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WaMu Bought by Chase: All Your Bank Are Belong to Us
Washington Mutual has foundered in the stormy seas of Wall Street, and has been salvaged by JPMorgan Chase. When I read the news while patrolling the site this morning, I immediately checked my own account, since I'm a WaMu customer... I was greeted with the image you see to the left, as well as some hasty front-end changes to the website (Hint to site managers: rollover items must stay open long enough to accept text, and the buttons need to work if you're going to display them. You're hastily-acquired bank, and therefore confidence in you is at an ebb: don't scare us away via your UI as well! But I digress).
I logged in and saw that my forty-seven US cents were still there. Whew. We at NowPublic are keeping an eye on this in a special Channel.
We're proud to welcome you to one of the nation's largest banks; as of September 25, 2008, JPMorgan Chase & Co. has acquired the deposits, loans, and branches of Washington Mutual. Your deposits remain insured by the FDIC and are now also backed by the strength and security of JPMorgan Chase.
I guess the silver lining here is that there will be more ATMs available in NYC, since WaMu only had a few. I wonder what it means for free checking in the long term, since Chase was a notorious nickel-and-dimer.
Q. What if I have more than $100,000 at WaMu?
(Headline reference: "All your base are belong to us" was one a' them Internet memes))
Crowd Power
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Jordan Yerman
Vancouver, British Columbia, Canada




Most RecentMost Recommended Comments (4)
at 06:16 on September 26th, 2008
jordan, I like this story. It's good stuff.
You may have panic a little more would the 47 cents be 4700 dollar or worth. :)
at 06:22 on September 26th, 2008
jordan, 47 cents at Wamu still here ! Others withdraw this year $17bn from Washington mutual. Don't hear much about this in US newspapers. No bank can stay this
at 06:26 on September 26th, 2008
jordan, I like this story. It's good stuff.
oh lovely, now I'll have Chase chasing me for $147 I owe WaMu, which I refuse to pay because WaMu dicked me.
It just gets better all the time don't it eh?
at 13:36 on September 26th, 2008
jordan, I like this story. It's good stuff.