We all knew this day was coming but didn’t know exactly when. The day finally came this morning and the FDIC had taken over it then sold everything over to Chase. A quick and smooth transaction. Lucky for everyone who banks with WaMu, Chase assumed all deposits so that no one had to lose anything from the deal. Better than what happened with those people down at Indymac Bank.
So which bank is next? I predict that when this is all said and done, only three banks will remain: Bank of America, Chase and Wells Fargo.
Watch your money everyone.
