As I have started to get back on feet of late, I’ve been tempted to open an account with WaMu. Glad I’m not that back on my feet as yet:
Do you have uninsured money at Washington Mutual?
Then get it out NOW. Big red flashing warning sign include a soaring credit default swap rate above that of Bear Stearns when it collapsed and huge amounts of put option buying at the 3 strike price (Yes, 3.)
The credit markets and some deep pocket players think WaMu is going down.
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July 26, 2008 at 9:56 am
Bob Morris
The primary risk is those with uninsured money. The FDIC insures up to $100,000 per account. Any amount above that isn’t insured.
July 26, 2008 at 2:14 pm
Mike
FDIC has $56 billion, more or less. $8 billion of that will be eaten by IndyMac. After 6 more IndyMacs, there won’t be any more. Then what?