Uh oh! With the recent economy being flushed into the toilet and hitting record-breaking lows in the mortgage markets, Washington Mutual has fired their CEO, Kerry Killinger.
Washington Mutual has lost nearly 70 percent of its market value due to the mortgage delinquencies and defaults in this year! Looks like another bank is doomed to go bankrupt; it is definitely time to close my account with them and get another bank. Hell, in these days and times, keeping your money in a safe or under your mattress does not sound so ridiculous with the plummeting market and economy left in the can. I would suggest to any of you that have any accounts with WaMu that you close your accounts with them as soon as possible before their bank closes as many did this year. Remember this, the FDIC can only insure up to $100,000 of your assets that is in a bank account if your personal bank defaults.
Read more on the headlines of CEO Killinger being fired: