What does this mean?

DLIT · 09-26-2008, 08:54 AM

Washington Mutual was recently shut down and its remaining assets were bought out by JP Morgan. My wife has a credit card with them, does this mean she doesn't need to pay it any more?

http://news.yahoo.com/s/ap/20080926/..._mutual_future

Trip · 09-26-2008, 08:57 AM

It means she will be paying to Chase or the government, whoever owns her debt now.

DLIT · 09-26-2008, 09:02 AM

Damn. Wishful thinking, I guess. If it went bankrupt, it'd be a different story though, right?

Trip · 09-26-2008, 09:05 AM

Quote:

Originally Posted by DLIT

Damn. Wishful thinking, I guess. If it went bankrupt, it'd be a different story though, right?

No, that would just protect the company from paying other people, you would have to pay it though. You would have to declare bankruptcy to not pay them.

t-homo · 09-26-2008, 09:15 AM

Stock market has been insane lately with the takeover, bailout plan, banks closing, etc. Warren Buffett is going to invest 5 billion in Goldman Sachs in the next couple of days. Guess we will see what that does.

BobTheBiker · 09-26-2008, 09:53 AM

the short of it is, we're fucked as a country. I'm not going to sugarcoat it cause I'm 99% positive that we're gonna hit another depression.

where to pin the blame though, is a VERY complicated issue and I'm not even going there, cause theres a LOT of people to blame.

OneSickPsycho · 09-26-2008, 10:02 AM

Fuck me... WaMu is my bank and I had NO IDEA this shit happened... and I'm usually up on current events.

z06boy · 09-26-2008, 10:04 AM

Quote:

Originally Posted by BobTheBiker

the short of it is, we're fucked as a country. I'm not going to sugarcoat it cause I'm 99% positive that we're gonna hit another depression.

where to pin the blame though, is a VERY complicated issue and I'm not even going there, cause theres a LOT of people to blame.

I don't agree with the "hit another depression" part but yes it is bad. Just an opinion...we all have one.

I do agree with the "where to pin the blame" part...plenty of "blame" to go around. Most want to blame Bush and the Republicans...which should bear part of the blame...BUT they may want to look a little further back too.

OneSickPsycho · 09-26-2008, 10:05 AM

Quote:

Originally Posted by BobTheBiker

the short of it is, we're fucked as a country. I'm not going to sugarcoat it cause I'm 99% positive that we're gonna hit another depression.

where to pin the blame though, is a VERY complicated issue and I'm not even going there, cause theres a LOT of people to blame.

It's simple... The government solves a small problem, while creating a larger problem... the general public is retarded so they don't realize the source of this shit came from 15 years ago... so the cycle goes...

Rider · 09-26-2008, 10:06 AM

Quote:

Originally Posted by OneSickPsycho

Fuck me... WaMu is my bank and I had NO IDEA this shit happened... and I'm usually up on current events.

Dont worry, Chase is a good bank. I used to be a WaMu when I lived in Seattle and now with Chase. Chase is bigger but very comparable in service.

09-26-2008, 08:54 AM	#1
DLIT Clit Commander Join Date: Feb 2008 Location: Las Vegas Moto: 2012 Ducati 1199 Panigale S Posts: 4,189	What does this mean? Washington Mutual was recently shut down and its remaining assets were bought out by JP Morgan. My wife has a credit card with them, does this mean she doesn't need to pay it any more? http://news.yahoo.com/s/ap/20080926/..._mutual_future __________________ Dress for the crash. Not the ride.

09-26-2008, 09:02 AM	#3
DLIT Clit Commander Join Date: Feb 2008 Location: Las Vegas Moto: 2012 Ducati 1199 Panigale S Posts: 4,189	Damn. Wishful thinking, I guess. If it went bankrupt, it'd be a different story though, right? __________________ Dress for the crash. Not the ride.

09-26-2008, 09:15 AM	#5
t-homo WSB Champion Join Date: Feb 2008 Location: Springfield, MO Posts: 7,146	Stock market has been insane lately with the takeover, bailout plan, banks closing, etc. Warren Buffett is going to invest 5 billion in Goldman Sachs in the next couple of days. Guess we will see what that does.

09-26-2008, 09:53 AM	#6
BobTheBiker too much time on my hands Join Date: Jul 2008 Location: the northern district of god damn Moto: 01 ZX6R, looking for more now. Posts: 1,802	the short of it is, we're fucked as a country. I'm not going to sugarcoat it cause I'm 99% positive that we're gonna hit another depression. where to pin the blame though, is a VERY complicated issue and I'm not even going there, cause theres a LOT of people to blame.

09-26-2008, 10:02 AM	#7
OneSickPsycho Ride Like an Asshole Join Date: Feb 2008 Moto: nothing... Posts: 11,254	Fuck me... WaMu is my bank and I had NO IDEA this shit happened... and I'm usually up on current events.