No one can tell you because we don't know...
Posted By: sam on 2008-09-26
In Reply to: Can someone please - sbMT
they don't know...no one is saying anything except in broad terms. It looks like they do need to act sooner than later....WaMu failed overnight, feds stepped in, took it over and sold it to JP Morgan/Chase. Shareholders lost everything they had in it. People who have accounts there and credit cards there are supposed to be fine...it was just shareholders who lost big. That is what I am reading. However, if it had just been allowed to fail...who knows what would have happened. It also fell prey to those subprime loans....no telling where it will stop, truthfully.
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