Consumerist
-
money meltdown
WaMu Told Washington That Adjustable Rate Mortgages Were Safer Than Some Fixed Ones
The Associated Press says that a review of regulatory documents shows that years before the subprime mortgage crises developed into a full blown economic meltdown— the government ignored warnings and listened instead to lobbyists who represented some of the same banks that have now failed. More » -
wamu
Kiss Courtesy Overdraft Fees Goodbye With WaMu Debit-Only Card?
Whoever came up with the name "courtesy overdraft fee" is one smart cookie. They figured out a way to let you do something you don't want to do, charge you a fee, and make it sound like they're doing you a favor. WaMu is one of the few banks that let you... More » -
washington mutual
WaMu And Wachovia Weren't On Texas-Ratio Deathwatch List
Back in July, after IndyMac went under, we posted a list of ten banks that could be "the next to go under." Interestingly enough, as reader Irene noticed, neither Washington Mutual or Wachovia, two major, sub-prime mortgage saddled, banks that got taken over recently, made the list. The list was based on analyzing the banks' "Texas-Ratio," basically the ratio of loans they've made to capital they had on hand. None of the banks on the Texas-Ratio watch list, like "The State Bank of Lebo" of Lebo, KS, or "First Priority Bank" of Bradenton, FL, can be found on another list either: the list of banks you've heard talked about in the news. Well here's a newsflash that the media elite passed over while buffing their loafers with their fancy college degrees: The State Bank of Lebo now has an ATM. It's inside Casey's General Store. Put that in your pipe and smoke it!
PREVIOUSLY: 10 Banks That Could Be Next To Go Under (Photo: knightraven)
-
washington mutual
WaMu CEO Could Get $18 Million+ For 3 Weeks Work
For three weeks, Alan Fishman was the CEO of WaMu before it went bust. For his excellent stewardship during these turbulent times, Fishman is eligible for at least $18 million, thanks to his signing bonus. Not blaming the guy, the place was screwed well before he got there, but, man, $6,000,000 a week, not a bad gig, eh?
WaMu CEO: 3 weeks work, $18M [CNNMoney] (Thanks to Erik!)
-
washington mutual
VIDEO: WaMu Ad Has New, Dark, Meaning
Now that Washington Mutual completely imploded on its garbage-pile avalanche of home mortgages, this old WaMu commercial from August 2006, starring Scott Adsit pre-30 Rock, takes on a new, darker, meaning... More » -
washington mutual
Insiders: Probable 1-Year Timeline For Customers In WaMu To Chase Transfer
What will it be like for Washington Mutual customers as they get assimilated into the Chase fold
One of our commenters, mavrick67, who says they have over 20 years banking experience and have witnessed 8 takeovers throughout the years, provided a timeline as to what you can expect. More » -
-
washington mutual
WaMu Customers, Office of the Comptroller of the Currency Is Your New Regulator
As an aside, WaMu's charter was under the Office of Thrift Supervision (OTS). Chase's bank regulator is the Office of the Comptroller of the Currency (OCC). Whether being a Chase customer was your choice or not, if you ever have a major complaint about Chase regarding what you feel is on the bank's part malfeasance, you'll want to send it to the OCC. -
wachovia
Now That The Largest Bank Failure In U.S. History Is Over, Is Wachovia Next?
The collapse of Washington Mutual and the FDIC-engineered fire sale to JPMorgan Chase has people worried — about Wachovia. Wachovia's stock is down 45% for the week, and 27% today as bailout talks stalled in Washington and WaMu held a garage sale at the FDIC. More » -
washington mutual
WaMu Fails, Feds Seize It, JP Morgan Buys It, Your Accounts Are Ok
The Feds seized Washington Mutual and JP Morgan bought it, but don't fret, all your accounts ok. Online banking is completely functional. If you held WaMu stock, on the other hand, it's now effectively worthless. Depositors began fleeing WaMu on September 15, the day Lehman Brothers filed for bankruptcy. In all, they took out about 9% of WaMu's deposits, or $16.7 billion. Regulators say this left WaMu without enough capital to keep functioning. The shakedown and bailout continues apace. What new surprises will the government bring us today, Monday, or even over the weekend? At least this one didn't require taxpayers to foot the bill.
JPMorgan buys WaMu [CNN] (Photo: So Cal Metro)
-
wamu
WaMu Downgraded To Even Junkier Junk, Still Looking For A Life Preserver
The Wall Street Journal is reporting that WaMu is courting several private equity firms about a potential takeover after their debt was downgraded even further into junk status by Standard & Poor's. Once merely "junk," WaMu is apparently, "so junky we are not even kidding around about it anymore." More »
washington mutual
New York, 3:37 PM
Thu Dec 4
20 posts in the last 24 hours
Tip Your Editors:
tips@consumerist.com
Editor:
Ben Popken | Email | AIM
Senior Editor:
Meghann Marco
Email | AIM
Interns:
Alex Jarvis | Email
- ValleywagPerks
- io9Scifi gift guide
- GawkerViacom
- DefamerPop Culture Doomsday
- JezebelAnna Wintour
- GizmodoBattlemodo
- DeadspinRyan Leaf
- Jalopniknissan nv2500
- LifehackerScreenshot Tour
- KotakuDeath of criticism
- Consumeristrecession watch
