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RIP

In 1989, I took $200 dollars I had earned busing tables at the Remington Club in Rancho Bernardo and opened a savings account at Great Western Bank, on Bernardo Center Drive. A year later, after growing my bank account by 50%, I took out that same $200 dollars to buy two 12" woofers to fit in the back of my Hyundai Excel (along with a 200 watt Linear Power amp which lasted four chest-pounding years before being stolen by a group of San Diego rebels).

In 1997, Washington Mutual purchased Great Western Bank for $6.8 billion dollars, 500 dollars of which was mine.

I received a new account number, ATM card, and branding colors.

I've stayed with Washington Mutual since that time, not because it was particularly good, but because it reminded me of Rancho Bernardo, and with direct deposit, changing banks is a bitch.

Earlier tonight, Washington Mutual failed, was "closed by the U.S. government" and sold to JP Morgan for $1.9 billion dollars ($2,000 of which was mine. In 19 years, I've managed to quadruple my net worth).

From Great Western, to Washington Mutual, to JP Morgan.

A quick reminder that even if you don't seek change, change will seek you.

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This page contains a single entry from the blog posted on September 25, 2008 9:23 PM.

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