WTG WaMu

Kex

shack wrote: »

... Let's stop blaming and JUST FIX IT!

Thank you! +1!

brettw22

THat was my point too Shack......instead of cherry picking one or two people that did SOMETHING that might have caused it (which both sides can do), put it all aside and get something put together that causes both sides to agree and fix the problem.

sucks2beme

There's a whole lot of morons who took loans they couldn't pay off.
Then there's the guys who were paid to protect the interests of the
lenders. These are the highly paid pros who are supposed to underwrite
the loans and set up rules. A lot of loans in the last five years were
set up as 80/20 loans. That is, they gave out two loans, one at 80%
of the house price, and another at 20%. This was to avoid PMI, which would
of helped protect the lender, but reduced the ability of the borrower to
buy that dream house. And 0 payment loans, where the borrower only pays
interest.
There has always been those "morons". That didn't change. The lenders just
got lazy and played fast and loose with someone else's money. The big
wheels running the show did this to their companies to make a quick buck and
get their big bonuses. It like shipping your amp to a guy with 25 quick posts
before he pays for it. NOT A VERY GOOD IDEA.

Face

I heard that everyone who ran to WAMU in the last few weeks to close out their accounts was the last nail in the coffin.

shack

brettw22 wrote:

THat was my point too Shack......instead of cherry picking one or two people that did SOMETHING that might have caused it (which both sides can do), put it all aside and get something put together that causes both sides to agree and fix the problem.

I know it was Brett...I was just expanding a little.

hearingimpared

Gentleman, I for one am not blaming the CEO of WaMu for the current state of affairs. What I am pist off at is that the CEO had to give the okay to lower credit lines on credit cards which if I'm not mistaken they have a right to do, however, they could have given their loyal customers some kind of notice and explaination before doing so.

I still haven't received a written explaination as to why and when I speak to customer service, they tell me that they can't discuss it with me until I receive "the letter."

Receiving a letter would have prepared me for the situation I was facing as well as saving me the embarrassment of my card being declined, as well as changing to another card membership to various music and movie clubs that automatically take the funds out of a credit card and avoid reactivation charges and the overall hassle. All of those were cancelled without my knoweldge (until I received the email of course from the club stating such) because of the lowering of my credit line.

The most irritating thing is the credit line was dropped to the current balance so there was no credit available.

So again I say EFFFFF WaMu and I stand by my statement in my previous post.

Polk user

Chris Dodd and Barney Frank are just despicable. Frank was more interested in getting his member sucked on by his boyfriend from fannie mae than he was on protecting the public.

http://businessandmedia.org/articles/2008/20080924145932.aspx


http://www.youtube.com/watch?v=_MGT_cSi7Rs&eurl=http://gatewaypundit.blogspot.com/2008/09/devastating-dems-refuse-to-reform.html

shack

Polk user wrote: »

Chris Dodd and Barney Frank are just despicable. Frank was more interested in getting his member sucked on by his boyfriend from fannie mae than he was on protecting the public.

http://businessandmedia.org/articles/2008/20080924145932.aspx


http://www.youtube.com/watch?v=_MGT_cSi7Rs&eurl=http://gatewaypundit.blogspot.com/2008/09/devastating-dems-refuse-to-reform.html

I think you made it clear you dislike the two of them in an earlier post.....No get over it and move on...:rolleyes:

ohskigod

hey, side note, all my online payments from bills paid out of my WAMU account cleared. woohoo!!!!

nadams

Unfortunately, they have not rid my CC of charges Guess they might actually want that money. Then again, they also haven't frozen the account yet, either. So, I could also get myself, and WaMu, in MORE debt.

Also, the reason I opened my WaMu card was because of the low 10% interest rate. I also had a habit of carrying a balance on that card. Then, one month, I noticed my interest charge had doubled... checked things out and, yup, they'd boosted my interest rate to 20% from one month to the next, with no notification to me. I asked them how I could make that go back down, and their response was "close the account, and pay off the balance." Great customer service... and this is for someone with a 750 credit score... perhaps an asset to their lending business?

brettw22

Most cards will bounce your rate if you're so much as one day past due, so that never helps.

Never EVER close an account with a balance on it.........it reflects poorly on you, as does you asking for your credit limit lowered where the buffer between credit limit and balance close so your available/balance ratio looks worse..........

Polk user

shack wrote: »

I think you made it clear you dislike the two of them in an earlier post.....No get over it and move on...:rolleyes:

Chris Dodd was the NUMBER 1 Senate recipient of money from Fannie Mae. Obama was #2.

It's too bad this isn't Japan. Dodd and Frank would be forced to apologize on TV and then they would go home and commit suicide. Here in America they just go on TV and tell us that THEY just saved America.

brettw22

Got one more in ya poser? c'mon..........

Polk user

brettw22 wrote: »

Got one more in ya poser? c'mon..........

Sure, I'm glad I can help.


In 2003, Barney Frank opposed Bush administration and Congressional Republican efforts for the most significant regulatory overhaul in the housing finance industry since the savings and loan crisis. Under the plan a new agency would have been created within the Treasury Department to assume supervision of Fannie Mae and Freddie Mac, the government-sponsored companies that are the two largest players in the mortgage lending industry.

"These two entities, Fannie Mae and Freddie Mac, are not facing any kind of financial crisis," Frank said. He added, "The more people exaggerate these problems, the more pressure there is on these companies, the less we will see in terms of affordable housing."

Hey Frank, affordable housing is not a right. Some people just can't afford a house and that's the way it will have to stay. Maybe you can put a personal ad in the paper and have some poor person move in with you. Just make sure he's not running a male prostitution ring....

http://www.washingtonpost.com/wp-srv/local/longterm/tours/scandal/gobie2.htm

brettw22

Think posting more makes you look anything less than lacking in the brain department?

hearingimpared

brettw22 wrote: »

Never EVER close an account with a balance on it.........it reflects poorly on you, as does you asking for your credit limit lowered where the buffer between credit limit and balance close so your available/balance ratio looks worse..........

Brett why does it reflect poorly on me if I close the account with a balance on it?

PS: WaMu lowered the credit limit to within 16 dollars of the current balance so you are telling me that they are making me look "worse" for their reasons? Something is amiss here and I can tell you, their customer service is not very good. I guess the employees are in fear for their jobs and it is showing in the service.

fatchowmein

hearingimpared wrote: »

Gentleman, I for one am not blaming the CEO of WaMu for the current state of affairs. What I am pist off at is that the CEO had to give the okay to lower credit lines on credit cards which if I'm not mistaken they have a right to do, however, they could have given their loyal customers some kind of notice and explaination before doing so.

I still haven't received a written explaination as to why and when I speak to customer service, they tell me that they can't discuss it with me until I receive "the letter."

Receiving a letter would have prepared me for the situation I was facing as well as saving me the embarrassment of my card being declined, as well as changing to another card membership to various music and movie clubs that automatically take the funds out of a credit card and avoid reactivation charges and the overall hassle. All of those were cancelled without my knoweldge (until I received the email of course from the club stating such) because of the lowering of my credit line.

The most irritating thing is the credit line was dropped to the current balance so there was no credit available.

So again I say EFFFFF WaMu and I stand by my statement in my previous post.

They did this to my wife. Fortunately, we've been on a debt elimination plan so I've paid off and closed out her WAMU cc, a joint WAMU checking, joint WAMU savings, and her personal WAMU checking acct along with our deposit box and moved it all to my bank accts plus I get to tell her "I told you so".

I never liked WAMU. Good luck to all you JPM/Chase folks not that I think you need it.

kgingras

Polk user wrote: »

Chris Dodd was the NUMBER 1 Senate recipient of money from Fannie Mae. Obama was #2.

It's too bad this isn't Japan. Dodd and Frank would be forced to apologize on TV and then they would go home and commit suicide. Here in America they just go on TV and tell us that THEY just saved America.

In better days, there'd have been a mob of citizens outside his residence, all carrying torches and pitchforks.

He's a brazen little cuss, I'll give him that.

wizzy

Polk user wrote: »

... In 2003, Barney Frank opposed Bush ...

... administration and Congressional Republican efforts for the most significant regulatory overhaul in the housing finance industry since the savings and loan crisis. Under the plan a new agency would have been created within the Treasury Department to assume supervision of Fannie Mae and Freddie Mac ...

That sounds damning, especially if one is stupid enough to believe this "new supervising agency" would have actually done a damn thing to change the eventual outcome

W

polkatese

This morning Citi took over Wachovia.

The End of the "W" era.....

Polk user

brettw22 wrote: »

Think posting more makes you look anything less than lacking in the brain department?

I'm sorry if you don't like the truth. You can always put me on ignore. If you can find any Republicans that are as guilty as these 2 clowns, go ahead and post some links as I'm all for exposing EVERY scumbag that got us in this mess. And I will say that Bush should be held accountable but in 4 months it won't matter as he will be gone.

Do you have any links that exonorate Dodd and Frank? I didn't think so.


http://www.nypost.com/seven/09292008/postopinion/editorials/the_meltdowns_acorn_131274.htm