September 20, 2008

Washinton Mutual not out of the woods yet!

Had a great scare a few days ago when a good friend in San Diego emailed to advise me to get my money out of Wamu 'cuz they're have HUGE problems and may go under soon!  YIIKEES!  Anyhow.. It prompted me to take quick action and even though things may have quieted down by the short-term actions of the U.S. gov't-- I don't really feel safe having my money in this particular bank any longer- Mind you... I have been with them a LONG TIME-- since 1983 when they were still Great Western... Well, all this talk about banks and stuff got me thinking about the U.S. economy and how this particular friend of mine also believes strongly that the U.S. is headed for a Depression!  Can you imagine?  I know that for years, it's been in a recession.. but a full-blown Depression would be an outright disaster.  What do you all think and how does this affect you... Just wondering!


6 comments:

Giggle! said...

heeheee! I'm getting sick of banks all together! Always having problems with em!!!

I'm thinking about just buggering them all and getting a safe to put all our money in!

But shhhh don't tell anyone or they might try to rob me! :-P xx

au soleil levant said...

I think in France you're probably pretty isolated from how much this is a real crisis in the US, but here it's all over the news, all day every day.... it's pretty scary stuff. And the worst is the people the people who got dumped into mortgages or the innocent employees of Lehmann who didn't do anything. Apparently even banks with good investments, like Goldman Sachs, are possibly in trouble because there's absolutely NO confidence in the markets. Good time to be heading back to France!

Leesa said...

Giggles- I was thinking of that same thing, too!! It's not that I'm sick of the banks... my bank in the US was always a great one... It's just that here from France, the news isn't the same, so I really had no idea HOW BAD the situation was about the banks... REALLY SCAREY!!!!

Mira-- You're right, even though there is some stuff on the news that passes, it's not reported in the same fashion as "in your face, up close and personal, day in and day out," as in the U.S. So, yeh... I didn't feel the situation with the banks was that out of hand... Scarey stuff... I think that even the actions by the the US govt, will be short-term at best... If McCain gets into office, the country's goin' DOWN.... I just feel it in my bones... It's very sad and terrifying...
We'll have to talk when you get back.. I'd love to be "filled in" since you spent such a long time there.. you got a good feel of what people are thinking...
See ya soon.. Leesa

debi_in_Hawaii said...

I'm about getting ready to cut up my check card, since it always gets me in trouble with the overdraft fees @ $26 each. I've already cut up my Macy's card when they charged me $25 for paying my bill *ONE* day late!

Milk Jam said...

I checked out the situation because I also have WaMu, as long as you have less than $100,000 in your account it is FDIC insured and even if they go under (sounds like they will be bought out instead) then your money is insured by the government.

Don't take your money out, if everyone did that it would cause a run on the bank.

The Big Finn said...

Just don't put all your eggs in one basket and all should be fine.