An Examination of WaMu

"One casualty of the housing bust is without a doubt Washington Mutual or WaMu. This company is an important front to watch in terms of the future of the US economy, given that this bank holds $185 billion in deposits. There currently is a lot of schadenfreude on the internet, blogsphere and in my comment section about this bank ultimately failing. There are aggressive speculative bets being made against them, including puts trades with enormous 200% like implied volatility bets."