“Leading Hotels Of The World” was supposed to have a sick deal today where you could get five-star hotel rooms for $19.28 per night, but the inevitable short supply and online stampede left many futilely clicking refresh for over two hours as the servers crashed. Instead of polite bellboys, many consumers were greeted by the message, “Just a moment, please…Due to the overwhelming number of consumers participating in this promotion. We regret to inform you due to technical difficulties beyond our control the 1928 promotion has been suspended indefintely. [sic]” Irate would-be customers left messages in various forums describing their experiences…
personal finance
2 Consumerist TV Appearances (On The Money, CBS2)
By 10.1.08
Web Extra: Rumor Control! [On The Money]
10 Things To Expect From The New Post-Apocalyptic Economy
By 9.30.08 — Updated: 10.25.12
Kiplinger’s has put together a list of 10 things that you, fair consumer, can expect from our new post-wall-street-apocalypse economy. Should you be scared? Maybe.
Citi Credit Card Cautions You Against Spending
By 9.30.08
Citi’s been burned enough by its cardholders’ profligate spending, apparently. Check out the message on this activation sticker on a new card. We like the inclusion of a sort of Yin-yang background, as if to remind us that debt and repayment are equal elements of the consumer credit world. A balance must be maintained! Just, you know, not so high a balance that you can’t make your monthly payments.(Thanks to Jerry!)
Understanding The Money Meltdown In 10 Easy Links
By 9.30.08
After reading these 10 links, the I Will Teach You To Be Rich blog believes they will make you smarter than 99% of other people about the financial crisis, what it means, and what to do about it. [I Will Teach You To Be Rich]
How Not To Panic About The Stock Market
By 9.29.08
Seeing the greatest single-day point drop in the Dow is probably not the kind of history anyone wants to be living through right now. The failure of the bailout bill to pass caused a big freakout in the market, which thought we were going to get a bailout today. But before you click the button to transfer all your investments to 0% return T-bonds (aka I give up on investing), first ask yourself if that’s really in line with your long-term investment goals. Secondly, realize that point-wise it might the greatest drop, but it’s not the greatest drop percentage-wise. In other words, we’ve been here, and bounced back, before. If you’re decades away from retirement, today’s plunge is a buying opportunity. Here are some thoughts about fighting the urge to panic.
Make Converting Bank Transactions Easier With Sites Like Wesabe Or Mint
By 9.29.08
One unpleasant surprise about switching to USAA from Washington Mutual is that I could no longer download all my transactions in .CSV format. When I was with WaMu, this made it very easy to import all my banking into my tricked out Excel sheet I use to manage my finances. USAA only lets you download in Quicken or Microsoft Money’s proprietary formats. Cutting and pasting the transactions as they appear on the website, even in Print mode, still is less than perfect. What I found out though is you can use a personal finance management site like Mint or Wesabe to do most of the grunt work for you. UPDATE: Reader Stephen pointed out there is a handy link at the bottom of the USAA page that lets you export as .CSV. I didn’t see this link because I was looking at the “download fund activity link,” which doesn’t have a .CSV option.
What Wachovia Customers Need To Do Post-Citigroup Takeover (Hint: Nothing)
By 9.29.08
What do Wachovia customers need to do now that Citigroup owns your ass? Absolutely nothing. You can do all your online and offline banking just like nothing happened. No temporarily held funds, no chained and locked bank branches. Everything is the same. Even your bank’s regulator remains the Office of the Comptroller of Currency. Down the road there will likely be a few alterations, most of them cosmetic. Read our post “Insiders: Probable 1-Year Timeline For Customers In WaMu To Chase Transfer” for some of the changes you can expect.
FDIC Sheds Qualifying Beneficary Coverage Rule
By 9.26.08
The FDIC is going to make two changes to their coverage. One affects beneficiaries and one affects trust accounts, according to a bank insider who participated in teleconference call the FDIC held banks this morning as a refresher course on FDIC coverage. The big news is that the “qualifying beneficiary” rule is gone. Here’s the specifics:
VIDEO: WaMu Ad Has New, Dark, Meaning
By 9.26.08
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…
Insiders: Probable 1-Year Timeline For Customers In WaMu To Chase Transfer
By 9.26.08
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.
Update: Not On CNBC's "On The Money" Tonight
By 9.26.08
8pm eastern, I’m going to be on CNBC’s “On The Money” tonight hosted by the fastest-shootin’ personal finance expert in the West and East, Carmen Wong Ulrich. We’ll be fielding questions from consumers wanting to know what money moves to make and I’ll chime in with the Consumerist.com perspective. Should be interesting! Got bumped, but should be back on again sometime soon.
WaMu Customers, Office of the Comptroller of the Currency Is Your New Regulator
By 9.26.08
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.
WaMu Fails, Feds Seize It, JP Morgan Buys It, Your Accounts Are Ok
By 9.26.08
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.
Personal Finance Roundup
By 9.25.08
Bank crisis: 10 things to know now [MSN Money] “If your bank goes bust, how do you get your money out? Are credit unions protected? What about investments? It’s time to get your ducks in a row.”
Warren Buffett Buys $5 Billion Worth Of Goldman
By 9.24.08
Warren Buffett buys $5 billion in Goldman Sachs stocks, causing a subdued “yay” to rise among investors. Is the contemporary equivalent to J.P. Morgan helping to calm the Panic of 1907 by walking onto New York Stock Exchange and buying bank stocks?
By 9.24.08
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Wall Street Fighter has a list of 18 money management websites, to handle everything from making zero-commission stock trades to dunning your family for past-due IOUs. [Wall Street Fighter]
Executive Customer Service Info For 7 Banks
By 9.24.08
I was just on CNBC’s “On The Money” and heard from one homeowner who was frustrated that no one at Washington Mutual would return her calls or letters in her attempts to renegotiate her mortgage. I told her it was time to contact executive customer service and/or launch an EECB. I received a few emails after the show from other homeowners in the same situation, so here is all the executive customer service contact info we have for various banks.
