bloomberg.com — WaMu recorded $5.9 billion of provisions last quarter. As of June 30, it had $11.2 billion of so-called nonperforming assets, or 32 percent more than its $8.5 billion allowance. A traditional rule of thumb is that when a bank's allowance is less than nonperforming assets, it's a sign the bank might not be setting aside enough reserves.
Jul 30, 2008 View in Crawl 4
cjacks9Jul 31, 2008
I bank with them and I work for as a contractor for a company WaMu outsources some of their tech support to. I was on the phone with one of their employees when he mentioned the feeding frenzy at a bank across the street from him...people clamoring to get their money out and all that. Be a downright shame if the same thing happened to them.
Closed AccountJul 31, 2008
You should think about getting out.
Closed AccountAug 1, 2008
Oh Hell, that's OK. Don't worry about it, we can just bail them right out!!!
stingingnettleAug 1, 2008Submitter
@kemp34I only keep enough in there to pay the bills. ;)
Closed AccountAug 1, 2008
Fair enough.
truzseekerAug 1, 2008
I strongly suggest that if you have an account with WaMu pull out your money and hide it or go somewhere else. I have already had a problem with these thieves that stole my money through acts of unfair business practices.
Closed AccountAug 2, 2008
Buried as inaccurate