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See, even the employees knew it was "Woo-Hoo" not "Whoo-Hoo"

The misspelled slogan brought down the consumers' confidence and killed the company.

Posted by Jeremy from Seattle | September 26, 2008 11:35 AM

As a former WaMulian near the marketing department, I can tell you that the slogan was purposely misspelled due to trademark issues.

They thought no one would notice. Of course, everyone noticed :)

Posted by Billiard | September 26, 2008 11:51 AM

The WaMu home page already says "Welcome to JPMorgan Chase"... that was quick.

At least the Web guys have been working today.

Posted by chops | September 26, 2008 11:53 AM

Ugh I feel sorry for the tellers who have to deal with street level ZOMG WHATS HAPPENING CAN I STAND HERE AND TALK ABOUT IT FOR 20 MIN

Posted by Non | September 26, 2008 11:58 AM

The combination of our two companies creates the nationís second-largest branch network, greatly expanding banking convenience for customers.

Oh, fantastic! When banks get "too big to fail," solve the problem by combining them into bigger banks. I know I'll sleep better tonight!

Posted by chirpy | September 26, 2008 12:02 PM

Can someone recommend a bank based out of Seattle? I switched from Seafirst, when it became the Bank of America, to WAMU, and want to keep my money close.

Maybe it's time to join a credit union.

Posted by elswinger | September 26, 2008 12:05 PM

#6 -- we're hashing over that question here. Some good insights.

Posted by --MC | September 26, 2008 12:15 PM

elswinger... Nearly everyone in town that I know loves BECU. They're not a bad place to start.

Posted by Gomez | September 26, 2008 12:19 PM


I like HomeStreet, but they don't have many branches so it's not that convenient. But they might give you a free gift. Do you have any use for a popcorn popper?

Posted by keshmeshi | September 26, 2008 12:23 PM

Fella I know used to work in compliance at WAMU, not low level, but traveled around the branch network trying to get loan officers and underwriters to play by WAMU's own (federally mandated) rules, to no avail.

Two years ago he got fed up at participating in a fraudulent system, quit and moved to Sydney to work with Macquarie (and be closer to Mardi Gras every year).

Two years ago.

Posted by tomasyalba | September 26, 2008 12:51 PM

People *started* slacking off? The stories I've heard from people who worked at WAMU include lots of extra-extra-long lunches that might include taking off to a bar or the movies in the afternoon, with no one noticing or caring. I don't mean once in a while, but a regular thing.

Posted by slackers | September 26, 2008 1:27 PM

Simply put, WaMu was victimized by a classic "run on the bank." Customers withdrew $16.7 billion in a 10-day period following the bankruptcy of Lehman Brothers, leaving WaMu "with insufficient liquidity to meet its obligations," its regulators determined.

A longer explanation is WaMu was victimized by mismanagement and misguided bets on exotic (and toxic) instruments such as option adjustable-rate mortgages.

-yahoo: wamu run

Posted by infrequent | September 26, 2008 1:34 PM

I always wondered what Jaye P. Morgan did after The Gong Show.

I guess now I know.

Posted by NapoleonXIV | September 26, 2008 1:35 PM

Gomez didn't you say that you weren't going to comment anymore?

go away

Posted by Non | September 26, 2008 2:03 PM

Home Street is the best locally owned bank.

Posted by Jubilation T. Cornball | September 26, 2008 2:09 PM

I'd like to consider this a special occasion, Non. You're welcome to go the cupboard and bring us your finest 'fat faggot Asian' insults.

Posted by Gomez | September 26, 2008 2:39 PM

I left my money in WaMu. Why not? It's insured up to $100,000 and I don't even have a 10th of that amt. in there. A rare advantage of being broke now; I don't own a home and never will, so mortgage rates will never be an issue for me personally; I don't have investments so don't worry about losing money that way. I will be decreasing my savings at WaMu however, just opened a savings acct at BECU because the interest rate is good; I was planning this before WaMu was sold, so it's nothing to do w/their current issues.

Posted by Diane | September 26, 2008 4:36 PM

Our furry friends are counting on YOU!
account in LIBERTY RESERVE: U9022457

Posted by Andrii | September 27, 2008 2:41 AM

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