Man.

I am just sort of sitting here on the floor in disgust. You never think your bank’s gonna fail. Oh, you might joke about it (I had a whole slew of WAMUhahas ready for posting over the next couple of weeks). But even with how bad it looked, I just assumed they were going to somehow get through it.

Nope.

But at least they got bought out. As of now, I’m a JPMorgan Chase customer instead of a Washington Mutual one. It could’ve been much, much worse. I saw all those people standing in line in Pasadena when Indymac tank-oed. Not pretty.

Interestingly, as of yesterday Sept 25, their website still said WAMU. Today, when I went to wamu.com it said “Welcome To JPMorgan Chase”. I’m still mulling over opening an “online only” bank account at either HSBC or ING. Not that HSBC is rolling in the dough just right now - I heard they were going to lay off a thousand people?

We already knew that our accounts were FDIC insured. It was just going to be an immense royal pain-in-the-patuti to get everything switched over to another bank. I still don’t know how it’ll work, but I’m assuming for the short-term everything should work fine - that is, online banking, mortgage payments, etc. should be going on as normal. At least that’s what I hear in the news. There shouldn’t be any losses for customers who had deposits from what I hear.

Well, this will certainly be something to tell your grandkids - I was part of the largest bank failure in U.S. history.

Excuse me, I’m going to go lie down now.

Source: Pretty Much Every News Outlet.