In an unprecedented turn of events, the largest bank failure EVER just occurred last night at 6:15PM Pacific Standard Time.
Fortunately, JPMorgan Chase was there to buy us, so now Washington Mutual is safe. Had not WaMu been purchased, many bad things would have happened, one of which would include the collapse of the FDIC.
I personally am very excited about this. It would have been BETTER if none of this had happened, of course, but at least we won’t have a slew of concerned customers flooding into the bank day by day, closing accounts, and drawing out tens of thousands of dollars. It’s no fun when you’re criticized day by day for the way your company is going. We have LOTS of loyal customers too…but still, I want banking the way it used to be when I first started. That’s what I enjoy…doing regular transactions for everyone, but where everyone is happy.
I can’t wait to get back to that.