Man, can't believe what's going on this week on Wall Street.
Now WaMu is up for sale.
Should I be worried if they don't find a buyer?
Should I move my money right now to another bank?
If so, any recommendations?
I have an account at Bank of America already.
Might be doing that.

yeah?
glenn what should we do?

i need a coffee can like missy

So long as you don't have over $100,000 in cash you should be fine but if you can move your money to another bank easily it is not a bad idea.

any one use credit unions? we have one here for the entertainment industry but i know zero about them.

over here they have been suggesting that is you have more than (I forget, cuz i don't) either £25k or £35k in any one bank, to spread it out to others as that is all that's guaranteed if the bank decides to declare bankruptcy.
Scary times.

I just took my wamu account down to one dollar. Had to switch two accounts from their lately, my business account I use sees about 20-30k in checks going through it and they never put holds on it until recently for a week at a time. Really worried me considering they are in trouble so I just switched accounts, why wait if you have a sort of heads up. Thats like if IndyMac let people know they would have closed their accounts too more than likely.

Hearing bad things about CitiBank and Wells Fargo as well. Worries me, as my house is with one and all accounts with the other.

A Citibank collapse (which I haven't read anything about - have you got a link to a story on it?) would be the sledgehammer that broke the camel's back. It's the sort of thing that could send world financial markets into a tailspin. Ugh, things are really snowballing on Wall Street, but I don't even want to think about one of the top 2 or 3 US banks going under...

No. I have been looking but haven't found anything.
This was just through a financial/stock advisor for a large local company that was advising them to stay away from Wells and Citi as he new they were in trouble.
I hope it is nothing.

Ah, I see. I guess he was speaking in terms of the stock price, which has been in free fall along with most other financials. I don't think anyone has reported either of those companies as being in trouble. The contrary, actually, as they've both been mentioned as possible buyers/merger partners for other firms (such as WaMu).

dude but as long as ur under 100k ur insured right? i heard tat from the news that the gov will insure as long as sum is under 100k check out cnn

After being subjected to several of your posts I would like to point out that the word is "that."
Thank you.

This is a great time to be poor! My worries are about the same as usual...food, booze, sex, sleep, repeat...

The writing was on the wall for this "adjustment", what with all the buying and selling of RxH lately, you investors should have seen it coming! Turmoil in the RxH & SB markets is always a precursor to big troubles on Wall Street (sofubi indicators)...if you see Bemons selling for $100, duck and cover!

Maybe tat letter between "G" and "J" don't work on 'is keyboard?

man.. thinking about closing my etrade account and using it to bankroll some poker this weekend

Actually, I've heard that Wells Fargo and Citibank are the lead bidders on a possible WaMu buyout.

Im betting this is a fake profile since most of us learn about the FDIC in 4th grade.

I think that is something you can actually bank on.

I have a WaMu credit card. I am sure if they got sold, they'd just erase my balance, right?

Bank of America just bought Merrill Lynch, so they're probably in good shape. That's who I use.

There was a comedian I saw a couple of months ago who did a great gag about WaMu. How it must be so tiring to say "Washington Mutual" more than once or twice a day.

"Where do you bank?"

"Washington Mutual."

"Where do you bank?"

"Washington Mu... (pufff... wheeze...) WaMu."

The rest of the gag was about how "WaMu" sounds like some big scary drug dealer in the 'hood who talks about himself in the third person. "WaMu wants to have a word with you. WaMu doesn't like what you've been saying about WaMu..."

(Guess you had to be there.)

lol
no wonder the banks are going under who puts someone called fanny and freddy in control of heaps of peoples money. And I heard another silly name, some big company Standovia...thats just taken' the piss!

I'm not sure who's show I was watching on CNN but they were saying they had inside information that Citi might be in trouble. Who really knows? I wouldn't make a lot of it until more information starts showing up. I do know that WaMu is having troubles and it's not looking good for them. I would also agree that if you can easily move to another bank I would. It's better not to put yourself at risk. This is some scary shit going down. Each day the news has been like this is terrible but it's not the worst and then the next day something even more insane happens. I'm really scared to see what happens tomorrow. I really hope the people in charge start taking this shit seriously. Normal people are falling further and further down.

Yeah, wow. So I found out about WaMu as I was driving back home from Phoenix. Stopped to call my wife after 16 hours of driving and heard that our bank had been taken over by the Feds. That made for a restful night at the Holiday Inn Express! So I got back to Portland the next afternoon and went straight to the bank to close my two savings accounts with WaMu. Took the cashiers checks to a Credit Union that I had another account with and deposited them there. Feel a bit better now, but am still worried about a complete collapse rendering the dollar worthless regardless of what banks it's in.
Also was happy to learn that AIG had to be bailed out to the tune of $85 billion - that's who's managing my retirement account!
So who wants to buy a couple Bemons? (This is a joke, don't PM me about this...yet.)

Citibank should be fine. My bro working there mentioned that they got trillion of reserve. They should be fine and could even make a fortune for helping the liquidation of other big one.

Funny, there are so many people line up at the customer center of AIA (in aisa) to cancel the insurance plan, investment plan. Up to now, around 2000 people cancel their plans in 2 days.

US banks are screwing with my conversion rates.

Stop making my aussie dollar weak against the greenback please.