Thursday, September 25, 2008

!oooH ooohW

That, naturally, is "Whooo Hooo!" backwards, "Whooo Hooo" being the misspelled catch phrase in WaMu's most recent ad campaign. If nothing else good comes out of this Federal / JPM fire sale at least we won't have to watch those ads any more.

What does this mean for me as a WaMu employee? Well, um, I'm not sure. If I worked in a branch I'd be pretty secure, since JPM doesn't have any (or not many) branches in the Seattle market. But I'm not - I'm back-office, and they've got plenty of them in New York. In fact, I'm not exactly sure where I end up in the big mix: does my department roll with the banking assets to JPM, or are we now part of the FDIC? Am I a Federal employee? And if so, does that mean I can arrest people? 'cause that would be kind of cool...

Anyhow, if you want to read up on what business writers and AP journalists and whatnot are saying, here are a few links:

CNN: JPMorgan buys WaMu

AP / Seattle Times: JPMorgan Chase buys WaMu assets after FDIC seizure

Yahoo! Finance: WaMu becomes biggest bank to fail in US history

Seattle PI: WaMu seized, sold

Oh, and on a lighter note, PETA would like Ben & Jerry's to stop abusing all those Vermont cows they milk to make ice cream and instead start abusing Vermont women and make ice cream from breast milk. Don't worry, Boob-Berry won't be in your grocer's freezer section any time soon.

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