washington mutual

Date: Thu Sep 25 8:43 PM, 2008

washington mutual

Date: Thu Sep 25 8:45 PM, 2008

what?? I bank there. Whats goin on??? confused

Date: Thu Sep 25 8:51 PM, 2008

They were bought by JP Morgan....its on the Yahoo news reel, I am confused too, it said they will be open as usual on Friday so I am grabbing my money and running. What about gyms that bank there!

Date: Thu Sep 25 9:18 PM, 2008

the gov't will pay people their money back up to 100,000 dollars. if you have over a 100,000 in the bank i dont think that you get the remainder, just the original 100k. but its still a good idea to switch to a steadier bank.

Date: Thu Sep 25 9:34 PM, 2008

Customers should expect business as usual on Friday, and all depositors are fully protected, the FDIC said. This is really not new news since the government stepped in to take it over and now it sold it to JP Morgan. People do not need to take thier money and run it's safe. It's not the 1930's where panic caused a run on the banks. Also the transaction will not affect its roughly $45.2 billion deposit insurance fund. This is part of the govenment bail out of the banking industry. This vaults JPMorgan past Bank of America Corp to become the nation's second-largest bank, with $2.04 trillion of assets, just behind Citigroup Inc. Bank of America will go to No. 1 once it completes its planned purchase of Merrill Lynch & Co.

Date: Thu Sep 25 10:21 PM, 2008

I am so angry. What a mess this country is in. George Bush should have to account to the American public for what he has allowed to happen to this country.I just wonder how many of our kids will still be in cheer come worlds time.

Date: Thu Sep 25 10:30 PM, 2008

Anonymous wrote:

I am so angry. What a mess this country is in. George Bush should have to account to the American public for what he has allowed to happen to this country.I just wonder how many of our kids will still be in cheer come worlds time.

It's not his falt.....it's the lenders who allowed people to take loans on houses they they could not afford.....it's the CEO's who wanted the big fat wallets and their boards who were not in control....it's the US Congress and US Senate who has the power to change the way Wall Street operates! You blame them also!!!!

Date: Thu Sep 25 10:39 PM, 2008

Of course it is easy to blame the President, yet have you ever charged something you knew that you could pay for? Many of us have, if you live in debt you are also guilty of the current economic situation. When I was growing up my parents pretty much paid cash for everything. I can probably count the number of times they put something on their Dinner's Club card...haha, but really it taught me to never buy anything I could not pay for within the same pay period or month. For me I feel that alot of people feel that they need to live out of their means to impress others. I feel so badly that so many people live paycheck to paycheck and credit card to credit card. It is so extreme. Sadly enough cheerleading is an added extra and many people try to afford it to make their kids happy.

Date: Fri Sep 26 6:47 AM, 2008

Right, you can blame the people who bought homes with an unbelievably low interest rate who didn't realize for whatever reason that it was too good to be true and would change in the near future. You can also blame the Republicans for deregulation (McCain is a huge supporter of no regulation) which also means no accountability apparently. That will all change very soon.

Date: Fri Sep 26 7:12 AM, 2008

Anonymous wrote:

Right, you can blame the people who bought homes with an unbelievably low interest rate who didn't realize for whatever reason that it was too good to be true and would change in the near future. You can also blame the Republicans for deregulation (McCain is a huge supporter of no regulation) which also means no accountability apparently. That will all change very soon.

You are absolutely right on this one. You need to start blaming those people that took those "too good to be true" loans. I am having a hard time to believe that these people were that naive or didn't educate themselves enough on the types of loans that were available. Hello????

Now the government is having to step in passing bills that allows everyone to walk away from their home loans, after these people took out seconds, thirds, bought new cars, motorcycles, boats, filled their new homes with furniture, etc. So, they walk away from their obligation, but yet keep all their newly accumulated "toys" for FREE. People definitely "worked" the system no doubt about it. I'm sorry but I have watched people work this system and they worked it well.

The sad thing about this bail out. The government is rewarding these criminal acts. The government is saying walk away from your house loans and then reenter back in 2 years, because after all it really wasn't your fault when you signed that zero interest home loan, or that zero interest for 3 years and then you will pay double loan.

Let me just say, if you can't qualify for a 30-year fixed rate the home is out of your affordabililty levels and you need to look for a less priced home.

Date: Fri Sep 26 7:33 AM, 2008

Anonymous wrote:

the gov't will pay people their money back up to 100,000 dollars. if you have over a 100,000 in the bank i dont think that you get the remainder, just the original 100k. but its still a good idea to switch to a steadier bank.

a family of 4 can structure their accounts to be protected up to 1.4 million dollars. the people worried are the ones who only have last weeks paycheck in the bank. anyone having more than $100,000 are smart enough to know how to structure the money, if not they received some terrible advice. Uneducated people are the ones rushing the banks and making the problem worse. We are in this situation because the liberals think it is a god given right to own a house, not the case. Oh and by the way Bill Clinton signed the bill that relaxed the guidelines for Fannie and Freddie Mac to allow low income and illeagal aliens the ability to get a mortgage. It all boils down to PERSONAL RESPONSIBILITY!!

Date: Fri Sep 26 7:39 AM, 2008

You are fine. WAMU is now owned by JPMorgan/Chase. Money is there (via Chase) and protected by the FDIC. http://www.chase.com/welcomewamu/

Date: Fri Sep 26 7:41 AM, 2008

I agree with this, it is about personal responsibility. However huge businesses and ridiculously high paid executives shouldn't have been allowed to make loans to people they knew darn well couldn't pay them off but knew the government would bail them out as they always do. They are in the business of making good loans, so why reward them for making the bad ones?? They are walking away from this free and clear, and that's not right. I do believe they took advantage of the less fortunate. How many of you have signed a multi-page contract without reading every single detail? Most of us are guilty of this. I remember getting things in the mail saying we could lower our house payment to some amazingly low number. Now I knew it was too good to be true, and I'm not saying the people who didn't shouldn't be responsible for their poor decisions. But let's share the responsiblity all the way around. Republicans want the government to stay out of big businesses (no regulation) and this is what happens... the rich just the richer, and the rest of us pay the price. It is time for this to end.

Date: Fri Sep 26 9:03 AM, 2008

I believe people should have personal responsibility, AND I think big business lost control in their quest to make money hand over fist. Have seen two friends lose their houses so far to foreclosure all the while shopping, vacationing, and paying for lots of cheerleading and privates as if there would never be a bill to pay. hmm

Date: Fri Sep 26 9:33 AM, 2008

All this talk about personal responsibility and people shopping and spending money on top of loosing thier houses, etc. etc.. How can any of you stand judgement over anyone else. I would be nice if life where so cut and dry. You know nothing of what that person(s) has gone through. Yes people can make poor decisions, but you do not know what may have led them to making them. Someone may have lost their job, illness in the family, struggling in a overpriced area to make ends meet, just trying to get by feed their family. Sorry I put the blame completely on the lenders whoose unsafe lending practices caused this mess. You can also put the blame on home owners who got greedy and where out to make those big bucks. It was greed plain and simple. Am I for the government bail out. With mixed feelings I say yes. I worry if they don't more people are going to hurt when they start loosing their jobs and the ecomony gets even more depressed. Thats when it is not going to matter who is responsible, but what do we do know.

Date: Fri Sep 26 9:47 AM, 2008

Anonymous wrote:

I believe people should have personal responsibility, AND I think big business lost control in their quest to make money hand over fist. Have seen two friends lose their houses so far to foreclosure all the while shopping, vacationing, and paying for lots of cheerleading and privates as if there would never be a bill to pay.

LOL those darn cheer parents. They get blamed for everything. Now we get to blame them for the failing ecomony... biggrin

Date: Fri Sep 26 12:47 PM, 2008

What disgusts me is, I still live in my little tiny house (which I can afford). I am not stupid enough to take one of those silly loans but I am sure I will be the one that is taxed more to bail all the idiots out (both the lenders and the people who can't budget their money). So because I am a practical person, I get screwed.

Date: Fri Sep 26 12:57 PM, 2008

Anonymous wrote:

All this talk about personal responsibility and people shopping and spending money on top of loosing thier houses, etc. etc.. How can any of you stand judgement over anyone else. I would be nice if life where so cut and dry. You know nothing of what that person(s) has gone through. Yes people can make poor decisions, but you do not know what may have led them to making them. Someone may have lost their job, illness in the family, struggling in a overpriced area to make ends meet, just trying to get by feed their family. Sorry I put the blame completely on the lenders whoose unsafe lending practices caused this mess. You can also put the blame on home owners who got greedy and where out to make those big bucks. It was greed plain and simple. Am I for the government bail out. With mixed feelings I say yes. I worry if they don't more people are going to hurt when they start loosing their jobs and the ecomony gets even more depressed. Thats when it is not going to matter who is responsible, but what do we do know.

Sorry but I am going to blame some of this on personal responsiblity.

People were living "high on the hog" and buying this and buying that and raking up huge credit debt. Yet never thinking or ever worrying about paying the money back. Nothing is free people.

okay true some people lose a job or fell ill to lose their jobs however this is nothing knew and this has happened throughout life and it will happen on a continual basis forever.

here is were i continue to lay blame at a personal level, when the "times were good" these people didn't save their money for the 'rainy day'. They thought the day would never come. Sorry but that day/year as come.

now we (those that have done the right thing, but living within our means) are asked to bail out this big OOPS!!! Personally, i'm tired of bailing out those that didn't educate themselves on loan options, those that take advantage of situations by running up huge amount of debt to buy their toys, take trips, and whatever. Enough all ready. hundreds of thousands of people received "stimulus checks" back in april and may. Did this help the economy? No! and yet there were hundreds of thousands that didn't receive a "stimulus check",still making sure the mortgage is paid and dinner is on the table every night.

I know people say times are hard and their are no jobs out there. I think that is just an excuse. I currently work 2 jobs by working 7 days a week. And just for kicks I experimented to see if I could walk into establishments to get hired. I was offered 4 different types of jobs on the spot and each job was offered with benefits. Employers are looking for people to employ however they are telling me that people aren't applying.

I think it's time that people stop complaining about the problem and start looking for the solution. Start working America! Start working!

Winner do what Losers won't!

Date: Fri Sep 26 3:17 PM, 2008

tips for 2008

With all the turmoil in the market today and the collapse of Lehman Bros and Acquisition of Merrill Lynch by Bank of America this might be some good advice. For all of you with any money left, be aware of the next expected mergers so that you can get in on the ground floor and make some BIG bucks.

Watch for these consolidations in later this year:

1.) Hale Business Systems, Mary Kay Cosmetics, Fuller Brush, and W R. Grace Co. Will merge and become:
Hale, Mary, Fuller, Grace.

2.) Polygram Records, Warner Bros., and Zesta Crackers join forces and become:
Poly, Warner Cracker.

3.) 3M will merge with Goodyear and become:
MMMGood.

4. Zippo Manufacturing, Audi Motors, Dofasco, and Dakota Mining will merge and become:
ZipAudiDoDa .

5. FedEx is expected to join its competitor, UPS, and become:
FedUP.

6. Fairchild Electronic s and Honeywell Computers will become:
Fairwell Honeychild.

7. Grey Poupon and Docker Pants are expected to become:
PouponPants.

8. Kn otts Berry Farm and the National Organization of Women will become:
Knott NOW!

And finally...

9. Victoria 's Secret and Smith &Wesson will merge under the new name:
TittyTittyBangBang

Date: Fri Sep 26 4:44 PM, 2008

Yeah! Thanks for the humor. All this financial/political bickering was upsetting my tummy.