Another One Bites the Dust

The first order of business would be to find out what marketing genius thought that using the lazy, internal shorthand "WaMu" to replace a perfectly respectable sounding "Washington Mutual" was a good idea.

"WaMu" conjures up visions of hip hop, text messaging and killer whales. Which is exactly what a financial institution wants its customers to think of when they decide whether or not to place my hard-earned cash in a bank or under their mattresses ... if they want to ensure mattresses regain favored status as savings accounts.

(Sidenote: It is just for that reason I would never bank with WaMu - I want my money in a respectable insitution with an equally respectable name, complete with a legion of bankers wearing charcoal suits, white shirts and sensible 2" pumps or maroon ties, thankyouverymuch.)

Now, apparently, it doesn't matter.

Last night, the Feds stepped in, stripped them of their assets, their debts and the ridiculous sounding name and sold them off to JP Morgan Chase - which conjures up images of Brownstones, the Upper East Side and, well, J.P. Morgan. Tipping the favor back toward banks vs. mattresses as the best places to store money.

The problem is, it gives one more reason for the frantic pompous political windbags to scurry around Washington in a distracted frenzy, yelling "fire! fire! fire," trying to figure what side is most likely to win, so they can stand there. It's an election year, after all. The whole thing is a bit like musical chairs for old white guys.

Meanwhile, the little guys are scurrying around like ants at a picnic - gathering the last crumbs in hopes that they will be enough to stave off the famine when powers that be ride gleefully off into the sunset, somewhere in the vicinity of an offshore bank account where the three martini lunches come with little paper umbrellas.