How Lehman Brothers Took Out Washington Mutual

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I have 2 broker purchased CD's with Lehman Bros... will these STILL be protected by FDIC ?? Has anyone taken over - bought out Lehman Bros ???
Not much EVER on news about Lehman failure... but alot about other banks and wall street. Lehman Bros CD safety is IMPORTANT to people like me.
Please advise update - status of Lehman broker CD's ??
Ann

ann of 1:14PM September 30, 2008

I invested 20k in corporate bonds with WaMu, which was due on 1-15-09. Have I lost all my investment? Is there any hope at all of getting anything back? Mind you that on 9-23-08 I received a copy of a letter from Chief Executive Office, Alan Fishman, assuring custormers that everything was fine and dandy.

Adri of KY 3:47PM September 28, 2008

I don't get this. How does the government hand 40 billion in assets to Chase for 2 billion? It makes no sense, especially with the bailout only a day or two away. I also read they never even noticed WAMU, they just did it. Doesn't this seem odd?

Frank Munz of CA 3:36PM September 28, 2008

Savings and checking account holders will not lose their money given a balance of less than $100,000. As the article above states, Lehman Brothers' bankrupcy caused the BIG WaMu depositors to withdraw uninsured funds (anything over $100,000).

Julio A. Jimenez of NC 2:33AM September 28, 2008

what will happen to our wamu investments (mutual funds,) did we lose our investment? Though par value is almost nothing, do we have hope it will still gain in the future, or will this be written off?

libby of CA 10:00PM September 27, 2008

I have a Lehman Brothers Holdings corporate bond which I bought though WAMU Investments Inc. What will happen to it?

Christopher of WA 7:13PM September 27, 2008

You are insured up to 100k wht the Federal Deposit Insurance Corporation. (FDIC) Pulling ones money out of WM, if under 100k, is completely un necessary. This is not 1929, banks have insurance underwriting through the US Gov't.
That said, I personally believe we are headed to a 1929 within the next five years. This was just a sampler. People need to stop buying beyond their means. Loans are for homes and that is IT! Loans are for legal citizens and that's IT! Loans are for those who can afford to pay them and that's IT! It's that SIMPLE!

NOBAMA! of WA 9:22PM September 26, 2008

People lose money daily. What do you mean by this?

of 9:16PM September 26, 2008

will people lose their money?

rosy of CA 9:01PM September 26, 2008

I'm sure their insured, they are saying that the personal accounts are safe, the only change that regular consumers will see is that statements will probably say JP Morgan Chase instead of WaMu. Unless there have been changes from last night's reports

of CA 7:03PM September 26, 2008