What does this mean?

DLIT · 09-26-2008, 09:54 AM

Washington Mutual was recently shut down and its remaining assets were bought out by JP Morgan. My wife has a credit card with them, does this mean she doesn't need to pay it any more?

http://news.yahoo.com/s/ap/20080926/..._mutual_future

Trip · 09-26-2008, 09:57 AM

It means she will be paying to Chase or the government, whoever owns her debt now.

DLIT · 09-26-2008, 10:02 AM

Damn. Wishful thinking, I guess. If it went bankrupt, it'd be a different story though, right?

Trip · 09-26-2008, 10:05 AM

Quote:

Originally Posted by DLIT

Damn. Wishful thinking, I guess. If it went bankrupt, it'd be a different story though, right?

No, that would just protect the company from paying other people, you would have to pay it though. You would have to declare bankruptcy to not pay them.

t-homo · 09-26-2008, 10:15 AM

Stock market has been insane lately with the takeover, bailout plan, banks closing, etc. Warren Buffett is going to invest 5 billion in Goldman Sachs in the next couple of days. Guess we will see what that does.

BobTheBiker · 09-26-2008, 10:53 AM

the short of it is, we're fucked as a country. I'm not going to sugarcoat it cause I'm 99% positive that we're gonna hit another depression.

where to pin the blame though, is a VERY complicated issue and I'm not even going there, cause theres a LOT of people to blame.

OneSickPsycho · 09-26-2008, 11:02 AM

Fuck me... WaMu is my bank and I had NO IDEA this shit happened... and I'm usually up on current events.

Gas Man · 09-26-2008, 11:14 AM

Not bankrupcy... but this would rock for US
http://www.twowheelfix.com/showthrea...3834#post73834

z06boy · 09-26-2008, 11:19 AM

Quote:

Originally Posted by Gas Man

Not bankrupcy... but this would rock for US
http://www.twowheelfix.com/showthrea...3834#post73834

Ok that would work for me and the wife. We could let those 250 shares of AIG stock go that we bought the other day in exchange for a piece of that pie !!

smileyman · 09-26-2008, 11:47 AM

Quote:

Originally Posted by z06boy

Ok that would work for me and the wife. We could let those 250 shares of AIG stock go that we bought the other day in exchange for a piece of that pie !!

See my post in the AIG thread...

The only problem with these corporations going broke is that alot of peoples money, their real money for retirement ect. was tied up in these companies stocks. This isn't a case of these folks debt disappearing, but their savings and funds they should have been using to pay their home down, payoff those credit cards were tied up with these companies stock. Some people obviously forgot that there was risk in the stock market...

09-26-2008, 09:54 AM	#1
DLIT Clit Commander Join Date: Feb 2008 Location: Las Vegas Moto: 2012 Ducati 1199 Panigale S Posts: 4,189	What does this mean? Washington Mutual was recently shut down and its remaining assets were bought out by JP Morgan. My wife has a credit card with them, does this mean she doesn't need to pay it any more? http://news.yahoo.com/s/ap/20080926/..._mutual_future __________________ Dress for the crash. Not the ride.

09-26-2008, 10:02 AM	#3
DLIT Clit Commander Join Date: Feb 2008 Location: Las Vegas Moto: 2012 Ducati 1199 Panigale S Posts: 4,189	Damn. Wishful thinking, I guess. If it went bankrupt, it'd be a different story though, right? __________________ Dress for the crash. Not the ride.

09-26-2008, 11:14 AM	#8
Gas Man Trip's Assistant Join Date: Feb 2008 Location: Imported from Detroit Moto: 2009 HD Street Classic Posts: 12,149	Not bankrupcy... but this would rock for US http://www.twowheelfix.com/showthrea...3834#post73834 __________________ -Chris "Why pay somebody else to fuck up your bike?" Run Amsoil Product

09-26-2008, 10:15 AM	#5
t-homo WSB Champion Join Date: Feb 2008 Location: Springfield, MO Posts: 7,146	Stock market has been insane lately with the takeover, bailout plan, banks closing, etc. Warren Buffett is going to invest 5 billion in Goldman Sachs in the next couple of days. Guess we will see what that does.

09-26-2008, 10:53 AM	#6
BobTheBiker too much time on my hands Join Date: Jul 2008 Location: the northern district of god damn Moto: 01 ZX6R, looking for more now. Posts: 1,802	the short of it is, we're fucked as a country. I'm not going to sugarcoat it cause I'm 99% positive that we're gonna hit another depression. where to pin the blame though, is a VERY complicated issue and I'm not even going there, cause theres a LOT of people to blame.

09-26-2008, 11:02 AM	#7
OneSickPsycho Ride Like an Asshole Join Date: Feb 2008 Moto: nothing... Posts: 11,254	Fuck me... WaMu is my bank and I had NO IDEA this shit happened... and I'm usually up on current events.