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Wamu’s ad metaphor came true

26 Sep

I always liked Washington Mutual, which is why I also banked with them. They sort of blamed Suze Orman for their stock price when I spoke to them on Saturday, but in the end it was the quicksand of bad loans, not bad media that dragged them down.

In their mind they conducted branch banking and relationship banking along a ‘think different’ approach. Tough when you’re dealing with a generic product – money.

This commercial was funny at the time, but since they were ‘seized‘ by the government and sold off to J.P. Morgan Chase, it’s not so funny after all. They portrayed themselves as driving the old suits to jump off into the abyss.

Ultimately it was the old suits who drove them off the ledge.

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Posted by on September 26, 2008 in Social Media

 

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