bank problems

K

kitkat

sarNie Elites
I know it might be stupid but I'm worried about my bank Washington Mutual (WaMu) being closed... I planned to transfer it to Bank of America (BofA) today but before I do, I still am waiting for my refund from Amazon marketplace which it'd be next week so if I transfer it now and change my Amazon's payment method with a new BofA card, will the refund go to a new account, right?

Seriously, I wonder why did I register WaMu for... I think at that time, I used to live near 'em til I moved out to a new place and BofA just happened to be there like 10-minutes walk so I didn't think that it's necessary to transfer til now, look at WaMu falling down!! D;
 
ChenrukNote

ChenrukNote

Goddess
If the amount you have in your bank account at WaMu is under $100,000 then don't be alarmed since it's FDIC insured. However, if it's over that much amount how about you transfer some to me? :lol:
 
K

kitkat

sarNie Elites
^HA! Like I ever would, lol.

Damn, that was close for me 'cause I'm almost at WaMu's FDIC amount, though... I better transfer it before too late. I've contacted to Amazon help center regarding refund, it seems like it'd not go through a new card so luckily, I talked with a refunder and she'll send me a money order instead so now, I'm less-worried over this. Sorry to bother you with this "lame" question. ^^;
 
B

BaBeeLaiLai

BaBeeLaiLai
Just close your wamu account and open a elsewhere...Im with Wamu too, Im about to close my account and go to Wellsfargo.
 
K

kitkat

sarNie Elites
^My friend told me that WaMu likely will be on sale (auction) starting today and tomorrow. Wells Fargo and Citibanks might have interests to buy it out so WaMu wouldn't be any bankruptcy problem... but I'd rather close it to get a new bank for a precaution. ^^;
 
7270

7270

7270
i wouldn't rely too much on our FDIC at the moment given our economic status. plus, it'll just be a hassle. switch out as soon as you can.
 
marduk

marduk

Sarnie Clown!
You guys aren't going to lose your money. True, WAMU may hold more assets than what the FDIC currently have on hand, but if it comes to that, the federal regulators will most likely just use funds backed by tax to provide what FDIC would need to cover. There's absolutely no way the federal government would allow the FDIC to fail at its job. If that was even a possibility it would cause pandemonium on such a ridiculous scale.

Now, I'm not going to tell you what to do with your money, but I do want to say that all the fear expressed on here is what is contributing to WAMU's demise. Since everyone is all afraid, they're taking money out of WAMU. When that happens, WAMU can't get funds fast enough to cover everyone and poof, they're done like Lehman Brothers and Bear Stearns.

So like Nai said, unless you have over $100,000, I wouldn't worry about it so much.
 
noungning

noungning

Heartless
wow yes, like monkey boy mike-o said there... i wouldn't be too concerned. if my money is less that $100k.
 
7270

7270

7270
the FDIC has about $43 billion in reserves. when WaMu goes bankrupt, it'll take about $180 billion to cover... yeah. of course, the govt. won't allow it. what they'll do is generate more money out of nothing & dilute the U.S. dollar even more. money don't come out of thin air, people. when other nations stop loaning to us, we'll be in a very interesting situation.

we're already $9 trillion dollars in the hole. all i can see is hyperinflation on the horizon and a lot of bankrupt american people. people will have their $100,000, but it sure isn't going to be worth that soon. better trade in nominal assets for real assets now, while it's worth something OR when nominal assets do go down in value, just hold onto it until our economy blooms again, although that'll be hard when you're shelling out $10 for a loaf of bread. just a prediction. don't freak out. :lol:

the bright side of all this is maybe the corrupt politicians will go "bye-bye" after the US govt. collapses (after hyperinflation no longer bailing the govt. out and having to turn their backs on world loaners), we'll have more legit corporations and ways of living.
 
noungning

noungning

Heartless
oh please... US running out of money? they'll just print more money to increase the flow of cash as they've been doing to lead our economy into the hell hole.
 
ijohn

ijohn

sarNie Adult
tangible assets will always have value unless they are in Baghdad---lmao---truth is if the US government goes broke then all those little green backs you have stuffed in your mattress are worthless... my money is in ING bank and i'm not to concerned for the money atm because i know i'm good at what i do so no matter the currency i'll make more... the banking industry atm seems to stink from all the deregulation and speculation in nothing real thats what put us in this economic trouble,,, but as a nation i still have faith we Americans will re-invent our wealth in something else to make the world still want a piece of the American dream... even if we are in the middle of a bad nightmare things can only get better so invest in the market while you can and make a bundle on other peoples fears cause when people worry they eat so invest in McDonald's or Burger King and oh yes they drink to so invest in alcohol and beer stocks too---lmao

ps.oh yeah forgot to say them worry warts are gonna smoke so Phillip Morris USA may be a good bet :D
 
noungning

noungning

Heartless
7270 said:
it's just a prediction. don't bite me. :lol: you can nibble. :p
Click to expand...
um pass...

but prediction, speculation, rumors and etc are the beginning to failure. how about we try to hold a positive thought that some day, just some day, we will all be out of debt and live in paradise? lol.

investment is a great idea. but do it responsibly, u don't wanna cry because of ignorance. ;)
 
K

kitkat

sarNie Elites
Wow, I got a message from a close friend of mine;

Washington Mutual is closed by the government also was sold to JPMorgan Chase. It is history that WaMu is the largest failure of bank.

Lucky for you....
Click to expand...
Good thing, I closed it like a week ago. :rolleyes:
 
marduk

marduk

Sarnie Clown!
Yeah, I still have a good amount of my money in a WaMu account. All that's going to happen is that JP Morgan now owns the bank. Your money is still good.

In the end, I think there's just going to be a couple of major big banks in the U.S. with the top being Citigroup, then Bank of America, and finally JP Morgan. If Goldman manages to get a hold of a bank holding division, then they might get to play with the others too, but who knows.

But yeah, you all should not be worrying about the money in the bank. If anything, you should worry about the bailout plan and how it might affect us in the future.
 
You must log in or register to reply here.
Top