WaMu BS

Just saw a commercial for Washington Mutual bank advertising how it’s great that they’re now “part of [JP Morgan] Chase” because customers have just gained access to “14,000 ATMs.” For some reason, WaMu failed to mention in its ad that getting bought by Chase (a recipient of $25 billion in federal bailout money, which the company plans to use not to approve more loans but to buy up more weak banks) was also great for customers because it negated WaMu’s recent triumph as the “biggest bank failure in U.S. history.”