Quote:
Originally Posted by Joe Wicked
OK, with all these financial institutions in trouble, I am now worried. Yesterday they announced Wamu was for sale. I have been banking with them for several years now. I don't have any amounts that wouldn't be insured so I am not worried about that. I am worried about automatic withdrawals being delayed or checks not being paid on time. Since I travel for work, I like having a large bank that is nationwide so I can go in wherever I am. How do I tell what banks are more stable than others? I was thinking of changing banks, but I don't want to change to a bank that in a few months will be in the same situation.
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As noted above, no need to change yet, on the other hand - if you do change, go with one of the buyers of failed institutions - specifically Bank of America.
CitiBank may buy WaMu - but WuMu has a huge portfolio of crap mortgage loans.