Wamu ?

I support that 100%.

 

I prefferred MSTars myself. Short term munis 1 month usually. The tax advantage made them better deals than CDs

 

what rates are you getting for these one-month deals? I understand the tax advantage of Muni's but it may be offset by the lower rate of return?

 

Well, there's no way Id have $100,000 at this stage in my life. I hope im ok.

 

Doesn't sound like you have much to worry about! Good luck!

 

. Mstars returned .25 or better when you factored in the tax advantage. Slightly lower return pre tax but with the tax advantage, significantly better, sometimes going up to .5. I was a Financial Advisor for JPM Morgan Chase. I'm out of the business at the moment. I plan on going independent at some point in the next year. I just got tired of being pressured to put clients in what I considered poor investments. You cant have your clients short the market, you cant recommend individual stocks. Everything is geared towards putting your clients into mutual funds and managed money. Its a ripoff IMO. When I started you had complete freedom to recommend anything.

 

Nothings worse for a person w/a conscience than to have to sell ripoffs to people who can't and won't be able to tell the difference or know any better.

Good luck to you and thanks for the insight.

 

It's like someone screming "fire, fire" in a movie theatre without there being a fire. The failing of WaMu happened at an all too convenient of a time. Yes there is urgency to get a deal done in order to unclog the financial system, but the urgency exponentially increased when the following morning's headline in all the major papers reads something like "WaMu collapse; biggest Bank failure in United States history"

It's cynical I know, but the timing of it simply leaves me incredulous. With such a tremendous deposit base, I had really thought that WaMu would have been a good acquisiton by JP Morgan or Wells Fargo without government seizure. I guess the debt on their balance sheet was too much to handle for the acquisiton to happen straight up.