Was I the reason for WAMU’s fall?
I wonder if my overdrawn account at WAMU will be forgotten, since they don’t exist anymore. However, my narcissism only leads me to conclude that the twenty-four dollars I owed them was the reason for their fall; yet, I don’t feel bad about it at all.
They charged me twenty-two dollars for overdrawing my account by two dollars, which is simply absurd. They had no regrets or even cared that this situation was more than unfair. So when they cease to exist, I feel nothing. Part of their greed kept mostly poor people in debt, and they had no concern for what was wrong or right.
WAMU was a victim of overexpansion, and unintelligent management. Beyond the horrible customer service, I do admit that the products they offered, such as free checking, were a good deal, and as far as technology is concerned, they kept up with other banks.
The only regrets I have for putting WAMU out of business, are the lower-level employees that will get the boot in order for the CEO to get his full bonus, before retiring, buying a yatch, and fishing off the Mexican Riviera. But I can’t blame the CEO. In his position, I would do the same thing.