Washington mutual bank in risk of bankrupcy?

Question

Washington mutual bank in risk of bankrupcy?

Answer 1

It certainly isn't the soundest but as long as you don't have more than $100,000 in it, FDIC will cover your deposits.  I'd not be worried.

For those who have mortages, there is no risk at all.

Answer 2

~~At this time I have read they are solvent on the banking side (even made a profit last year), but have taken a hard hit in the mortgage department, which is the case with all the banks. I think they are as solvent as any other bank.~~

Answer 3

Yes. Basically, to put it bluntly, yes they are. The reason why is because people are pulling their money out of that company left and right and moving it to a larger bank. This being said they are losing all that capital to play around with and they aren't going to get the money that they need.

If you have less than 100k you'll be fine and covered under FDIC but the problem is that it's a pain to get your money sometimes depending on how quick the FDIC acts. With IndyMac as any idea, it could be business as normal but all it takes is people to start pulling out their money to create a chain reaction.