They experienced a run on the bank- lack of confidence in WaMu is essentially what killed WaMu. This is a microcosm of what is going on in the economy generally- a crisis of confidence.
On Fri, Sep 26, 2008 at 10:24 AM, Cameron Childress <[EMAIL PROTECTED]>wrote: > On Fri, Sep 26, 2008 at 1:22 PM, Beth Fleischer <[EMAIL PROTECTED]> wrote: > > > So were people withdrawing this money because of anxiety over the > economy? > > > I suspect it's a mix. I'll bet most people didn't withdraw their savings > and bury it in a can in the backyard though. Most probably just moved it > to > another bank they felt was safer. Some could also have been moving money > around to prevent having more than 100,000 in any one bank. > > But yeah, some prolly buried it. > > -Cameron ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~| Adobe® ColdFusion® 8 software 8 is the most important and dramatic release to date Get the Free Trial http://ad.doubleclick.net/clk;207172674;29440083;f Archive: http://www.houseoffusion.com/groups/cf-community/message.cfm/messageid:271014 Subscription: http://www.houseoffusion.com/groups/cf-community/subscribe.cfm Unsubscribe: http://www.houseoffusion.com/cf_lists/unsubscribe.cfm?user=11502.10531.5
