Friday, September 26, 2008

Washington Mutual

WaMu is the biggest bank failure in the history of the world.

That this rescue plan is not getting done is one of the biggest government failures in history. What are they waiting for? Is this really worth their 15 minutes of fame?

Did Congress and Senate notice that WaMu shareholders - your and my 401k plan, large pensions plans - got NOTHING? Value is disappearing. Jobs are disappearing.

I'm getting nervous. It's like a massive car accident is happening in slow motion and the drivers are choosing not to hit the brake. In this case, they're waving to the cameras instead.

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