I manage a family trust through a brokerage, because while I have learned a lot here and elsewhere, I am still relatively unsophisticated financially. The broker has been a big help. As of yesterday, all of the highest CD interest rates were from WaMu. Twelve-month CD for $100K was 4%. I asked him why WaMu was higher than everybody else and he told me bluntly (this is why he’ll be my broker for life, just like I have a hairdresser for life), “WaMu is in trouble and needs the cash.”
