Bye WaMu

[chnco]

It was nice knowing you guys.

[06IX RS]

lol!!

[tony]

Damn, it seemed like the minute they opened their doors there was a location in every strip mall... now this.

[twinj]

FDINC Insured. They arent going anywhere just a new owner.

[TypeRPersonality]

I understand JP Morgan owns WaMu now. Should that concern me as a depositer? Would the company change it's regulations and add fees due to new ownership? Would I be better off opening an account with Wachovia/BOA and transferring my money or stay put?

[aguynamedpat]

Ive heard (not from credible sources) that Wachovia is in trouble also. I use Suntrust, and havent heard anything about them yet. I think your best bet is if you want to go somewhere, take it to BOA.

[dartingd]

i have stock in wamu...should i sell today while i still can, or buy it at the stupid cheap price it's at? i'm still new to the stock game

[twinj]

^^Dude Wamu stock is @ .16 cent You can sell but don't look for a profit. You can't even buy bubble gum with that.

I heard that JP Morgan wont change Wamu,or the customer wont be able to see a change. BOA is buying everything , and I think they are second from the top. Someone correct me if I posted so incorrect information.

[dartingd]

what i'm getting at is should i buy some now that they're going to restructure?

[chnco]

Wachovia is in talks with Morgan Stanley. They should be merging in the very near future.

[twinj]

Doubt it, But I'm not an expert.

[ash7]

what i'm getting at is should i buy some now that they're going to restructure?

They're not changing anything except their name, which is now going to be under under the JPMorgan Chase nameplate.

There has been a slow and quiet run on WaMu for a long time... when i checked the markets this morning over my coffee their stock opened at .18 a share, i'd look for it to drop over the rest of the day...

If you're one for "random shots in the dark," then it's prime pickings. I've never been impressed with JPMorgan's upper echelon though, so I'm not going to buy - but if you still own stock there, might as well hang on for the ride if you can afford to take a chance. :goodjob: I mean, two months ago it was worth 5 dollars a share - what else have you got to lose?

-jonathan

[umairejaz]

Stay in it for a long the run, day trading is usually left to the professionals.

[TypeRPersonality]

^^Dude Wamu stock is @ .16 cent You can sell but don't look for a profit. You can't even buy bubble gum with that.

I heard that JP Morgan wont change Wamu,or the customer wont be able to see a change. BOA is buying everything , and I think they are second from the top. Someone correct me if I posted so incorrect information.

Yes, you're right. You can check out the merging plan here: http://www.chase.com/welcomewamu/
In terms or checking and savings, nothing will change. In the future, all the WaMu branches will be renamed to Chase. And you're right about JP Morgan being second to BOA.

[Mr. Clean]

I mean, two months ago it was worth 5 dollars a share - what else have you got to lose?

-jonathan

:goodjob:

def. not worth selling right now unless you owned like 50000 shares or some sh¡t and you were gonna lose your ass if they went kaput. if you have, say; 30-40 shares then just hold onto it, if it even goes back to $1/share then you've gone from $6+- to $30-40. but i def. would not suggest buying anymore of it right now haha.

[B18c1Turboed]

From what i was told, once the FDIC steps in and takes over a bank, the stock is worthless!! Might wanna check into that.

[umairejaz]

The FDIC didn't step in.

[TypeRPersonality]

The FDIC didn't step in.

They did, they stepped in and seized WaMu and sold its assets to JP Morgan.

[Kevykev]

I have a pretty good savings with Wamu and plan to keep it there. JPM and Chase are great banks and should do well with their new acquisition.