In California, MOST (75%) of the loan officers for WAMU WALKED OUT yesterday (4/3/08). Typically events like this happen because the employees get word of a massive firing/layoff or even worse, THEY WERE TOLD THEY WERE NO LONGER GETTING PAID. A un-announced walk-out of this type will cause major problems to the pigmen executives at WaMu.
It is likely and very possible that WAMU is in ON IT'S KNEES AND ABOUT TO BREAK, INSOLVENT AND/OR BANKRUPT and about to explode which would send all depositors to FDIC or WM will get purchased/taken over or "Nationalized" - The "Free Market" & "Amerikan Way" (something similar to the recent ILLEGAL Bear Stearns/JP Morgan/Fed/PAULSON/BUSH/CONGRESS BAILOUT) . Ron Paul on the Federal Reserve and Economy here.
There is NO QUESTION that this will start a new deep plunge downward in the Stock Market.
FDIC IS A JOKE
The FDIC says “historically” depositors are paid within a few days after a bank closes, usually the next business day. Depositors can access the funds by opening an account at another bank or by receiving a check for principal and interest, up to the insurance limit. (Note the word and emphasis on the word "historically", because the current mortgage mess testing the financial industry has no precedent.)
Another common myth is that monies invested in stocks, bonds, mutual funds (including money-market mutual funds), life-insurance policies, annuities and municipal securities are FDIC-insured, as long as they’re purchased through an FDIC-insured bank. THEY ARE NOT
The mainstream brainwashing lying propaganda media is not reporting this information, if you are doubtful then go into a WAMU and ask about talking to a mortage rep and see what they tell you (while you are taking out your money of course).
GET YOUR MONEY OUT OF WASHINGTON MUTUAL BANK (WM) ASAP AND MOVE IT TO A SAFER BANK. IF YOU ARE IN CALIFORNIA, TAKE A LOOK AT FARMERS & MERCHANTS BANK. THEY ARE ONE OF THE VERY FEW BANKS IN THE COUNTRY THAT HAS BEEN AROUND AND SURVIVED THE ORIGINAL GREAT DEPRESSION AND ARE VERY PROUD OF THAT FACT AND WILL SHOW YOU TRUE CUSTOMER SERVICE AND APPRECIATION OF YOU TRUSTING THEM WITH YOUR MONEY (Trust is the point of a bank, without it they can not exist so make sure you trust your bank with your money).
BRACE FOR IMPACT NOW
1 comment:
Also I should remind you all that WM's equity position...being their stock price. Is currently sitting at its 15 YEAR LOW!! There are so many other banks out there...why take the risk on something cost you absolutely nothing to change...well except for you to get off your ass and stop watching tv and drinking beer for an hour to go change.
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