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Poignent Commentary On The Current Economic Goings On

Jestgar

By Jestgar
in Introduce Yourself / Share Stuff

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Jestgar Rising Star
Jestgar
Posted

Washington Mutual is a big bank in WA state. Or maybe I should say was, as of this morning. A short time ago this message was posted on our local freecycle board:

OFFER:Paper

Stock certificates from former regional banking powerhouse. Several

boxes, good for wall paper, wrapping paper, or kindling.

That small statement just sort of ripped my heart out. Don't know if it has the same affect on others.

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home-based-mom Contributor
home-based-mom
Posted
Washington Mutual is a big bank in WA state. Or maybe I should say was, as of this morning. A short time ago this message was posted on our local freecycle board:

OFFER:Paper

Stock certificates from former regional banking powerhouse. Several

boxes, good for wall paper, wrapping paper, or kindling.

That small statement just sort of ripped my heart out. Don't know if it has the same affect on others.

Being a WAMU account holder, I read with interest the article on the front page of this morning's paper. I knew that shares of WAMU stock had fallen (tanked, actually) from many dollars per share to a few pennies per share, but nevertheless was shocked to read the statement, "Shareholders and some bondholders will be wiped out . . . " :o:o

Wiped out ? For some reason I had (obviously erroneously) assumed (yes I know what that means :rolleyes: ) that stocks would transfer over to JPMorgan Chase.

It really is sad for the small stockholder who was hoping things would turn around. :(

darlindeb25 Collaborator
darlindeb25
Posted

WAMU has moved onto Long Island too. They are everywhere now here. On the news this morning, they told us that as far as the everyday customer is concerned, they will not even notice a change in WAMU.

Jestgar Rising Star
Jestgar
Posted
  • Author
WAMU has moved onto Long Island too. They are everywhere now here. On the news this morning, they told us that as far as the everyday customer is concerned, they will not even notice a change in WAMU.

I think that's an important point to keep in mind. The average person is unaffected by the collapse.

JNBunnie1 Community Regular
JNBunnie1
Posted
I think that's an important point to keep in mind. The average person is unaffected by the collapse.

For now.

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