Slog - Comments on WaMu Up for Auction http://slog.thestranger.com/2008/09/wamu_up_for_auction Let the bidding begin: Washington Mutual, the struggling savings and loan, has been working on several efforts to save itself, including a potential sale, people briefed on the matter said Wednesday. Goldman Sachs, which Washington Mutual has hired, started the process several days ago, these people said. Among the potential bidders that Goldman has talked to are Wells Fargo, JPMorgan Chase and HSBC. But no buyers may materialize.... Copyright 2008 Wed, 17 Sep 2008 17:03:27 -0800 Thu, 18 Sep 2008 14:40:42 -0800 http://www.movabletype.org/?v=3.34 http://blogs.law.harvard.edu/tech/rss Comment by sepiolida Does that mean they're going under for sure now?

]]> sepiolida http://slog.thestranger.com/2008/09/wamu_up_for_auction#c1144635 http://slog.thestranger.com/2008/09/wamu_up_for_auction#c1144635 Money Wed, 17 Sep 2008 17:38:10 -0800 Comment by nightlifejitters Perhaps they should have let the old fogies in their commercials run things after all.

]]> nightlifejitters http://slog.thestranger.com/2008/09/wamu_up_for_auction#c1144641 http://slog.thestranger.com/2008/09/wamu_up_for_auction#c1144641 Money Wed, 17 Sep 2008 17:49:13 -0800 Comment by Julie in Chicago @2. Ha. That's awesome...

]]> Julie in Chicago http://slog.thestranger.com/2008/09/wamu_up_for_auction#c1144657 http://slog.thestranger.com/2008/09/wamu_up_for_auction#c1144657 Money Wed, 17 Sep 2008 18:07:23 -0800 Comment by jrrrl yah, i mean, free checks for life?! you can't run a business that way! charging ATM fees maybe their only hope.

]]> jrrrl http://slog.thestranger.com/2008/09/wamu_up_for_auction#c1144698 http://slog.thestranger.com/2008/09/wamu_up_for_auction#c1144698 Money Wed, 17 Sep 2008 19:40:24 -0800 Comment by Bellevue Ave jrrrl, is that a joke? cause then theyd lose their only asset; their customer base.

]]> Bellevue Ave http://slog.thestranger.com/2008/09/wamu_up_for_auction#c1144705 http://slog.thestranger.com/2008/09/wamu_up_for_auction#c1144705 Money Wed, 17 Sep 2008 20:00:23 -0800 Comment by kk Until WaMu fesses up to whatever unholy crap it lists as "assets" on its balance sheet (and there is zero indication that anyone at that place is inclined to honesty toward their shareholders and lenders), no one should touch it. Good riddance. The only shame is that as taxpayers we have to foot the bill for the ridiculously underfunded FDIC that will have to bail them out.

]]> kk http://slog.thestranger.com/2008/09/wamu_up_for_auction#c1144716 http://slog.thestranger.com/2008/09/wamu_up_for_auction#c1144716 Money Wed, 17 Sep 2008 20:26:59 -0800 Comment by rob The only thing I have at WaMu is an IRA, through no fault or intention of my own. It started out at First Interstate, which was then swept up by Wells Fargo, but then they were forced to divest and so that particular branch was sold to WaMu. 3 banks, zero moves by me.

Just like bed buddies -- ignore them enough, and they start rotating on you.

]]> rob http://slog.thestranger.com/2008/09/wamu_up_for_auction#c1144746 http://slog.thestranger.com/2008/09/wamu_up_for_auction#c1144746 Money Wed, 17 Sep 2008 21:44:55 -0800 Comment by jme WaMu's giving me 3.4% for my online savings account funds. Guess I'm gonna lose that. Damn. No safe place to put what little money I have anymore.

]]> jme http://slog.thestranger.com/2008/09/wamu_up_for_auction#c1144750 http://slog.thestranger.com/2008/09/wamu_up_for_auction#c1144750 Money Wed, 17 Sep 2008 22:00:59 -0800 Comment by Will in Seattle You can get 7 percent at Washington School Employees Credit Union, jme.

Yeah, not a misprint.

Credit unions - they're where it's at!

(aside to WaMu - yeah, i frickin remember the monorail and you killing it)

]]> Will in Seattle http://slog.thestranger.com/2008/09/wamu_up_for_auction#c1144753 http://slog.thestranger.com/2008/09/wamu_up_for_auction#c1144753 Money Wed, 17 Sep 2008 22:06:33 -0800 Comment by Yellow Brain I bid 800 Quatloos!

]]> Yellow Brain http://slog.thestranger.com/2008/09/wamu_up_for_auction#c1144767 http://slog.thestranger.com/2008/09/wamu_up_for_auction#c1144767 Money Wed, 17 Sep 2008 22:38:45 -0800 Comment by COMTE @9:

Does that cover the entire balance, or just a portion? BECU offers something like 5 1/2%, but I believe it's only for the first $500 in the account.

]]> COMTE http://slog.thestranger.com/2008/09/wamu_up_for_auction#c1144768 http://slog.thestranger.com/2008/09/wamu_up_for_auction#c1144768 Money Wed, 17 Sep 2008 22:41:55 -0800 Comment by NapoleonXIV Is it on eBay? I can't find it. :(

]]> NapoleonXIV http://slog.thestranger.com/2008/09/wamu_up_for_auction#c1144877 http://slog.thestranger.com/2008/09/wamu_up_for_auction#c1144877 Money Thu, 18 Sep 2008 08:52:01 -0800 Comment by joykiller @7, I don't believe IRAs are covered by the FDIC.

]]> joykiller http://slog.thestranger.com/2008/09/wamu_up_for_auction#c1144964 http://slog.thestranger.com/2008/09/wamu_up_for_auction#c1144964 Money Thu, 18 Sep 2008 09:44:42 -0800 Comment by WaMu inside sources They have enough capital to eat their losses until 2010. Most of their losses are from picking up mortgage holdings that have since gone bad, and much of their business comes from retail deposits, which remain viable. The Feds are pushing them to sell because of outside pressure from speculators (and possibly the media) who think WaMu is on the brink. WaMu is not on the brink, but the sale they're being pressured into is a case of the Feds being safe rather than sorry.

]]> WaMu inside sources http://slog.thestranger.com/2008/09/wamu_up_for_auction#c1145372 http://slog.thestranger.com/2008/09/wamu_up_for_auction#c1145372 Money Thu, 18 Sep 2008 14:40:42 -0800