Bye Bye WAMU

Thank God they didn't declare bankruptcy... I don't think the FDIC could cover them. As far as JPMorgan-Chase-Wamu-Bear Stearns, holy crap that company will be huge. There is no way to allow these companies to operate without comprehensive oversight, improved transparency, and sensible regulation. ALL of the survivors of the credit meltdown will be "too big to fail"

Is GE next?

 

WF has a solid balance sheet. They aren't going down with this mess. A lot of banks will fold before WF does.

 

I hate banks. They're one of my top three most hated industries (banking, insurance, auto mechanics... and medical/pharmaceutical is reapidly climbing the list)...

... but we've been banking with WaMu for several years now and it has been significantly less crappy than other banks that we tried.

Incidentally, Wells Fargo is the WORST.

 

Do explain why their the "worst".

 

is that mean I dont have to pay back my WaMu credit card?

 

I second that, but I doubt well get bailed out like that.

 

I keep telling people...

Switch to Bank of Texas. Hell, switch to a local bank. I refuse to bank with a nation-wide firm. They simply show time and time again not to know what the hell they are doing.

 

How so, I've never had a problem with them, have used them for 10 or so years now.

 

You mind expanding on the difference a bit more?

Rocket River

 

You forgot TOW TRUCK OPERATORS

Rocket River

 

The stock price for GE has been in the mid 20's for a while. They are having some significant pain from the current state of affairs, but not enough to bury them because they have other large business units beyond financial services.

The market cap for GE is over 250 billion. The market cap for Bank of America is over 150 billion and the market cap for JP Morgan is about 150 billion. If GE would go under................we would have some serious troubles to overcome.

Those are just <i>numbers</i> without other points of reference.
Largest Market Capitalizations

Code:

<b>June 2008</b>

1 Exxon Mobil 
2 PetroChina 
3 Gazprom 
4 Petrobras 
5 China Mobile
6 General Electric
7 Royal Dutch Shell
8 Microsoft 
9 Indl & Coml Bank of China 
10 BHP Billiton
11 Wal-Mart
12 BP 
13 Chevron
14 Total 
15 AT&T 
 

 

Compass has many of those same perks. Look for one in your area.

 

FAIL. Bank of Texas, is really Bank of Oklahoma. Look it up.







Amegy is local to Houston, fwiw.

 

amegy is owned by zions of utah, they bought southwest which was local

 

snls are mostly for consumer mortgage lending while banks do mostly business lending as well as consumer.

 

I have a big chunk of savings in hsbc. Do I need to get my cash out before they go under?

 

I'm moving to Bank of Texas, as well.

 

I liked their commercials.

 

I think right now the best banks to be with it and feel safe with are
BofA, Chase and Wells fargo. Anything else is just uncivilized.

I thought Wachovia would go down before WaMu so I was sorta surprised by the developments this month, I still think Wachovia will be bought in the next year.

 

hsbc is very safe. if you want an idea of how your bank is doing just look at their stock chart.

http://finance.yahoo.com/echarts?s=...=on;ohlcvalues=0;logscale=on;source=undefined