WAMU is not going under! (loans, credit card, debt, mortgage)

[Freebird2007]

-Wamu is 10 times bigger than Indymac
-wamu has more business lines besides mortgages
-Wamu is writing off less loans than anticipated
-Fed is now going to provide a plan to take over the bad debt
-largest thrift bank with a large nationwide network of banks (unlike Indymac)
-assets (not deposits) are huge
-depositors assets are over $140 billion



So if you want to be like the other misguided people and jump off the bridge too just because someone told them to, then go ahead withdraw your money. Keep this in mind....FDIC has over 1000 banks on its list (WAMU isn't one of them) so the next bank you deposit your money into might go belly up as well.

[Humboldt1]

WAMU is being encouraged to sell. Citibank may be the buyer. What do others think?

[heydade]

Well, now that the government is buying all bad mortgage debt from the banks...duuh....

[70Ford]

Lesson learned:

It's good to be irresponsible?

[evilnewbie]

Originally Posted by 70Ford

Lesson learned:

It's good to be irresponsible?

Unless you are a taxpayer...

[BankREO]

They will be purchased. The problem is they have $19 billion in bad loans by some estimates and $3.4 billion in market capitalization.

[Humanoid]

WaMu is insolvent, they will shortly be bought by another firm for almost nothing or the FDIC will take the over. The failure of WaMu doesn't cause the same problems as the failure of Lebman, etc does. But the FDIC doesn't have enough man power to effectively close the bank so it will be interesting to see what they'll do. Other companies seem about as interested in buying WaMu as they are buying a pile of dog poo.

There are far better places to put your money than WaMu.

Citibank may not even be around in a year, they are in no position to purchase a failing bank. Not unless they give a sweet government deal of course...

[70Ford]

I thnk he works for MaMu, bro. Read some of his posts...like...the last 3 or 4 of them.

...all supporting Wamu 'cuz it's so kewl - N- Stuff.

Blech.
*******************

Here's a gem from one of his prior posts....

actually Saddam Hussein caused this war. how old are you? 14?

I'd post a "FAIL" picture...but the mods would just delete it.

[70Ford]

I'm going to go out on a limb here and say, WaMu will definitely fail. And be sold for 1.9 b billion to J.P. Morgan Chase.

Yeah. I'll do that.

[Flamingo13]

WaMu still continuously sends out credit card applications! What's up with that?