It’s a strange feeling in Seattle today.
WAMU is no more.
It seems like just yesterday they moved into a beautiful new building downtown. It’s probably my second favorite building downtown.
Two of the smartest kids from my college days took jobs at WAMU right after graduation. At the time it seemed like a great move. It was 2005, and WAMU was hot.
I wonder how many in Seattle will be jobless in a few weeks/days/months because of this.
I’ve always had a found place in my heart though for JP Morgan. In fact, I was reading one of my old journals from about 4 years ago and remembered that JPM was one of my favorite stocks to trade back then. I actually don’t think I ever had a losing trade with JPM.
Good news is that it sounds like there won’t be any issues for WAMU customers. I walked by a major branch today and saw one person in line. No mad rush at all.
Still glad I bank at BOA though, and keep my savings in an Orange Savings Account at ING.
{ 2 comments… read them below or add one }
sad. so sad. the WAMU failure was so depressing
Yeah it seems as if WaMu customers might be ok in all of this. I think I even read that the FDIC doesn’t need to get involved or anything. I guess every cloud has a silver lining after all.