Posts Tagged ‘wamu’

Panic in my pockets

WaMu or Washington Mutual or the bank of choice for all my friends in NYC, Queens – whether business or personal accounts – is rumored to fall next.

I got a worried voicemail instructing me to move all my funds out of the bank while riding the subway. There’s mass confusion for us that are not financially savvy.

Can someone from WaMu please let us know what’s going on and what we can expect? I know that the FDIC insures up to $100,000 and after that, you’re sort of on your own.

So any help would be great. And what I’m doing now is re-visiting other banks and figuring out how to manage this plan. NYC is getting to be more of a hazard for businesses and individuals.

The once popular banks employed well-paid bankers. Businesses thrived, real-estate prices sky-rocketed, night spots grew, coffee shops expanded, but with the fall of major banks, where will our city be in 5 years?

I’m worried.

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