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Lol... there are plenty of banks that have been doing pretty well given the market... Chase, BoA, Wells Fargo... and a lot of smaller relatively unknown banks... etc. etc...
If I am under the insurance limits why would I have to withdraw the money? If WaMu goes under the FDIC will shut it down on a Friday and it will open up Monday under control of the FDIC or another bank. Thats what happened with Indymac and the other banks that were taken over by the FDIC. People are seriously overreacting.
I guess you like to wait in line for hours in the cold and at night and then later screaming and yelling at people all day long... or you can drop by and pull out your money in five minutes... I guess you rather wait and let the bank fail and then go through all that... no thanks... many of us would rather not and I would NEVER advise them to go through that...
chicken littles versus a man/woman in the line waiting for hours to pull out the money lining up in the middle of the night and waiting for hours... there are PLENTY of banks around... I rather spend 5 minutes and than 5 hours in the dark...
I guess you like to wait in line for hours in the cold and at night and then later screaming and yelling at people all day long... or you can drop by and pull out your money in five minutes... I guess you rather wait and let the bank fail and then go through all that... no thanks... many of us would rather not and I would NEVER advise them to go through that...
I don't under why I would have to stand in a line if I wasn't withdrawing any money? My account is insured and the FDIC or the new bank will continue to pay me interest on my deposit.
You are right, that's why the people at IndyMac didn't wait in line to withdraw their money when its better to just leave it there... which is what 99% of people would do... paying bills is overrated anyways..
I disagree. If my bank goes under...it causes me stress. That stress leads me to find out where my money is. That finding leads to a loss of time while I find out where and how to get my money.
"Oh! It's covered by the FDIC!"
"What does that mean?"
Oh, you don't know what that means for my bank? ME NEITHER! Now, I have to find out. Which takes time. My wife is asking me, "Where is our money? Can the children eat school lunch tomorrow, or should I pack a sack lunch? Does our debit/credit card work? What if they say they "Didn't get our deposit?......No one is asnwering the phones!! They say they haven't got the money!! Our credit is going to be ruined!!!"
I see this will take no time from your life. I estimate it would take multiple hours from mine. I estimate my time at $100 bucks an hour. What is your time worth?
A dollar? 2 dollars? 25 dollars? I have about 35 years or so left on this planet. I hate when someone wastes my time.
They are wasting someone's time. Not mine..I don't bank with WAMU. But they are definitely wasting someone's time.
And just where are you going to go with it ? National Bank of the First Mattress ?
If you don't know what the FDIC coverage means then you should go and find out.
chicken littles versus a man/woman in the line waiting for hours to pull out the money lining up in the middle of the night and waiting for hours... there are PLENTY of banks around... I rather spend 5 minutes and than 5 hours in the dark...
put this in another thread but long story short I have 2 wamu accounts, one has a negative balance. I assume if they just went under I would have the opposite of others problems and just not owe the money back (or if they get bought out, I might owe this new bank the money). Either way I was paying it back but curious if I get just get away with it
I like my credit union... and there many other credit unions as well.. take your pick..
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