[dalereed]

“The run didn’t get started until Wamu went under”

They didn’t go under, there was an orchastrated run of 18 billion on them and the Feds gave them to Chase.

I saw it coming and grabbed a $200k 5% 13 month CD from WAMU When it happened.

I hope that WAMU’s law suit against the Fed and Chase is successful and Chase gets kicked out.

[muawiyah]

They simply didn't have the funds to cover the withdrawals being demanded ~ and "went under". The banking operations, however, were first stripped from the WaMu holding company and assigned to Chase.

The holding company filed for Chapter 11.

[muawiyah]

Nikkei is DOWN 2.74% already ~ WOW!

Hold on for a ride tomorrow.