More trouble today on Wall Street. Lehman Brothers is selling a majority stake of it’s asset management, and they are going to spin off their commercial real estate division.

Once reality of that situation sank in, people set their sights on the next poor performer.

As Wall Street scoured the financial industry Wednesday for the next weakest link after Lehman Brothers, it set its sights on a familiar target: Washington Mutual, the nation’s largest savings and loan.

Shares in the troubled lender, one of those hardest hit by the nation’s housing crisis, plunged 30 percent, falling below $3 for the first time since 1991. Investors grew increasingly nervous that, like Lehman, Washington Mutual is running out of time — and options — to save itself.

Not to sound too rude, but it couldn’t happen to a nicer company.

Ever since Washington Mutual bought the company I had a credit account with, life has been a living hell. I admit, the balance is higher than I would like it to be, and we have had a tough time paying it down, of course, part of that is not my fault.

When we got our tax return, I sent them $700 toward my card balance, to help us reduce the debt as much as possible. Making the same payment I had been making (with the new lower balance) we would be able to pay off more of the balance each month. Too bad it didn’t turn out that way.

After holding that card for nearly 10 years, they ‘chased my balance’, which means when they received the $700, they reduced my limit to the very amount remaining. What happened next? Well, when they applied their interest for the month, it took me over my balance. It wouldn’t have gone over the balance if they hadn’t pulled their trick. Because I went over my balance, I had an over-limit fee, and oh yes, because of that, they raised my interest rate, and now after sending them almost $1000 that month alone, my minimum payment ended up being $2 more than it was before I sent them the money.

If I had known what schmucks they were, I never would have sent them that money. I would have had my teeth worked on instead. Their management did everything they could to screw their customers, so they have what’s coming to them.

When I heard the reports today that they are struggling, all I could think was “good, you fuckers, you deserve it”.

That’s all I have to say today.

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