WaMu folds

[Bubbler]

Sorry if this is a D_B, but I just read on the AP that Washington Mutual folded.

 

[Freelance Hack]

So how far does the Dow dip tomorrow? 200? 300?

 

[Bubbler]

Great Depression II: Electric Boogaloo!

 

[KevinmH9]

So how far does the Dow dip tomorrow? 200? 300?

A couple hundred, for sure.

 

[Angola!]

Yeah, I was just reading a story on Yahoo! about the GOP revolting over the bailout package. I didn't understand a lot of it, but it included that WaMu folded.


http://news.yahoo.com/s/ap/20080926/ap_on_bi_ge/financial_meltdown

 

[Clever username]

But they have free checking accounts!

 

[newgrad2008]

For personal reasons, I hope it doesn't happen, but I can see the Dow dropping 600 or 700 tomorrow between WaMu folding and this bailout stall crap.

 

[Angola!]

Here's the WaMu folding story:


http://news.yahoo.com/s/nm/20080926/ts_nm/us_washingtonmutual_jpmorgan_news

 

[shockey]

cool. does this mean i don't have to make any more mortgage payments? ??? ???

 

[mike311gd]

Do I still owe them money?

 

[Steak Snabler]

Woo hoo! Does this mean my credit-card debt with WaMu is hereby canceled?

 

[Clever username]

Washington Mutual Inc. was seized by the Federal Deposit Insurance Corp. in the largest failure ever of a U.S. bank, after which JPMorgan Chase & Co. Inc. came to its rescue by buying the thrift's banking assets.

Nope, yup and nope. You just owe somebody else now.

 

[RedSmithClone]

So no more awesome commercials?

DAMN!

 

[Pete Incaviglia]

Do I still owe them money?

No. You owe JP Morgan. They gobbled up WaMu. Apparently, your account number won't even change. Business as usual, which is why I think the Dow doesn't plummet tomorrow.

 

[KevinmH9]

I've been trying to keep up with the business pages of the newspaper, CNN and such; but I'm worried that I won't be able to attain any college loans for school next year as a result of all this crap.

 

[Steak Snabler]

I've been trying to keep up with the business pages of the newspaper, CNN and such; but I'm worried that I won't be able to attain any college loans for school next year as a result of all this crap.

You do know the difference between Sallie Mae and Fannie Mae, correct?

If he does, he's one step ahead of Sarah Palin.

 

[BYH]

Great Depression II: Electric Boogaloo!

Great Depression II...There's No Stopping Us Now!

 

[Freelance Hack]

Buck,

There are other student loans out there besides Sallie Mae.

 

[shockey]

Washington Mutual Inc. was seized by the Federal Deposit Insurance Corp. in the largest failure ever of a U.S. bank, after which JPMorgan Chase & Co. Inc. came to its rescue by buying the thrift's banking assets.

Nope, yup and nope. You just owe somebody else now.

this is just not right. i mean, if i can't pay my mortgage, the bank forecloses, right? so if the bank giving me my mortgage is so effed up enough to go under, why shouldn't they have to eat my mortgage?

i mean, fair is fair. wamu bit off more than it could chew, which is what those who end up foreclosing have done, correct?

i'm just sayin'.... : : :

 

[Steak Snabler]

Great Depression II: Electric Boogaloo!

Great Depression II...There's No Stopping Us Now!

Tagline: Now the banks are failing for a reason ...