Retch The Grate ([info]retch) wrote,
@ 2008-09-26 13:28:00
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Current mood: amused

Oh, hey, my bank failed.
Whoops.

n the largest bank failure in U.S. history, Washington Mutual Inc., with about $310 billion in assets, succumbed Thursday to the fallout from the subprime mortgage crisis, was seized by federal regulators and rapidly acquired by J.P. Morgan Chase for $1.9 billion.

Shouldn't affect my checking account. Heh.


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[info]gothfru
2008-09-26 08:39 pm UTC (link)
They used to be my bank. Then I experienced what can only be described as a colossal customer service failure. Now I have a diferent bank.

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[info]retch
2008-09-26 08:42 pm UTC (link)
heh, good timing on your part apparently.

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[info]ghost_girl
2008-09-26 08:53 pm UTC (link)
Noo0o0o, not WaMu! They were always so nice, with their no fee ATMs!

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[info]monkeequeen
2008-09-26 09:38 pm UTC (link)
Amused is so not how I'm feeling about all this... Sigh.

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[info]erf_
2008-09-26 11:35 pm UTC (link)
I guess it was only a matter of time before the Apocalypse on Wall Street started affecting ordinary people. :[

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[info]fenowyn
2008-09-27 09:28 pm UTC (link)
Yes, the biggest US banking disaster and I missed out on it by a hair's breadth.

They were the bank I had my mortgage with in LA. At that time I thought they handled my mortgage carefully and made thoughtful decisions. Because of that, I was *literally* trying to buy stock on Thursday night. I thought that although they were in trouble, it was probably just a very bad correction, and the worst was most likely over. The only reason I didn't buy was that I couldn't get the brokerage account funded quickly enough.

Lucky me, because when I signed on to see if I could buy stock, the value was at $0.00, which after a split second of buy-buy-buy thought, I realized they must have closed trading, and then I read the news. The after-the-fact articles talked about the bank's behavior since I quit using them, and evidently they did go from their conservative approach to massive stupidity, like much of the rest of the mortgage industry in the last two years.

Yes, procrastinating saved us probably a thousand dollars.

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