Wamu 12 mo CD = 5%. Take it? It's FDIC insured.

Quote from Bob111:

the guy was pretty old too..what happens with BRK, if he dies?
what happens with your money in event such as 9/11? 2000-2002 market?
people may have a hundreds of reasons to put money into cd's or some other fixed income instrument.
cd have no liquidity problems as far as i know.another solution is cd ladder
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no point in arguing with him- he's clearly a young kid with no concept of diversification, black swans, the absolute power of liquidity, or the concept that, for some of your assets, a relatively low return in exchange for no risk to principle makes sense to all but the young and/or stupid.

if running still doesn't get it... i suggest you contact a conservative yield investor in Japan who bought that conservative stock back in 1988 vs the crap rates Japanese banks pay. the crap Japanese bank rates are looking pretty good now 20 years later...
 
I like that terminology.

However a bailout of WM isn't as certain as the bailout of FRE / FNM.

There is a size (I have no idea what it is) where a bank is too small to save.

WM may or may not be too small - we'll find out when it fails in the next couple of years.


Quote from Daal:

buying high yield troubled bank CDs and debt to piggyback on the taxpayer should have a name. I suggest 'pulling a Gross'
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here's an application, 'hey guys should I buy these 5% fdic insured cds?I'm just looking for a conservative way to boost my gross returns'
 
Quote from Daal:

here's an application, 'hey guys should I buy these 5% fdic insured cds?I'm just looking for a conservative way to boost my gross returns'
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No reason to buy a CD now and lock up your money.

Just buy a FNM or FRE fund and get a higher rate and 100% backed by the US Treasury.
 
Quote from gangof4:

no point in arguing with him- he's clearly a young kid with no concept of diversification, black swans, the absolute power of liquidity, or the concept that, for some of your assets, a relatively low return in exchange for no risk to principle makes sense to all but the young and/or stupid.

if running still doesn't get it... i suggest you contact a conservative yield investor in Japan who bought that conservative stock back in 1988 vs the crap rates Japanese banks pay. the crap Japanese bank rates are looking pretty good now 20 years later...
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yep..i still remember dow futures -1200 points on first day after 9/11 and mark haines hiding under the table on cnbc with helmet from WW2 on his head.
yes, i'm not kidding, it was on live tv and it's not a joke
 
Ing had one a few months back, pretty cool around 3%, auto bill pay, kind of a hybrid. Much better than a typical checking. I have done it because switching all my bill pays pain
 
Well after some thought think I will pass don't the need the extra stress of imminent failure on WAMU's part for an extra 1% since my current credit union now has 4%.
 
Indymac CD, to me, is as good as treasury, with much higher interest rate. Because the bank is owned by the government.

Quote from Clubber Lang:

That is not true.

I continued to receive interest on my Indymac CD after they went under.
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