We have been warning you about Wamu for weeks

[rockstarinvestor]

[glow=red,2,300]This thread on the Offshore Banking section has been warning you about Washington Mutuals risk for a couple weeks now, but if you read the 1-800-COMPANY.com newsletter, you will find that they were warning about Washington Mutual for over a month. Pay attention to those newsletters they email out.[/glow]

Washington Mutual - Low Rating
« Thread Started on Sept 10, 2008, 2:00pm »

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You all should take a look at the L.A. Times Front Page Business Section - Sunday, September 7th.

How Safe Is Your Bank?

They show ratings by Bankrate & BauerFinancial of the top Banks from 1-5 stars.

Washington Mutual - Bankrate 1 Star - Bauer - 3 Stars
Wells Fargo - 4 stars on both (good rating)
Citi National Bank & California Bank & Trust - 4 stars on both
Bank of America - Bankrate - 3 stars - Bauer - 3.5 stars

Downey Savings & Loan - 1 star each


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landtrustme
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[ Exalt | Smite ] Re: Washington Mutual - Low Rating
« Reply #1 on Sept 10, 2008, 2:04pm »

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i'm not very thrilled about Washington Mutuals rating here. BofA looking better.
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Brett
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[ Exalt | Smite ] Re: Washington Mutual - Low Rating
« Reply #2 on Sept 10, 2008, 2:06pm »

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Great, one of my banks isn't looking that solid. I am going to make a partial change to help protect myself in case it bails out on us.

One thing that pisses me off is when my banks seem to keep buying other banks and vice versa. When I have gotten mad at a bank and changed, several times they end up buying the bank I switched to and what a pain it is to switch banks and update checking accounts and all that.
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Brett Schoneman
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Brett
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[ Exalt | Smite ] Re: Washington Mutual - Low Rating
« Reply #3 on Sept 10, 2008, 2:49pm »

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I just ran across your article online in the Your Money section - www.newsday.com/business/la-fi-cover7-2008sep07,0,6064832.story

I am going to post this one up in the main hangout too.


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protectmyassets
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[ Exalt | Smite ] Re: Washington Mutual - Low Rating
« Reply #4 on Sept 15, 2008, 11:18am »

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maybe it will take a few more major banks going under to really wake people up and protect themselves.

did you see the Lehman scare? What about Merrill Lynch being bailed out by Bank of America (it could have gone really bad there).

What about all the ones that are about to go under or may go under that we don't even know about? What about the 100+ in danger bank list?
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fast2008
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[ Exalt | Smite ] Re: Washington Mutual - Low Rating
« Reply #5 on Sept 17, 2008, 10:32am »

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if i move to another bank, then one of the low rated banks will probably purchase my bank, then i got to go through this shit all over again. it's just like when they transfer your real estate loan from one bank to another without your approval.
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protectmyassets
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[ Exalt | Smite ] Re: Washington Mutual - Low Rating
« Reply #6 on Sept 18, 2008, 10:59am »

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Sept 17, 2008, 10:32am, fast2008 wrote:if i move to another bank, then one of the low rated banks will probably purchase my bank, then i got to go through this shit all over again. it's just like when they transfer your real estate loan from one bank to another without your approval.



this has happened to me as well, man that pisses me off. I switched banks because they treated me bad and didn't approve a loan for me when i had plenty of money in their bank. so i switched banks to teach them a lesson and of course a year later they bought my bank and owned me again

[buddylite]

I love this board and keep warning us about what to look out for, because our politicians certainly won't, that is unless they can gain something for their own benefit.

[badeconomy]

i love this board ;D

[Brett]

Don't say 1-800-COMPANY.com message board didn't warn you about this and several other issues.

For those in Washington Mutual, they were bought up just in time by the other company, but some banks won't be bailed out. This is why we say put some of your money into a safe swiss or swedish bank and of course the obvious, never put more than 100k in each of your U.S. banks. and make sure each of your accounts are F.D.I.C. protected.

And of course if you think you can trust the advice your brokers are giving you, think again because they receive their information from sources that receive their information from sources whom often fudge the books or misrepresent the condition of their companies.

Anyone hear Bill O'Reilly going nuts and screaming about his brokers whom lost him what I believe to be millions of dollars?

[numbercruncher]

i'm glad people on this board are bringing up stuff like this. i don't like finding things out the hard way. i am seeing the news start warning a little in advance finally.