Is washington mutual being taken over by the federal government, if so when is this estimated??

Question

pls help i need to be sure before i transfer my funds to another bank

Answer 1

No, they are not being taken over or "seized" by the federal government.  It's possible that Washington Mutual could fail, but you need not withdraw your funds unless you have more than $100,000 on deposit with them.  Your savings are insured by the FDIC up to $100,000.

Answer 2

unless yo hav more than 100K in the bank it does not matter.  All accounts are insured to that level.  For you there will be no change.

Answer 3

I don't use WaMu but you could check their balance sheet and look for anything fishy.  It's probably posted on-line, if not ask for it at a local branch.

I advise to use small local banks rather than the monster banks since you can't really track anything that they do.