Should I take my money out of WaMu?

[konechiwa 10+ year member]

Looking for some advice...care to come into the thread flip?

So here's the deal. I'm going off to college and I have (and will have) probably about 5 grand in my two wamu accounts (checking and savings). However, I keep hearing things on the news, reading this on the internet and paper about how bad their doing.

Their stock has plummeted and they say they are fine, but I think otherwise.

I know the government has some 100,000 dollar gaurantee, but I heard on the radio it was only for certain types of accounts.

Anyone care to clarify the situation for me? Should I? Should I not?

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[benchambers80]

all your eggs in one basket?

 

[Banana Balls 5,000+ posts]

I luff my WAMU.

 

[konechiwa 10+ year member]

all your eggs in one basket?

Why would I have multiple accounts with multiple banks?

 

[Chevillac 5,000+ posts]

I luff my WAMU.

haha.

I heard wachovia is the one going down though. Didnt hear anything about wamu.

 

[konechiwa 10+ year member]

haha.

I heard wachovia is the one going down though. Didnt hear anything about wamu.

the stock dropped by 30% a couple of days ago. It's down to like a buck and a half (from 40 a couple of years ago).

 

[GearGuy2001 10+ year member]

Buy Gold and Silver before it shoots to the moon with the failing dollar //content.invisioncic.com/y282845/emoticons/biggrin.gif.d71a5d36fcbab170f2364c9f2e3946cb.gif

 

[konechiwa 10+ year member]

Buy Gold and Silver before it shoots to the moon with the failing dollar //content.invisioncic.com/y282845/emoticons/biggrin.gif.d71a5d36fcbab170f2364c9f2e3946cb.gif

uhm yah I'll just pay pizza hut with silver nuggets.

Great idea.

 

[Banana Balls 5,000+ posts]

I'd imagine that all banks are taking it in the *** right now. If one was to fold, it would jsut get snatched up by another bank and your account would be transferred.

 

[Banana Balls 5,000+ posts]

haha.

I heard wachovia is the one going down though. Didnt hear anything about wamu.

I would love for Wachovia to disappear. I still owe them 10K on one of my vehicles.

 

[konechiwa 10+ year member]

I'd imagine that all banks are taking it in the *** right now. If one was to fold, it would jsut get snatched up by another bank and your account would be transferred.

i suppose so...

 

[Chevillac 5,000+ posts]

I luff my WAMU.

I'd imagine that all banks are taking it in the *** right now. If one was to fold, it would jsut get snatched up by another bank and your account would be transferred.

i suppose so...

I wouldnt trust them. Id rather keep it under the mattress until they complete the switch.

 

[evildave101 10+ year member]

i read someting on yahoo last week about over 150 banks are expected to go under in the next year and a half? we might all be screwed

 

[konechiwa 10+ year member]

I wouldnt trust them. Id rather keep it under the mattress until they complete the switch.

thats what i was thinking, but How can i know if they are gonna kick the bucket? they say they are fine, but finances point otherwise...

 

[Jmac 10+ year member]

Looking for some advice...care to come into the thread flip?
So here's the deal. I'm going off to college and I have (and will have) probably about 5 grand in my two wamu accounts (checking and savings). However, I keep hearing things on the news, reading this on the internet and paper about how bad their doing.

Their stock has plummeted and they say they are fine, but I think otherwise.

I know the government has some 100,000 dollar gaurantee, but I heard on the radio it was only for certain types of accounts.

Anyone care to clarify the situation for me? Should I? Should I not?

If you don't feel comfortable leaving your money there, take it out ...
Pretty simple ...