So is it really so ? BAnks

[Jetta]

Well my husband speaks alot about banks going out I guess being closed down or I don't know what's going on but my husband did pull out because he knew all banks are going down ...
He says economy is going down hill...
so far where i live I have seen alot of people losing their homes....

So whats going on with these banks?

[Bernard_Monsha]

Wamu shut down but I knew that in the late 90's when they were buying up banks like a meth head surrounded by piles of sudafed and lakes of ammonia.

For more in depth coverage refer to this (http://animenation.net/forums/showthread.php?t=217682)thread and pay attention to my post and possibly the poster formally known as AxlX.

[The Million Dollar Prons]

This is like the 5th thread this week where Bernard taught us about economics.

[Undrave]

Canadian banks kick the crap out of American banks hahahaha!

[f2akid]

A couple years back I studied business in college and failed miserably. But my teacher was unbelievably intelligent when it came to general knowledge and there's one thing he said during a lesson that has always stuck in my mind.

He said that every hundred-or-so years the economy hits a massive low and pretty much breaks down. He traced back about 500 years from The Great Depression and showed us that the economy had actually plummeted every hundred-or-so years in ironically similar fashion to that of The Great Depression and explained that we're due a plummet in the near future for a significant portion of our lifetime (while subtly rubbing in the fact that he got to live through the boom of this particular section of the cycle).

Bottom line was that economy, just like everything else in business, is going to have a peak and a plummet and the cycle will always continue. So maybe we're due another Great Depression in the coming years or maybe even sooner.

[Jia]

It's circle of life/economy. What comes up must go down at some point but hopefully it will go back to a "normal" status and higher than this current fall.

[VidelCoolGirl]

Wamu is big news over here. Also, my loan lender is getting bought out.

[Bradster]

Wamu is big news over here. Also, my loan lender is getting bought out.

Bet you didn't know WaMu failed because it employed too many gays and minorities (http://corner.nationalreview.com/post/?q=MDQzYjA4ZWYyZDYyNjY0ODZjZmE1NzRkMWI3M WZiZGU=), did you?

(note: NRO is a site for far-right cranks)

[Broand]

You know, I think I told you that this was going to happen a bit ago.

[Ken-Ohki]

So, am I to head down to wamu and close my accounts? Or will they transfer my accounts to whatever bank picks up wamu?

[Bradster]

So, am I to head down to wamu and close my accounts? Or will they transfer my accounts to whatever bank picks up wamu?
When Chase bought Bank One, my accounts were automatically transferred to the former. YMMV, since the root situation isn't the same. (Maybe they'll send you a letter or email notification?)

[Jatz]

So, am I to head down to wamu and close my accounts? Or will they transfer my accounts to whatever bank picks up wamu?

As far as I can tell you do nothing.
http://www.chase.com/welcomewamu/

[Jetta]

Over here seems like we are going to have a great depression...
crazy

[Bernard_Monsha]

Bet you didn't know WaMu failed because it employed too many gays and minorities (http://corner.nationalreview.com/post/?q=MDQzYjA4ZWYyZDYyNjY0ODZjZmE1NzRkMWI3M WZiZGU=), did you?

(note: NRO is a site for far-right cranks)

I find it hilarious that their final press release was that. If they had spent more time on business and less on twonky politically correct bs (http://www.diggersrealm.com/mt/archives/002512.html) then they may have gotten out of this mess.

[CrossboneGundam]

Canadian banks kick the crap out of American banks hahahaha!

Storing your bone tools in a moose carcass doesn't count as participating in the global financial system.

[Bernard_Monsha]

It is spreading, Fortis (http://afp.google.com/article/ALeqM5iRRXBlghtcvc4-YN8qsoKm02eBeQ) is close to dieing.

[sailornyanko]

But from what I understand, bank account of less than 100,000 US dollars are 100% insured by the department of the treasury. As long as your account doesn't go past that quota, whatever happens in those banks won't directly affect you (now, will food and energy prices go up with the insecurity? I'd say yes, but your accounts won't dissapear). It's the millionaires that don't have Swiss accounts that are in trouble.

And since my family doesn't have an account with so much money in either country, I'm directly not affected by it for the time being. Mexico is still hitting a bit of a pinch from the business insecurity though with an increase in the inflammation but banks down here are doing fine.