Will the FDIC be able to bail out WAMU if/when it fails?

I decided to get my life savings out WAMU (although it's over 5 days--I'm not anywhere near a branch so have to transfer a chunk at a time). I just don't feel confident about the FDIC to bail out WAMU in a timely manner.

Asked By: cbgb7684 - 9/17/2008
Best Answer - Chosen by Asker
Kaitlyn, I'd like to know who exactly you heard this from,"They told all of their employees at a corporate location in Florida that if they want jobs, they must move to Texas." Were you at that meeting, or is this something heard through the grapevine? I'd like to see the press release from WaMu on this if that was... More
Answered By: DoYourResearch - 9/17/2008
Additional Answers (4)
FDIC will probably oversee a shotgun marriage to another bank. I doubt the doors will ever close or deposits be restricted. WaMu is a valuable franchise and will eventually be very valuable to another bank. It has always been my favorite place to bank, though I wouldn't want to leave over $100,000 there now.
Answered By: Sharon T - 9/17/2008
It is very real and true to WAMU will be closing. They told all of their employees at a corporate location in Florida that if they want jobs, they must move to Texas. If they do not move, then their last days will be in December. They are currently moving everything out of that building and cleaning it out. Everything... More
Answered By: Kaitlyn H - 9/17/2008
Kaitlyn is right, WaMu has a corp office in Jacksonville, Florida. They're on the downward slope for sure.
Answered By: Ggirl99 - 9/17/2008
Could be a long process to get your money from FDIC -- I don't blame you, I would have taken my money out too.
Answered By: ThornBird - 9/17/2008
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