Washington Mutual Bank Fails

Discussion in 'Politics, Religion, Social Issues' started by rdowns, Sep 25, 2008.

  1. rdowns macrumors Penryn

    rdowns

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    #1
    Largest bank failure ever.

     
  2. Teh Don Ditty macrumors G4

    Teh Don Ditty

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    #2
    EPIC FAIL!

    I bank there, well now the FDIC until Chase takes over. I never had a problem with them and their online savings account was paying a good rate. Currently 3.93/4.00.

    Sad to see them go to be honest, but that's what happens when you back ***** paper.
     
  3. iShater macrumors 604

    iShater

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    #3
    What's gonna happen to those crazy commercial with the "bankers"? :eek:
     
  4. Mindflux macrumors 68000

    Mindflux

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    #4
    I wonder if this is why my escrow check hasn't cleared the bank yet. Farking WAMU!
     
  5. thechidz macrumors 68000

    thechidz

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    #5
    I was told that this was going to happen, I guess I'll be banking through Chase now?
     
  6. Teh Don Ditty macrumors G4

    Teh Don Ditty

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    #6
    You won't be banking at Chase for a bit. The FDIC is currently in control of it until Chase can take over and change over computer systems all that jazz.
     
  7. rdowns thread starter macrumors Penryn

    rdowns

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    #7
    If the largest bank failure can happen and be sold so quickly, is the $700 billion bailout the way to go or should we be dealing with these crisis one by one?
     
  8. thechidz macrumors 68000

    thechidz

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    #8
    well their website is still up and I have access to my account so I'm not freaking out yet.:rolleyes:
     
  9. Teh Don Ditty macrumors G4

    Teh Don Ditty

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    #9
    What really gets me is that once again Chase comes in and essentially gets a company on the cheap. The Federal Gov't is taking a large chunk of the crap while Chase pretty much comes away clean.

    To address your original question, not a fan of the $700 billion bailout. No possible good can come from this if it is rushed.

    I do too. It's not going anywhere. You're FDIC ensured, it'll be like nothing happened.
     
  10. iShater macrumors 604

    iShater

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    #10
    They are basically robbing Peter to pay Paul, where

    Peter - is the hardworking tax payer
    Paul - the Wall Street crooks


    :rolleyes:
     
  11. Teh Don Ditty macrumors G4

    Teh Don Ditty

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    Honestly, are you surprised?

    Surprised?
     
  12. majordude macrumors 68020

    majordude

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    #12
    Thoughts:

    1. Wamu gave $14 accounts away for free. And they are broke? Duh!

    2. Their ads catered to dreamers, the poor and the cheapskates. And they are broke? Duh!

    3. America doesn't recruit the best and brightest from the world but instead we literally proclaim (via the Statue of Liberty trojan horse)... "Give me your tired, your poor, your huddled masses yearning to breathe free, the wretched refuse of your teeming shore. Send these, the homeless..."

    And America is broke? DUH! :mad:
     
  13. iShater macrumors 604

    iShater

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    #13
    Please share some of what you are smoking, since the rest of the world (and what I infer from your comment immigrants?) are the reason for the current crises. Sheesh. :rolleyes:
     
  14. joepunk macrumors 68030

    joepunk

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    #14
    But the big question is who's going to sponsor the 4th of July fireworks here in Seattle? ;)
     
  15. majordude macrumors 68020

    majordude

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    #15
    Illegal immigrants getting bank loans for houses. Yes.

    (And I'm smoking a nice Montesino cee-gar from another third world nation.)
     
  16. Teh Don Ditty macrumors G4

    Teh Don Ditty

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    #16
    That would require them having social security numbers. If they don't have SSN's you can't apply for a mortgage. Falsifying loans with fake SSNs is highly illegal. Internal compliance officers would've caught that.
     
  17. rdowns thread starter macrumors Penryn

    rdowns

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    #17
    Where'd you get this? First I've ever heard of anything like this. Sounds like BS to me.
     
  18. Teh Don Ditty macrumors G4

    Teh Don Ditty

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    #18
    That's what I was getting at it my above post.
     
  19. iShater macrumors 604

    iShater

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    #19
    So you deduced that illegal immigrants came here to take bank loans to buy houses, even though they don't typically have even checking accounts or proof of employment or assets to back it as collateral and our banks just fell for it and woke up last year to bad mortgages?

    That is some good cigar ;)
     
  20. majordude macrumors 68020

    majordude

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    #20
    You trust the people in power waaaaaay too much. The real estate and mortgage scandal will far surpass Enron, energy, or the Savings and Loan scandals before it is all over.
     
  21. PlaceofDis macrumors Core

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    #21
    i saw this coming.
    who's next?

    looks like two major banks will be left: Chase and BoA.
     
  22. Teh Don Ditty macrumors G4

    Teh Don Ditty

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    #22
    Not really, I was just being logical that's all.

    In order to pass off a loan without a proper SSN, it would have to go through way too many people and they'd all have to be in on it.
     
  23. GSMiller macrumors 68000

    GSMiller

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    #23
    Glad I didn't get that WaMu Visa.

    They dropped that campaign a while back didn't they? Now it's of people yelling "Wooooooooo Hoooooooo!" because banking is so easy with WaMu (according to the commercials, I've had no personal experience with WaMu).
     
  24. iShater macrumors 604

    iShater

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    #24
    CitiBank, Wachovia (might be next thought), Wells Fargo, and a few more big players left. Of course we have banks like Harris Bank which is owned by Bank Of Montreal, RDS, and a few other internationals.


    I don't have a TV weekdays :eek:
     
  25. majordude macrumors 68020

    majordude

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    #25
    Look, I'm gonna leave this thread because it will just piss me off and you won't believe me anyway. :rolleyes:

    But just think of this...

    - We invade sovereign foreign countries and involve ourselves in wars our Founding Fathers told us not to get into.

    - We act like we are supposed to convert the world to free elections, freedom and democracy. We are a representative republic at best, and not a democracy. There is a difference. And our meddling leads to Hamas and others (our enemies) getting into power.

    - We say we are capitalists but we are fascists. Big business owns the government.

    - We say we believe in a free market system but the government intervenes to protect Big Business.

    - "We the People" are going bankrupt and losing our homes in record numbers but there was never a talk of a bailout. Yet the bankers who own those deeds, get bailed out.

    - Some say we are a Christian nation and the Founding Fathers were inspired by god... yet the bible never spoke of democracy or voting rights. As a matter of fact, god doesn't care what you think and even his country ("Heaven") has immigration rights (you can't get in just because you want to)... and it's a kingdom, the very thing we say he told us to overthrow.

    - The Founding Fathers wrote the Constitution and Bill of Rights with rich white male land owners in mind. Start with that as a premise for what is going on now with Wall Street.

    - There are some who want a one-world government to make it easier to screw and control you. This is why there is an EU, will be a North American union, and China all but has asia. If we had one government, the story will go, we won't have these economic melt downs.

    - To my Christian friend's, the Rapture isn't a viable retirement plan. Don't plan on Jesus taking you out of here before you are waiting in long lines for hot water soup.

    - When West Germany absorbed immigrants from East Germany their economy suffered. We are absorbing Mexico and our economy suffers.

    - The people running for office (at any level) have more in common with each other than with you.

    - We are devolving, not evolving. Thousands of years ago we could make pyramids of stone that we still can't figure out how to cut, move or stack. And now, many years later, we can't make change at a cash register or use our turn signals on city streets.

    And yes, this is a damn fine cee-gar! :p
     

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