I have two bank accounts, Wamu and Citi.

Last Thursday Wamu declared bankruptcy and its retail banking assets were sold off to JP Morgan Chase for 1.9 billion dollars. I did not rush to a Wamu branch to join the frenzied masses who were withdrawing every penny from their accounts, giving short comfort in being told that their money was FDIC insured.

Instead I logged onto wamu.com and read the message from Chase that everything was staying the same – for the next six months anyway….. Read the full story