Originally published September 25, 2008 at 12:00 AM | Page modified September 26, 2008 at 11:02 AM
Comments (0) 
E-mail article 
Print view
What happens to WaMu depositors, stockholders
If you are a WaMu depositor, your new bank is JPMorgan Chase and your money is safe.
By Seattle Times staff
What happens if I'm a WaMu ...
Depositor: Your new bank is JPMorgan Chase, and your money is safe. Deposit interest rates and account numbers might change, but it could take months. Banks typically give plenty of notice about such changes.
Borrower: Your new lender is JPMorgan Chase. Continue to make payments as usual.
Stockholder: JPMorgan Chase bought WaMu from the FDIC, not from its shareholders. When a bank fails, shareholders are the last to be paid; they will receive nothing.
Employee: Branch employees could be the safest, because there is so little overlap between the banks' branches. Headquarters employees are not as secure, because JPMorgan already has many of those functions. It's too soon to know how many of those jobs will be lost.
Copyright © 2008 The Seattle Times Company
More Business & Technology headlines...
E-mail article 
Print view Share: 
Digg 
Newsvine
Chase shrugs off loss of CD investors
Sunday Buzz: Expedia, Intelius, Classmates slapped by Senate report
Denny Triangle gains skyline, but tenants slow to come
UPDATE - 08:56 PM
Senate Democrats at odds over health care bill
Your Funds: Money for nothing: Some investors pay for advice they never get
Raw Video | Real Salt Lake receives the MLS Cup trophy
Real Salt Lake is handed the 2009 MLS Cup trophy at Qwest Field, November 22, 2009.
Raw Video | Real Salt Lake fans celebrate
Raw Video | MLS Cup Opening Ceremony
Real Salt Lake fans enter Qwest Field
LA Galaxy's David Beckham
Real Salt Lake's Kyle Beckerman
MLS trophy arrives in Seattle
Chittenden Locks Inspection
Full interview with New Moon actors
Interview with New Moon actors
nwjobs
Post a comment
Michelle Goodman blogs about work/life balance.
How to tell your office you're gravely ill
Post a comment
nwautos
Choosing a new sedan? Weigh the impact of your choice on your wallet and on the planet.
Post a comment
Open Houses | Find this weekend's open house listings.  Or search by location: |
- 'The Road' takes Viggo Mortensen to Mount St. Helens and Astoria, Ore.
- Craigslist adoption ad: A plea by young mother-to-be? A scam?
- Tugboat sinks on Seattle's waterfront
- Child-support error costs nearly $21,000
- Italian lead prosecutor argues Knox motive was hatred
- Italian prosecutors request life sentence for UW student
- Man shot in chest on E. Union Street in Capitol Hill
- Washington state wines make annual best-of list
- Chase shrugs off loss of CD investors
- Mariners Blog | A Mariners-Tigers swap makes a whole lot of sense for both teams
- Senate vote clears hurdle 239
- Vikings easily beat the Seahawks 128
- Child-support error costs nearly $21,000 121
- Tight Senate vote launches health care over hurdle 120
- Palin excitement builds in Tri-Cities 119
- Cutting through breast-cancer confusion 90
- Game thread 70
- New York terror trials will restore faith in rule of law 56
- Historic health care bill clears Senate hurdle 51
- Chase shrugs off loss of CD investors 50
- Washington state wines make annual best-of list
- Nonprofits get creative using Twitter and Facebook to make donation easier
- It's possible to recover a life lost to hoarding
- Lynnwood is reinventing itself — again
- Great places to cross-country ski for free (or almost) in the Methow
- 'The Road' takes Viggo Mortensen to Mount St. Helens and Astoria, Ore.
- Child-support error costs nearly $21,000
- Recipes: Sesame Pork Roast, Sour Cream Mashed Potatoes, Gingerbread with Lemon Sauce and more
- Banff: powder, peaks & purity
- 175 foster kids in Washington get 'forever families'
