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Printable Version of Topic "Washington Mutual: Largest bank failure in history."

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-- Posted by Bearsy at 11:44 am on Sep. 26, 2008

I can't believe this is happening. Things are getting so bad


-- Posted by Young Deezy at 11:44 am on Sep. 26, 2008

WAT!?


-- Posted by Bearsy at 11:45 am on Sep. 26, 2008

it was announced yesterday.


-- Posted by Catacomb at 11:46 am on Sep. 26, 2008

ur dead americans. ur dead.

well. just broke. but aren't you always.


-- Posted by Young Deezy at 11:46 am on Sep. 26, 2008

IN Russia?


-- Posted by barnabas at 11:46 am on Sep. 26, 2008

I know right. I am very scared over what is going to happen next.

PS. I am moving this to science and business!


-- Posted by Killtyronedead at 11:47 am on Sep. 26, 2008

'Sup, $1.9 billion fire sale?


-- Posted by Bearsy at 11:48 am on Sep. 26, 2008

Quote: from Young Deezy at 11:46 am on Sep. 26, 2008


IN Russia?
I the US.


-- Posted by Bearsy at 11:48 am on Sep. 26, 2008

Quote: from barnabas at 11:46 am on Sep. 26, 2008


I know right. I am very scared over what is going to happen next.  

PS. I am moving this to science and business!


Kcool ty.

I'm scared too.


-- Posted by Young Deezy at 11:48 am on Sep. 26, 2008

What is going to happen now!?


-- Posted by robdude at 11:49 am on Sep. 26, 2008

The fat cats are getting paid


-- Posted by CherryxBomb at 11:50 am on Sep. 26, 2008

yeah, and my whole family has accounts in that bank =/
the FDIC chairman shelia bair said that its simply a combination of banks and that customers should expect buissness as usual, but i think that she just doesnt want us to panic so idk....im kind of worried =/


-- Posted by Bearsy at 11:50 am on Sep. 26, 2008

Starbucks will probably go out of business soon because everyone is trying to save money and what's the first thing you cut out? $3 in coffee.

Soon we'll look out how our lives were before this as "the good old days."


-- Posted by barnabas at 11:52 am on Sep. 26, 2008

Quote: from Its Bearsy Bitch at 1:50 pm on Sep. 26, 2008


Starbucks will probably go out of business soon because everyone is trying to save money and what's the first thing you cut out? $3 in coffee.  

Soon we'll look out how our lives were before this as "the good old days."



If people would just cut out stuff like that, we would all have more money thats fo sho.


-- Posted by robdude at 11:54 am on Sep. 26, 2008

Quote: from Young Deezy at 2:48 pm on Sep. 26, 2008


What is going to happen now!?
smaller banks will merge, I would think


-- Posted by Young Deezy at 11:54 am on Sep. 26, 2008

Quote: from Its Bearsy Bitch at 11:50 am on Sep. 26, 2008


Starbucks will probably go out of business soon because everyone is trying to save money and what's the first thing you cut out? $3 in coffee.  

Soon we'll look out how our lives were before this as "the good old days."



-- Posted by Pebbles123 at 11:55 am on Sep. 26, 2008

Quote: from Its Bearsy Bitch at 11:50 am on Sep. 26, 2008


Starbucks will probably go out of business soon because everyone is trying to save money and what's the first thing you cut out? $3 in coffee.  


NOT STARBUCKS!!!!
But...but..i buy hot chocolate and sit in there for about 2hours every moening before i go to college :(


-- Posted by sadnessness at 11:56 am on Sep. 26, 2008

its because the stupid congress cant decide what to do,
SORT IT OUT CONGRESS!


-- Posted by Young Deezy at 11:57 am on Sep. 26, 2008

Quote: from robdude at 11:54 am on Sep. 26, 2008


Quote: from Young Deezy at 2:48 pm on Sep. 26, 2008

What is going to happen now!?
smaller banks will merge, I would think

Does this not all just lead to 2012?!


-- Posted by barnabas at 11:57 am on Sep. 26, 2008

Quote: from Young Deezy at 1:57 pm on Sep. 26, 2008


Quote: from robdude at 11:54 am on Sep. 26, 2008

Quote: from Young Deezy at 2:48 pm on Sep. 26, 2008

What is going to happen now!?
smaller banks will merge, I would think

Does this not all just lead to 2012?!


i dont even know if it will take that long at this rate.


-- Posted by Aria of Silence at 12:01 pm on Sep. 26, 2008

They failed, but don't worry, they were bought out by a bunch of other banks and the government is actually getting involved to take on the 7 billion debt from them so that they're not afraid to loan out money...how great is that? Sure, Just give it to us! 1 trillion? psht, now its 1.7 Trillion!


-- Posted by Lulamae at 12:04 pm on Sep. 26, 2008

Quote: from Its Bearsy Bitch at 8:50 pm on Sep. 26, 2008


Starbucks will probably go out of business soon because everyone is trying to save money and what's the first thing you cut out? $3 in coffee.  

Soon we'll look out how our lives were before this as "the good old days."


If starbucks goes, I go!


-- Posted by Bearsy at 12:09 pm on Sep. 26, 2008

Quote: from Aria of Silence at 12:01 pm on Sep. 26, 2008


They failed, but don't worry, they were bought out by a bunch of other banks and the government is actually getting involved to take on the 7 billion debt from them so that they're not afraid to loan out money...how great is that? Sure, Just give it to us! 1 trillion? psht, now its 1.7 Trillion!

well they're taking it from us >_>


-- Posted by medjai at 12:29 pm on Sep. 26, 2008

I'm with wells fargo because when  I have thirty overdraft fees at once like I commonly do their customer service is easy to manipulate into reversing all of them as long as I "don't understand" how it's not their fault that I made thirty transactions while I had no money in my checking account.

"sir when you withdrew that money from the ATM it TOLD you you lacked the funds and we'd charge an overdraft and you authorized it. Then you did that three more times and then filled up your gas and bought this and that."

"thank you sir and since we both agree it is bank error I want my fees reversed."

"sir I just explained it's not bank error"

"I feel like you' re insulting my intelligence can I speak to your supervisor or manager?"

30 minutes later 1000 dollars of fees are reversed and this is on a regular basis.

Wells Fargo won't fail in this crisis, either. Fuck yes.

If I were in Washington mutual I would withdraw all my money from all my accounts asap. I would then overdraft a shitload intentionally.


-- Posted by Bearsy at 12:38 pm on Sep. 26, 2008

Why can't the world run on honesty and hard work


-- Posted by medjai at 12:44 pm on Sep. 26, 2008

That IS work sometimes it takes over an hour to pull that off especially when I say.

"in all my tIme as a customer I've only overdrawn this time and you should reverse them as a courtesy, I average over 2000.00 in my account too."

"actually sir looking at your records you have a bigger and more frequent overdraft history than anyone I've ever seen and the only reason your checking account doesn't average a NEGATIVE balance is because you apparently have never once paid an overdraft fee and have always had them reversed"

"that's exactly why I'm calling today!"


-- Posted by Bearsy at 12:47 pm on Sep. 26, 2008

But it's not honesty.


-- Posted by medjai at 1:13 pm on Sep. 26, 2008

They aren't honest either though, charging me 997 dollars in overdraft fees because I bought thirty five dollar or less items that capped my account is fucking injustice.


-- Posted by holysaiyan1 at 12:49 pm on Sep. 27, 2008

Quote: from medjai at 3:29 pm on Sep. 26, 2008


I'm with wells fargo because when I have thirty overdraft fees at once like I commonly do their customer service is easy to manipulate into reversing all of them as long as I "don't understand" how it's not their fault that I made thirty transactions while I had no money in my checking account.

"sir when you withdrew that money from the ATM it TOLD you you lacked the funds and we'd charge an overdraft and you authorized it. Then you did that three more times and then filled up your gas and bought this and that."

"thank you sir and since we both agree it is bank error I want my fees reversed."

"sir I just explained it's not bank error"

"I feel like you' re insulting my intelligence can I speak to your supervisor or manager?"

30 minutes later 1000 dollars of fees are reversed and this is on a regular basis.


Bank fraud much?


If I were in Washington mutual I would withdraw all my money from all my accounts asap.

Hooray for bank runs!  Why, banks don't need to have liquidity in order to run.  Screw the economy, we should induce as much market paranoia as possible!  Lots of good things happen when people withdraw their money from banks and hide it under the pillow.

Finance is hard, let's screw the "man" over and revel in the resulting financial troubles.  Boo capitalism, yay anarchy!


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