the market collapses because we didn't get the bail out or any other help for wallstreet, it will be a process and an investigation that will take place before you can get any money back, its not that you call and say, "money back please and you ge your cash" , besides if the market collapses, millions of people will want their insured money back at the same time, this will produce even more delays. Simple you don't get your cash from your bank now and the FDIC will be dalayed how are you paying your bills?, not counting the unemployment rate? and the amount of people that are aplying for unemployment!.

If a bank is expecting a desicion from a bail out and seems that their desicions are based on that, means that the bank is very unstable economically.

good luck to all
NY Dr Spock

United States

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#32
Sep 29, 2008
 
You won't have to wait for your money because unlike the 30's where currency was backed by gold, we can now print up millions in a matter of seconds.

The downside to this of cost is what will your money really be worth? We are getting perilously close to a situation much like post WW2 Germany's hyperinflation.
NY Dr Spock

United States

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#34
Sep 29, 2008
 
true conservative wrote:
Now Citigroup is taking over Wachovia at a fire sale price. Bought and paid for with bail out money provided in the very first 400 billion dollar bail out DEAL. And the bank consolidation continues.
Does anyone remember the family farm consolidation (at fire sale prices), the media consolidation, the home ownership consolidation (at fire sale prices), and now the bank consolidation (at fire sale prices). Mr. Bush please stop stealing from the American Tax Slave.
Except this has nothing to do with President Bush. He is too stupid to know anything about economics. This has been brought to you courtesy of our esteemed Congress both your and mine Congressman.

Vote out all incumbents, New Faces Fresh Ideas.
Dinah

Monkton, MD

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#36
Sep 29, 2008
 
I find that both humorous and dangerous. NO ONE has bothered to take me up on the La Raza challenge.

Anybody but ME notice some common factors?

www.nclr.org
Dinah

Monkton, MD

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#37
Sep 29, 2008
 
By the way, Washington Mutual WAS on this list.
Are you Crazy

United States

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#38
Oct 2, 2008
 
true conservative wrote:
<quoted text>
Rockefellers
Then why don't the rockefellers bailout, oh, they want to keep their dinero in their own bank vault, I see!

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