Washington Mutual - Beware Investors

Remember Great Western Bank? I do. There was a branch located right near my office where we have been located since almost the dawn of time. I loved Great Western bank. Everybody knew my name, turnover was almost non-existent, and all the employees knew our monthly business banking rythym. There is a considerable amount of money that filters through my office. None of it's mine, but I'm responsible to see that it gets to where it's supposed to go. It's not unusual for my business to have *lots* of money in one of the business accounts.

Then one sad, tragic day Great Western was bought out by Washington Mutual. Overnight the familiar faces were gone, and every month , due to excessive turnover, I had to explain the monthly business transactions to an employee who still used Clearasil and just got his drivers license. Red light number one.

Then one day I needed to change signers on one of the business accounts. When the pubescent, acne-prone employee pulled up the account, he rattled off names on the account of people I had never heard of! Then I checked the other accounts, and again, there were names listed as signers that I had never even heard of. Thank GOD no money was missing, but the incident left me scarred and I pulled our business out immediately and changed to a local bank. Red light number two.

Now today I read in the Santa Rosa Press Democrat that Washington Mutual is a target of activist investors pissed off over the plunging stock prices that are entangled in the sub prime mortgage debacle.

No shit Sherlock. I've known for years that Washington Mutual is a temple for cluster fucks who have no idea what in the hell they are doing, and don't give a shit that they don't. I feel sorry for the people who trusted them. Investing under the mattress is looking better and better everyday.