OK. I was stupid when I took the bait from Washington Mutual Bank a couple weeks ago and opened a pair of new accounts. Now I am a little bit more than anxious with the closure of WaMu by the Federal Deposit Insurance Corp. (FDIC). Then we hear the mid-week action by the insurance authority has brokered an asset-only sale to JP Morgan Chase. So now WaMu is part of JPMC to create an even larger Chase Bank. Oh, I can only remember when Chase was a much smaller bank, before it was gobbled up by the venerable Chemical Bank back in 90s and Chemical decided to keep the Chase Manhattan name because of it’s long history. Then JP Mogan came into the picture, which created JP Morgan Chase.
While I know my money is safe because I am under the insured limit, I am concerned with when I’ll be able to get my grubby little hands on my precious few dollars. Just one more thing to pull my hair out over!
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