Touched by the financial crisis

September 29, 2008 at 11:25 pm (Money & Investing)

Well, I suppose it was bound to happen sooner or later – I found out yesterday that while I was gone camping and out of touch with the rest of the world, Washington Mutual (or “Wah-Moo” as the aging hipsters in their marketing office decided to shorten it to) went under.

Thankfully I don’t have any of my cash saved with them – in fact as far as I’m aware WaMu doesn’t even have banks around here.
However, my primary credit card that I seriously buy almost everything with goes through them.
I was hoping this would mean that my credit card debt would get erased, but that appears to not be the case – they were snatched up by Chase (which is another mega-bank that I do have money in) who I’m sure will be just as happy to take my credit card payments – if I remember right WaMu’s value crashed something like 96% – in one day.

That, my friends, is some scary shit.


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