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So last week Wamu (Washington Mutual) was the latest to fall in the recent implosion of banks.  Naturally, as a result the CEO walks away with millions, while the remaining victims are left holding an empty bag with a slit at the bottom.  Normally, I wouldn't care about such issues but Wamu just happens to be my bank.

The frustrations of seeing these things happen are just unbelievable.  I'll probably end up moving my money, since obviously keeping it in Wamu is just too much of a risk at this point.  But I heard people talking about a bank run, which would lead to even further collapses with the possibility of banks not being able to retain their money.  That would result in banks just halting any transactions, leaving people to be unable to touch their money for a while.  Some scary thoughts on those possibilities.

Originally, they said it would be Citigroup taking over Wamu's assets.  I really feared that scenario because I straight out hate Citigroup.  In the end though, it happened to by the government that took over Wamu.  Again, I think the idea is terrible but small people like me can do nothing about it.

Right now, you can't trust banks or financial institutions.  The whole thing is rotten.  It's really unbelievable just how bad things have come.  This definitely is far worse than the dot com bubble.