Friday, September 26, 2008

Another Bank Goes Down

Today WAMU went under and it's assets were taken over by JP Morgan Chase. What a month it has been for the US Stock Market. With Chase and Bank of America buying everything are we getting ready for the next storm where these banks will become too big to fail and then we are in the same mess years from now.

I have been a WAMU customer for long and I could say that it was a good bank from a service prespective, not sure how that is going to change with Chase.
Also with duopoly in the banking system, not sure what interest rates we will be getting on our deposits. WAMU was always attractive in it's rates.



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