Bank Watch: WAMU

[kstar]

WAMU (WM) is off almost 35% for the day, and over 90% the past year.

It closed at $3.23 today and has traded as high as $42.93 the past 52 weeks.

Not a lot of confidence from the Street.

Yowsah!

[widebody911]

Whoo hoo!

[Porsche-O-Phile]

Any bank that reduces its name to "Wamu" should be suspect, IMHO.

Cripes, it's worse than people who refer to phone conversations with them in e-mails as "telcos". Corporate double-speak gobbleygook.

[Seric]

Originally Posted by widebody911

Whoo hoo!

Finally, the backlash from a marketing campaign that mispells "Woo Hoo" is catching up to them?

[Noah930]

Originally Posted by Wayne at Pelican Parts

FYI, did you guys know that you can increase your level of FDIC insurance above $100K if you name beneficiaries (like children) on your accounts?

Some of us don't have that worry. But thanks for the tip, nonetheless.

[tabs]

Really Wayne????? you ain't *****in us are U now.....Fk I knew that back in 1970.....

Mother was one of the first people to open a Jumbo CD with Home Savings...back in the day. paid 7 1/4% interest.

U can also negioatate those interest rates with them tooooo...they will bump a 1/4 to 1/2 percent on those CD depending on how bad they need the dinero...

[BlueSkyJaunte]

So......if WAMU goes belly-up, do I not have to pay my mortgage anymore???

[Laneco]

I HATE that bank! I am not allowed to go into the branch where my husband banks. There was an "incident".

I failed to handle myself while dealing with their incompetance with my usual decorum... When I left they told my husband that "She must not come back here - ever."

I'll dance on their graves if they go belly up! v

angela

[Neilk]

Originally Posted by Laneco

I HATE that bank! I am not allowed to go into the branch where my husband banks. There was an "incident".

I failed to handle myself while dealing with their incompetance with my usual decorum... When I left they told my husband that "She must not come back here - ever."

I'll dance on their graves if they go belly up! v

angela

Your husband didn't close the account and go elsewhere?

[Porsche-O-Phile]

I used to have a W.M. account too and had a similar bad experience with them. I will not lament their failure if they go under. They deserve it for having such deplorable customer service, IMHO.

[MRM]

I bank at a fair sized regional bank that has its headquarters a block or so from my office. The business banking manager jumps up from his desk and greets me by name whenever I come in, even if I am just in to make a deposit. He gives me a quarter to half a point extra whenever I buy a CD. Last fall we had hail damage on our roof and I needed the bank to sign off on the insurance check so we could pay the repair contractor. I brought the check in to him. Usually the process calls for mailing the check in, waiting for two weeks while a corporate officer with authority to endorse it gets around to doing it, and then waiting for it to get mailed back. The business banking manager told me to sit at his desk while he ran into the president's office to see if he was in. He was. He endorsed the insurance company check right then and there. I was on my way in 20 minutes. The tellers know me and waive certified check fees and any other fees I happen to run into. I'm sure I'm a good customer, but I am certainly do not have enough at the bank to worry about FDIC insurance not covering it all. It's not exactly the old main street banking way of doing business, but it's close. Some of the best advice I ever got was to establish a relationship with a bank. It's hard to do with something like WaMu. It's a lot easier with a local or regional bank.