Chase to purchase Wamu?

[aftermath]

There has been some talks/speculations that Chase might buyout Wamu (Wamu got themselves into a heap of financial trouble over all the sub-prime mortgage loans they handed out a few years ago). This would also be a strategic move on Chase's part to expand Chase into the West Coast since they're predominantly East Coast based bank.

So if Chase purchases Wamu, does that mean my cruddy little Wamu card will potentially become a Chase card?

[Anonymous]

IMO- it is posible - bit I think Chase has looked at it and will wait for the stock price to go even further down.

Stockholders at at the bottom of the list if FDIC were to move in.

and at -$10 EPS I woould not touch them with a 10 ft pole.

3.3 Bil loss 2nd QTR is 1/2 of the total value of their stock.

[Anonymous]

I certainly hple not. WaMu bought Providian I think. I was relying on chase for my first high prime in just a few months and I was denied by WaMu in my earlier rebuyilding days for the Providian I had in a BK long ago.

[FretlessMayhem]

I definitely see it as possible. WAMU has reported some substantial losses, but as Timothy said, I think Chase might bide their time for the stock to plummet further.

[fused]

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aftermath wrote:

So if Chase purchases Wamu, does that mean my cruddy little Wamu card will potentially become a Chase card?

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I say let's hope not.

[aftermath]

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@fused wrote:

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@aftermath wrote:

So if Chase purchases Wamu, does that mean my cruddy little Wamu card will potentially become a Chase card?

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I say let's hope not.

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Why not? I would think people would prefer having a Chase over a Wamu, especially if it is automatically converted over.

[Uniqua]

Oh my. Say it tisn't so!

I included Chase Auto in my BK. Repaid it in the BK but I don't want them to try to oust me like WaMu does Orchard CC holders.

[Anonymous]

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Uniqua wrote:
Oh my. Say it tisn't so!

I included Chase Auto in my BK. Repaid it in the BK but I don't want them to try to oust me like WaMu does Orchard CC holders.

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Providian

[Uniqua]

Whoops! My bad, Providian.

I hear so many bad things about the two I can't distinguish one from the other!

[Anonymous]

Yep. Happened to me. I'm grateful now as I really don't want to have anything to do with WaMu now that I know better.

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cheddar wrote:

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Uniqua wrote:
Oh my. Say it tisn't so!

I included Chase Auto in my BK. Repaid it in the BK but I don't want them to try to oust me like WaMu does Orchard CC holders.

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Providian

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