Is WAMU closing on Friday?
- Thread starter pinkmandy
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DrCap
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it's illegal to start a bank run.
Though I haven't heard of a buyer yet for WAMU and it is bank failure Friday tomorrow.
Interesting. I'm not familiar w/Hal Turner so wasn't sure about the credibility factor.
So what happens if WAMU closes tomorrow? Aren't they "too big to fail"? One of the biggest if not the biggest? And then, where on earth will they find money for that???
This is insanity.
So what happens if WAMU closes tomorrow? Aren't they "too big to fail"? One of the biggest if not the biggest? And then, where on earth will they find money for that???
This is insanity.
Pauls' Revere
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ord33
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I sure hope not - I would probably lose several thousand dollars if they do. I am in real estate and have been representing a buyer who has a contract on a short sale (where WaMu holds the loan) since Mid-May and it is scheduled to close tomorrow. I can say one thing for certain their default loan department is either understaffed, incompetent, or just don't give a darn because they are practically impossible to get a hold of. They drug their feet until mid-AUGUST to decide whether they would accept my buyer's offer - 3 months to make a decision to sell the cabin or not after losing paperwork two different times and having to resend everything in.
I hope they at least make it to early next week, then if they are destined to fail, let them fail. I thought they've been on the auction block for quite some time now with a couple companies checking them out. With all the cash the Fed & other Central Banks through in the market today, I would be very surprised if they actually "closed their doors" as the blog indicates.
I hope they at least make it to early next week, then if they are destined to fail, let them fail. I thought they've been on the auction block for quite some time now with a couple companies checking them out. With all the cash the Fed & other Central Banks through in the market today, I would be very surprised if they actually "closed their doors" as the blog indicates.
Josh_LA
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what constitutes a run? is telling people to cash out just to be safe considered a run?
Josh_LA
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You're right, it really doesn't matter.
They'll either have FDIC bailout, which would be more inflation, or they won't and people sleeping will be screwed, the fact we're awake about it means enough (arrogant of me)
123tim
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tmosley
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Hal Turner is about the least credible person you could listen to. He got kicked out of white power circles due to his douchbaggery (which is really something, considering the general level of douchbaggery in that movement).
I know this from my time among Anonymous (those were some hilarious raids, much better than the Scientology ones).
I know this from my time among Anonymous (those were some hilarious raids, much better than the Scientology ones).
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