EPIC WAMU FAIL
September 26th, 2008 at 08:44am
Washington Mutual's fall was quick and painful. The bank's stock was down like 95% with a market cap of $2 billion and a couple hundred billion in outstanding loans so there's no surprise they failed. What does surprise me is how quick they went down. I opened a checking account at BofA last week just in case so I'll have to decide what to do with that. I was getting 4% in my savings account with WaMu, so if JPMorgan nerfs that rate I'll jump ship. Too bad I didn't know about BofA's referral program before opening my account, could have gotten me and the Blarg $25 each. If anyone wants to move from WaMu to BofA let me know and I'll send you a referral.
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