Washington Mutual Failure

[JudyJudyJudy]

This is being called the largest bank failure in US history. Now what happens if JPMorgan Chase gets in over its head? Aren't these mega-corporations partly the reason for the mess right now?

http://www.msnbc.msn.com/id/26893612

[Earthmama]

OMG. That's just great. I really don't like these banks being so big & now the government getting into them like this. It feels very Monopoly.

[Aeonkat]

WaMu now??? Good lord.

[jessiehannan]

Maybe I am just being paranoid, but the timing of all these things seems more than a little suspicious to me. I am not quite sure why it seems suspicious, but the timing seems very planned to me. Am I the only one thinking this?

[cheryln]

hmmm, ...shocker

[Givebac]

Yes they are to blame. I was watching one of the news channels and back in 99(i think) several of these large banks pettitioned the gov't to be exempt from some rule that they could only borrow $12 for every $1 they had, so they were allowed to borrow $40 for every $1. It wasn't just the little guy borrowing more than he could afford for an overpriced house.

[AuLait]

My parents had purchased a small amount stock when WAMU first started it up because it was local. It split and split and split and split over the years and they were banking on that for their retirement. All gone, or so it seems :(

[TuetonicWillow]

Just some unsolicited advice here- anyone who has money out there in munis, money markets, stock options, Roth ira accts, and so on, there is one safe place to put all that money- the precious metals market.

Even when our economy tanks and our stocks plummet, the world's metal market remains stable. I myself got out of munis and cashed out mutual funds. Forget bonds. I put everything in this. That's how sure I am it's a safe place to invest.

I'd babble on about this if anyone wanted to read it. Anyone can start making money this way- anyone. You can turn $50 into $100 in a week. I wish more than anything I could TEACH this. I seriously would. For free.

[Givebac]

Just some unsolicited advice here- anyone who has money out there in munis, money markets, stock options, Roth ira accts, and so on, there is one safe place to put all that money- the precious metals market.

Even when our economy tanks and our stocks plummet, the world's metal market remains stable. I myself got out of munis and cashed out mutual funds. Forget bonds. I put everything in this. That's how sure I am it's a safe place to invest.

I'd babble on about this if anyone wanted to read it. Anyone can start making money this way- anyone. You can turn $50 into $100 in a week. I wish more than anything I could TEACH this. I seriously would. For free.



Please babble on a bit.

[nicurn]

Maybe I am just being paranoid, but the timing of all these things seems more than a little suspicious to me. I am not quite sure why it seems suspicious, but the timing seems very planned to me. Am I the only one thinking this?


Who are you thinking would benefit from this timing?

[HammBugga]

Just some unsolicited advice here- anyone who has money out there in munis, money markets, stock options, Roth ira accts, and so on, there is one safe place to put all that money- the precious metals market.

Even when our economy tanks and our stocks plummet, the world's metal market remains stable. I myself got out of munis and cashed out mutual funds. Forget bonds. I put everything in this. That's how sure I am it's a safe place to invest.

I'd babble on about this if anyone wanted to read it. Anyone can start making money this way- anyone. You can turn $50 into $100 in a week. I wish more than anything I could TEACH this. I seriously would. For free.

Please go on. We are thinking of buying gold. If you had, say 90 thousand in cash, how much of that would you invest in it?

[Carolina]

Just some unsolicited advice here- anyone who has money out there in munis, money markets, stock options, Roth ira accts, and so on, there is one safe place to put all that money- the precious metals market.

Even when our economy tanks and our stocks plummet, the world's metal market remains stable. I myself got out of munis and cashed out mutual funds. Forget bonds. I put everything in this. That's how sure I am it's a safe place to invest.

I'd babble on about this if anyone wanted to read it. Anyone can start making money this way- anyone. You can turn $50 into $100 in a week. I wish more than anything I could TEACH this. I seriously would. For free.


I've been told by so many ppl this is a safe and great investment. I believe the gold value went up 20% since last year or something like that and it will continue going up. Some economists think it could easily be $2,000 per ounce. I just don't know if it's a good idea to buy some from a place like Swiss America or if it's better to buy it in like an Asian country per se. Please, share your knowledge with us.

[Tweet]

Yes, please tell us more about it, TW!

[Earthmama]

And are pennies a good investment, since there's 1.5 cents of copper in every one of them right now?

[jessiehannan]

Who are you thinking would benefit from this timing?
I am not sure, but I dislike the timing of it with the election. It bothers me. It may very well just be me be paranoid over nothing though.

[leosmommy]

Although gold is a good investment, if everyone panics and pulls thier money out of Mutual Funds, IRA's etc, it will only contribute to the financial crisis and make things much worse.

[paper_]

And are pennies a good investment, since there's 1.5 cents of copper in every one of them right now?


There is very little copper (~2.5%) in pennies younger than 25 or so years. Zinc has been the primary metal in pennies since then.


Precious metals would be a good investment if you think that inflation is going to skyrocket (or the dollar looses tremendous value compared to other currencies - which would likely cause inflation in itself). If you think that the economy is going to TOTALLY crash, then it is a bad investment - unless you are going to keep the the precious metal at your house. If you think that inflation is going to be mild, then the PM market is probably already overpriced.

[RaisingThemLeft]

Just some unsolicited advice here- anyone who has money out there in munis, money markets, stock options, Roth ira accts, and so on, there is one safe place to put all that money- the precious metals market.

Even when our economy tanks and our stocks plummet, the world's metal market remains stable. I myself got out of munis and cashed out mutual funds. Forget bonds. I put everything in this. That's how sure I am it's a safe place to invest.

I'd babble on about this if anyone wanted to read it. Anyone can start making money this way- anyone. You can turn $50 into $100 in a week. I wish more than anything I could TEACH this. I seriously would. For free.

This goes up and down too. My dad has lost money in silver.

[Aeonkat]

There is very little copper (~2.5%) in pennies younger than 25 or so years. Zinc has been the primary metal in pennies since then.


Precious metals would be a good investment if you think that inflation is going to skyrocket (or the dollar looses tremendous value compared to other currencies - which would likely cause inflation in itself). If you think that the economy is going to TOTALLY crash, then it is a bad investment - unless you are going to keep the the precious metal at your house. If you think that inflation is going to be mild, then the PM market is probably already overpriced.

GREAT point. All investments have their risk.

[KaraJ]

I just hope that Wells Fargo stays okay.

[Givebac]

Does anyone trust Paulson? He was CEO of Goldman Sachs before becoming US Treasury secretary in 2006.

[JudyJudyJudy]

Does anyone trust Paulson? He was CEO of Goldman Sachs before becoming US Treasury secretary in 2006.
I honestly don't know much about him. At this point, though, I trust virtually no one.

[Becca75]

Although gold is a good investment, if everyone panics and pulls thier money out of Mutual Funds, IRA's etc, it will only contribute to the financial crisis and make things much worse.

It already is contributing. Check this article out from NPR. It explains it better than I can. http://www.npr.org/templates/story/story.php?storyId=95099470