And down goes WaMu. Thanks GWB. You are a peach.

[thepurpose]

JPMorgan Chase & Co. tonight will announce it’s buying most or all of Washington Mutual Inc.'s deposits and branches, according to a source close to WaMu.

JPMorgan has scheduled a conference call with investors and analysts for 6:15 p.m. PDT.

One possibility is that the government will seize WaMu just before the JPMorgan purchase is announced, paving the way for the deal.

The New York banking giant has long been rumored to be the most likely buyer of some or all of ailing WaMu, the nation’s largest thrift, with $182 billion in deposits.

http://latimesblogs.latimes.com/money_co/2008/09/jp-morgan-chase.html

[thunder rising]

1. WaMu??...now we are getting personal.

[Democrats_win]

4. That's what they call themselves. Their ad in the newspaper uses this name.

In fact, they had a full page ad in yesterday's Denver paper like any other bank might have. They were just advertising their rates, and all that stuff that you would expect from any bank ad.

[KamaAina]

10. They've been blitzing the teevee with ads, as has AIG.

Trying to get suckers to deposit their money, or write a policy, into their respective financial black holes. All entirely on the up-and-up and ethical, of course. :sarcasm:

[Skink]

2. Does this mean Chase doesn't think congress can get thins done?

[SoCalDem]

3. "...$182 billion in deposits..." , minus $3,175.37

that I took out when I closed out checking account today :):rofl:

[anigbrowl]

9. Ah, so it's all your fault!

Seriously, I wouldn't go round joking about that for the next few days.

[SoCalDem]

11. We just did not want the drama of having our bank change on us again..

We started with Household Savings Bank (happy with them)
Home Savings bought them (happy with Home savings..right down the street from me)

then WaMu bought them and moved miles away from us, closed our branch, but I was willing to stay with them since we have some automatic check thingies..but this was the last straw..so we moved out money to one of our other banks :)..they recognize my voice when I call them.. and NO phone robots..I call the branch directly.. and we get an extra percent on our CDs because we have 3 accounts with them:)

[pa28]

5. Common shares toast.

Mission accomplished!

:nuke:

[kestrel91316]

6. I have my personal checking account at WaMu. I don't expect anything to

change except the sign on the building and maybe some of the faces at the teller windows.

If Chase buys them rather than, say, Wells Fargo, I don't even expect my nearest branch to close. I am not worried. I have no savings there. Banks get bought and sold all the time. Yawn.

What a waste, though. I just paid $20 for some new checks and haven't even started using them yet.

[kenny blankenship]

7. This is actually a fairly benign ending to the WaMu drama - if it ends there

If the FDIC had to seize it that would pretty much tap them out, requiring a "bailout" of the FDIC.

[ladyVet]

13. According to CNN, Feds seized and sold to JP Morgan/Chase.

I guess they had to wait and get the lowest price, but on the bright side, nothing for depositors will change supposedly.

[dkofos]

8. We may see one a day until bush gets his BAILOUT.

Sacrificial lambs so to speak.

[cliffordu]

12. I'm glad my $16.79 is fully insured by the FDIC

How much do you think I'll lose out of that???

[MiniMe]

14. But it's not Friday yet. Things must be getting worse, they are failing on a Thursday

:sarcasm:

[malaise]

15. Never in American history has a bank been taken over

by the Feds on a Thursday. George Bush and his goons are terrorize the entire country - this is a power grab. Shock Doctrine - be scared or else. The old time terra, terra, terra no longer works. The war criminals are prepared to destroy the country to maintain power. They are prepared to destroy the entire world economy to maintain power.

Do not let the cabal scare you. Impeach these fucking criminals.