Friday, March 21, 2008

Who wants to own WaMu?

Who wants to own WaMu?

 

A rather relevant question for me. I’ve had a WaMu account for decades, and my credit cards have become part of the WaMu family over the years through acquisition. And, as a passionate Washingtonian, I also care since they’re a local institution, at least in some semblance of the word. If nothing else, they originated here and are headquartered nearby. As they’ve gone from huge to mammoth, they’ve managed to maintain a local bank feel, at least in the branch I frequent most. Now, I’m a pretty low-demand customer. I LIKE banking online and via ATM. Heck, I hardly ever carry cash. But, when I do need to head into a branch, I’ve always felt welcome and speedily dealt with.

 

Anyway, so I have two core reasons to be concerned with the organization and structure of the Co. Certainly, I want the company to stay solvent. However, I don’t want it to become part of a megalith that’s so huge that the customers don’t even lightly blip their radar. Or, perhaps more properly stated, I don’t want to become part of Bank of America, er, part of a bank that supersized. I guess I’ll just need to wait and see what happens. If the Mu tanks, or gets absorbed into some amorphous corpoblob, I’ll need to decide how dissatisfied I am to vote with my feet. Gotta overcome that personal inertia, sad to say.

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