I’ve been arguing for years that there were too many bone headed policies and clueless employees at WaMu, and this story clinches it: WaMu make a second mortgage to O.J. Simpson, despite a $33 million civil judgment against him, because he told them the judgment was no good because he didn’t do it.
As a non-fan of Chase, I can’t say I am much of a fan of JP Morgan Chase CEO Jamie Dimon, which means I am not a big fan of the recent rumors in the media that he is a possible candidate to replace Treasure Secretary Timothy Giethner. Chase customers, how would you feel having the guy ultimately responsible for all the bone-headed Chase policies being responsible for banking and foreclosure policy, among other things?
Well this is good news. Chase attempted to have the class action against it for closing HELOC accounts thrown out on the grounds that it didn’t owe any responsibility to WaMu customers. The Judge denied their motion. If you are a Chase customer, this is how the company you bank with thinks: they should be allowed to do whatever they want. (article)