Banks have the Money but have no Sense

We all know about the banks and what kind of trouble they all got into. They had a bunch of bad debts. People did not pay them for the money that they were given on a promise to pay it back with interest. Some people had hard luck excuses but a big percentage of them borrowed money they knew they could never pay back. Well, one of my banks, Washington Mutual was briefly taken over by the FDIC over a year ago before they handed all the deposits and branches over to JPMorgan Chase. The FDIC got $1.9 billion.

Washington Mutual had 2,200 branches. I did condo business at a branch in Houston, Texas and for a few years I asked for an accounting of money I sent to them every month. We are paying on a 99 year recreational land lease and have been doing so since 1966. I wanted to make sure that they 1) got it and 2) that it was being credited to the correct account and 3) that the beneficiary of the payment received it. I never received a word from this bank and on top of that, I could not figure out how to even reach them because I was sending money to a LockBox. It was an insane way of doing business and I was elected Treasurer with little documentation.

So, finally what I feared happened. With all the banks being taken over and merging, and employees changing like yesterday’s underwear, my December payment came back. I am one of the few people left in the country trying to pay its debt and the Bank deposit location closes down. Washington Mutual had closed the LockBox. No one from the bank has notified me where to send a payment and no one affiliated with this bank has any idea and can’t even direct me to anyone who can help. Earlier in the month I attempted to call the bank and got shuffled around throughout the bank for 25 minutes with NO ONE knowing which end was up.

JPMorgan Chase paid $1.9 billion to buy Washington Mutual so I can see why they are not the least bit interested in my $165 a month payment.

Why do we ever wonder why we are in so much trouble in this country?