I just heard this rumor from my wife. A congregation in this area has received a message from the society to take their money out of washinton mutual asap. This is interesting because a couple of economist I read on the internet have said they expect wamu to go under in the next few days. They have been in trouble for quite sometime. I told my wife to get our money out quite some time ago, because the banks weren't looking to good to me. The government always tries to paint a rosie picture of the economy, but for the past year they have been way off base. A couple of weeks before indymac went under the ceo said the bank was making a turnaround. he just didn't say it was over a cliff.
There are rumors and there are rumors, but sometimes we have to be alert when it comes to our finances. There is the FDIC assurance, but if too many banks go under at the same time it could be a problem even the government can't take care of, not to mention they could tie up your money for a time. Hopefully things will straighten out, but the economy just doesn't look too good right now.
Has anyone else heard anything of this sort.