Do I Have the Reverse Midas Touch?

I reported back in January that my bank in Morocco had spectacularly failed due to fraud. Now I find out that my current bank, Washington Mutual, has also failed, and been bought out by Chase Manhattan. There was no notification on the Washington Mutual website, or an email. The failure was reported by the media in the early morning, and by evening I received an email- from my new bank, Chase, welcoming me to the family, with no information as to why the change took place. To date I still haven't received anything from Washington Mutual.

I can't help thinking the real reason why they failed. Some time while I was in Morocco, they started publicly calling themselves WaMu, in their bid to become bigger and better and more national. They lost touch with their roots. They lost touch with the great state of Washington. Even within the state, they sought to downplay their connections, as if they were ashamed of Washington.

Ironically, I was having to switch banks, as there are no Washington Mutuals in Wisconsin. But there are plenty of Chase Manhattans. However, I have found an excellent local bank, with only a few branches, right here in Waunakee, and with no fees, but they even give you a minimal interest rate on your funds, in a combined checking-savings account. As soon as we ever get to sign our rental agreement and can prove we live here, I'll be signing up with the State Bank of Waunakee, Cross Plains. They tell me they have a great loan:equity ratio, and are in no trouble at all. But you never know. Now I'm putting my money with them, and I'm considering what happened the last two times...


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