WaMu drowning in loan losses

It is unfortunate that innocent people have to suffer, at the cost of this company’s financial situation and reforms. How does this help the economy, if WaMu will have so many unemployed?

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The recent lay offs a Whamu make no sense. They have destroyed their reputation in the industry. Thet get rid of GOOD long time employees who drank the cool aid and they keep the laggards. What a concept.
They have shut down their employe relations group so that the emmployees who have questions about thier deferred earnings and compensation have no one to talk to.
They are positioning the bank for a sale - a fire sale. I can only hope it happens soon. By the way Merry Christmas.
Kerry you are being led down the road by a bunch of theives - wake up before it’s too late. Stop drinking their cool aide.

Well I do think it is time for an
economic reform such as in 2003 was suggested the NESARA National reform.
So get on with it already.

Simple.
1) Pay off your credit card debt in full (use their money as a float).
2) Never EVER take out an adjustable rate mortgage. Never EVER buy a house that you cannot afford. So you won’t have a third car garage and a finished rec-room. It sure beats the curb when your payments go up $500 a month.

This should be no surprise. Here’s a company who increased their loan volume in subprimes and at the same time cut their quality control groups because they slowed the volume of loans being processed.

WONDERFUL….WUMU down the tubesd.
Nothing but a bunch of blood thursty leaches

Nothing is more fitting for the companies that made all the risky loans to fail other than all the people who foolishly took the loans to lose them.

Both are morons. Now maybe the housing market will grow realistically, instead of the dot-com style bloat and overhype it was being subjected to by all these loans to begin with. Good riddance to bad rubbish!

Too little, too late. Thanks, WaMu…I just LOVE being unemployed!

Er, that’s not what inflation does (destroys our children’s future). That’s what Ben wants you to THINK it does. The reason the Fed exists is, as you know, to prevent inflation. Stop and ask yourself what the Fed is. It’s the central BANK. They exist to prevent inflation FOR BANKS, not for YOU. THAT’S where you are lied to. Inflation is GREAT for the consumer. Makes your mortgage easier for YOU to pay, makes Ben’s banking buddies less profit though. Yes, you have to keep up on the wage side (by eventually leaving your job, or promotions), but that’s easier to do than anything the bank can do to revalue your mortgage.

Going from an already C interest rate of 8.9% to a D/E interest rate of 19% means you’ve mismanaged your own credit rating by late payments or deliqencies on other debt. Stop the whining about the outcomes of your own doing.

I AM 61 AND WAS BROUGHT UP THAT ONE NEEDED A DOWN PAYMENT AND CLOSING COSTS WHEN PURCHASING REAL ESTATE. THIS CURRENT MORTGAGE FARCE IS ALL DUE TO SUPPORT A WAR DEBT AFTER THIS AND THE PREVIOUS ADMINSTRATION ALLOWED OUT SOURCING OUR JOBS. THE FED’S PRINTED LOTS OF MONEY, BUNDLED IT AS PROFITABLE DEBT OWED BY PEOPLE WHO WERE JUST ABLE TO GET ONLINE MORTGAGE APPROVAL TO BUY OVERPRICED REAL ESTATE DEALS. ALL THE POLITICIANS TURNED THEIR BACK ON THIS FARCE AS WE ARE NOW INTO A FINANCIAL DEPRESSION (PEOPLE LIVING ON CREDIT.) NEXT WILL COME THE ECONOMIC DEPRESSION AS THE BANKS BEGIN CASHING IN ON THEIR IOU (DERIVATIVES) ON EACH OTHER. SERIOUS STUFF IS ABOUT TO HAPPEN BECAUSE OUR LEADERS GAVE OUR ONLY TRUMP CARD TO THE PAY OFF CHINA–OUR JOBS.
‘SHOW ME THE MONEY.’ HA! IT IS ALL PAPER IN HOCK NOW BEING CALLED THE CREDIT CRISIS- CONSUMER DEBT.

Sometime justice is swift. WaMu spent millions lobbying for change in the bankruptcy laws so average citizens could no longer write off credit cards. They changed the playing field and although there are people who abuse the BK system it was a way to clean the slate. Now people pay their credit cards and let their house go to foreclosure, back to WaMu. Suck it up baby i hope you get everything you wish for!!!!

Wamu charges outrageous interest rates on their credit cards-its about time that Wamu suffered like most of their credit card holders.

I hope the interest rate cut is implemented. Inflation in USA is better than recession in the rest of the world.

If you guys stateside can help, please vote Democrat for the next election, bring home your troops from Iraq/Afghanistan.

War is more inflationary (and wasteful!) than interest rate cuts. Don’t let your tax money be used to take away someone else’s life!

This is just the beginning. I wonder what other surprises we will see coming up from the big investment firms and banks. They don’t have a clue what this garbage is worth right now. Meanwhile the market is acting like everthing is going to be just peachy after as long as the Fed keep cutting rates.
Wait until we get high inflation with slowing growth or worse yet contraction and the Fed needs to start raising rates. Look out below. Looks like the days of an independent Fed are over.

Hope they lose everything! I went to them for a re-fi (with cash out to make the payments while looking for employment) to save my house when my business of 23 years tanked with the housing drop. They strung me along till I was behind in my payments so they could raise my rate from 5% to 10.25%. Kept telling me we would close tomorrow. Found work but I am losing the house because I really can’t afford it now with that interest rate.

is this the end of banking industries or are we going thruogh recession who knews all these loses and lay off is going to have diameno effect and eviancially all of us is going to get effected one way or another you knew what i am saying at first we are not perducing anything is all down by the communist china so all we a nation of consumers and the answer is yes and know this

Somewhere in the Financial recesses of just a few years ago didn’t WAMU start all of this with their Option ARM loan? Their poor financial management is a good reason for me to move my small amount of money to a local credit union.

I had a bank account with them for a year and a half and I had nothing but trouble. They charged me overdraft fees when I never even over drew on my account! I am so glad they are reaping what they sowed. They are a terrible company and my father used to a mortgage lender and he hated dealing with them.

Those who voted for this administration are getting what they deserve. Remember this in November,2008.

no one seems to understand the penticular algorythym that articulates sucah a tepid industry as financial expulsion across many streams of geography. It now seems, albeit without forthsight, that entirely unstable and mitigating factors have created mush larger a hairline fracture in our feeble nations economic threads.

may they lose all their money,
I have their credit, never missed a payment, always paid the minimum, and they wanted to raise my interest rate from 8.9% next month to 19%, so closed out the credit card. If they want to suck to us, my the lose everything!

This should have the Dow and S&P setting record highs tomorrow. What a bunch of sheep and bail-out junkies.

Ok, Helicopter Ben, this is your excuse to further destroy our children’s future (inflation) with your rate cuts for your Wall St buddies tomorrow.