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Thread: Wamu to Indymac

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    Featured Member yogibear179's Avatar
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    Default Wamu to Indymac

    My mothers Washington mutual office was closed down yesterday(shes loan offiver). She still has her job (working at home mostly) but most of the people she worked with have gotten layed off. Shes afraid of what might happen in the future and got offered a job at Indymac...

    ive never heard of it until recently.... im sensing that all similar company's are doing bad and that she should just stay with her company..What do you think?


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    Default Re: Wamu to Indymac

    tends to indicate that bank losses will get higher not lower.



    tends to indicate that IndyMac's parent corporation is deeply tied to the worst of the California subprime mortgage mess



    clearly shows that IndyMac is #4 nationwide in terms of offering above market interest rates for short term CD's, which is arguably directly related to their impending 'cash' shortage problems. WaMu's interest rate didn't even make the first page.

    From the standpoint of a disinterested bystander, it's arguable that WaMu and IndyMac are both in very deep s#!t in regard to future subprime losses. In that scenario, it is highly likely that both institutions will make additional future cutbacks in order to stave off bankruptcy. Since length of service may count for something, a WaMu employee with years of service has a higher probability of surviving future cutbacks than a new hire at IndyMac. But realistically speaking, in the absence of an Arabian Knight with several billion dollars to invest, both banks are probably toast by the end of 2008 as more and more subprime ARMs reset.

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    Featured Member yogibear179's Avatar
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    Default Re: Wamu to Indymac

    Quote Originally Posted by Melonie View Post
    . But realistically speaking, in the absence of an Arabian Knight with several billion dollars to invest, both banks are probably toast by the end of 2008 as more and more subprime ARMs reset.

    ah i was afraid of that. Thanks so much for the information


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