Saturday, September 27, 2008

According to Who.

Thanks to all of you for your concern, your phone calls and your comments. Things will be alright. I just get frustrated dealing with corrupt and dishonest people. But, I should get used to it, because there are more out there then I want to believe. According to WaMu upper up's, they told their employees that they really were doing ok until the media decided there was going to be another fall by a big bank and it was going to be WaMu. People started to panic, pull there money out and stop putting money in and WaMu lost something like 17 billion dollars in the last 2 weeks. Supposedly the CEO had no idea the Feds were coming in, and that they did, and took complete control of the company, turned around and sold it to Chase for pennies on the dollar 10 minutes later. But the sucky part is that they didn't have to buy the stock. Oh well. It is just money. And it isn't as much as some who recently put hundreds of thousands or even billions into the company. All in all, I understand it, but it still sounds a little fishy to me. I guess I should stop being Sherlock Homes and just go with. That one was for you, honey.

2 comments:

Jolie said...

I'm sorry Sarah. I know that there is a lot of fear out there in the consumers. By making a "bank run" and pulling their money out, they are actually adding to the problem and making it worse. I receive about 5 calls per day on average with people asking about their deposits and if they are safe. I am on the commercial side of the bank so I'm not even getting as many calls as our branches are. I hope things work out well for Brett.

chris said...

Here's the quote I told you about, Bill Clinton blaming the Dems for the problem.
http://newsbusters.org/blogs/noel-sheppard/2008/09/25/fox-news-blames-democrats-financial-crisis-bill-clinton-agrees