WaMu is Fu’ed
Didn’t take long for the website to change, did it? WaMu customers to hit the site this AM (and I’m guessing that spike in traffic has already been planned for) will notice an interesting “promotional” pod:
“WaMu Customers, Welcome to JPMorgan Chase”
Now, call me a dick (it’s ok, many people do), but this is a fucked up image to show customers. Two colorfully dressed children playing gotcha, or peak-a-boo, or OH GOD DON’T LOOK AT ALL OF OUR SHIT GOING TO HELL DUE TO THE MORTGAGE CRISIS WHICH WE MADE AN ASS LOAD OF MONEY OFF OF THEN LOST OUR TRUST FACTOR AND NO ONE WILL LEND US MONEY NOW… OH, AND DON’T LOOK AT YOUR ACCOUNTS.
Once the unfortunate Ex-WaMu customer click in the promo-pod they get re-directed to Chase:
“We’re proud to welcome you to one of the nation’s largest banks; as of September 25, 2008, JPMorgan Chase & Co. has acquired the deposits, loans, and branches of Washington Mutual. Your deposits remain insured by the FDIC and are now also backed by the strength and security of JPMorgan Chase. Our combined company will offer superior banking convenience - over 5,400 branches and 14,000 ATMs in 23 states.”
That’s plain speak for “we totally wanted to expand into the West, we got you, no more WooHoo’s.”
So what happens next? Those great WaMu ads will slip into someones portfolio, people will be freaked out and either not want to deal with the frustration of the deal or leave because they don’t like Chase, and WaMu executives will get millions as they head out of the door. I feel bad for both the customers and agency of record of the now defunct WaMu account.
Still waiting for the bottom to drop completely.
