Spartan Daily - Serving San Jose State University since 1934
So long WaMu; I hope other banks will learn from your many mistakes
Abstract: Putting money in a bank these days isn't supposed to be a glorified game of Russian roulette. The bank I choose to hold onto my pocket change should still be there when I go to sleep and be there when I wake up. But that changed about a week ago. I was greeted one Friday morning with the news that my bank, Washington Mutual, no longer existed.... Ted Rudow III,MA 10/06/08
The definition of the new era - the post-crash era - hasn't really begun.Well, the Black Monday Stock Market Crash of 1929 actually started about a week before. It began going down but it didn't take the nosedive and the bottom didn't drop out until Monday, October 1929.
The U.S. cannot repay.The same thing could happen to the U.S., borrowing all these billions from Asia and Europe. By and by they've got to tell them, sooner or later they can't pay: "Sorry, boys, we've got it but we can't pay!" And whenever that happens or whenever these crazy money-mad loaners wake up to the fact that they're pouring all that loan money down a U.S. rat hole.
They get scared, they're going to start selling their Dollars because dump them and withdraw their loans from the United States! They talk out of one corner of their mouth like they know the U.S. is ready to collapse, BUT STILL THEY JUST CAN'T BELIEVE IT!
Ted Rudow III,MA
class of 1996