2008-09-24 — thestreet.com
``Washington Mutual last week put itself on the auction block amid the market chaos, but despite reported interest from several banks a deal has yet to materialize... WaMu's potential suitors appear to prefer waiting to see what the federal bailout looks like in its final form before pulling the trigger.'' -- Unintended consequences episode #2,346,814.
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mortgagemess at 05:23 2008-09-25 said:
So le me guess...they will be part of the smoke and mirror campaign that the President will talk about tonight...well..having been through the merger and S and L failings of the past...if Wamu does collape the world will not end..the vultures of the financial community will pick up the pieces and the FDIC will protect the mom and pops of the world..the ramifications of a Wamu failure..especially since up until a few months ago the flaunted their resilence of the NEG AM loans...is not earth shattering but instead no different than the homeowner who decided to buy a McMansion with one of their toxic products..They both in the end rolled the dice and lost...you didn't help the homeowner stay in his McMansion why should you help the monster that put him in it... Permalinkadd a comment | go to forum thread
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