Friday, September 26, 2008

Financial Drama

Ryan and I have been watching the news a lot closer lately because of the talks of Washington Mutual going under, declaring bankruptcy, etc... We have both our checking and savings with them. Although the accounts are insured we were still a little nervous because I know how the government is and if we had to go through them to get our funds back WHO KNOWS how long it would take. Anyway, this morning part of our fears came true. I guess early in the hours Washington Mutual declared bankruptcy. I am not sure the specifics (in what order things exactly happened), but JP Morgan bought WaMu out and are now the owners. I was slightly worried because we both got paid today (Ryan's money going direct deposit and mine being a check I would need to physically deposit) and neither of us really carry cash (I only carry enough for about a full tank of gas at a time). I was worried that maybe our check cards wouldn't work, who knows. I got home this afternoon and checked on the WaMu site and was very relieved to read the messages from JP Morgan. I think that they did a great job to calm the nerves of their clients. They walked through what would be staying the same, what would be changing, etc. Check out their little letter to customers here. Hopefully this is a good sign (don't get me started on the economics of the government bail out thought). I will cross my fingers, but then again my hope isn't in what is here in this world...

1 comment:

Anonymous said...

i know where your treasure lies.